Zacks Investment Research cut shares of CytomX Therapeutics, Inc. (NASDAQ:CTMX) from a buy rating to a hold rating in a report published on Friday morning.
According to Zacks, “CytomX Therapeutics, Inc. is an oncology focused biopharmaceutical company. The Company is engaged in developing Probody(TM) therapeutics for the treatment of cancer. Its pipeline focuses areas consist of Precision cancer immunotherapy and Probody drug conjugates. CytomX Therapeutics, Inc. is headquartered in South San Francisco, California. “
Several other analysts also recently weighed in on CTMX. BidaskClub upgraded CytomX Therapeutics from a sell rating to a hold rating in a research note on Wednesday, August 9th. Cowen and Company reiterated a buy rating on shares of CytomX Therapeutics in a research note on Tuesday, August 8th. Bank of America Corporation reissued a buy rating and issued a $30.00 price objective (up previously from $28.00) on shares of CytomX Therapeutics in a report on Wednesday, August 9th. Cann reissued a hold rating on shares of CytomX Therapeutics in a report on Tuesday, August 8th. Finally, Wedbush initiated coverage on CytomX Therapeutics in a report on Thursday, September 7th. They issued an outperform rating and a $26.00 price objective for the company. Two analysts have rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of $31.88.
Shares of CytomX Therapeutics (NASDAQ CTMX) opened at $19.93 on Friday. CytomX Therapeutics has a one year low of $10.03 and a one year high of $24.67.
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In related news, CFO Debanjan Ray sold 2,500 shares of the company’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $17.17, for a total value of $42,925.00. Following the completion of the transaction, the chief financial officer now owns 17,126 shares of the company’s stock, valued at approximately $294,053.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sean A. Mccarthy sold 19,120 shares of the company’s stock in a transaction dated Wednesday, October 4th. The stock was sold at an average price of $24.13, for a total value of $461,365.60. Following the completion of the transaction, the chief executive officer now directly owns 23,365 shares of the company’s stock, valued at approximately $563,797.45. The disclosure for this sale can be found here. In the last three months, insiders sold 187,355 shares of company stock valued at $4,031,706. Insiders own 8.00% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CTMX. Wells Fargo & Company MN raised its holdings in CytomX Therapeutics by 52.8% in the 1st quarter. Wells Fargo & Company MN now owns 22,424 shares of the biotechnology company’s stock worth $387,000 after purchasing an additional 7,747 shares during the period. Swiss National Bank raised its holdings in CytomX Therapeutics by 19.1% in the 1st quarter. Swiss National Bank now owns 26,800 shares of the biotechnology company’s stock worth $463,000 after purchasing an additional 4,300 shares during the period. Prudential Financial Inc. acquired a new position in CytomX Therapeutics in the 1st quarter worth about $485,000. American International Group Inc. raised its holdings in CytomX Therapeutics by 7.1% in the 1st quarter. American International Group Inc. now owns 12,580 shares of the biotechnology company’s stock worth $217,000 after purchasing an additional 834 shares during the period. Finally, Alliancebernstein L.P. acquired a new position in CytomX Therapeutics in the 1st quarter worth about $598,000. 57.85% of the stock is owned by institutional investors.
CytomX Therapeutics Company Profile
CytomX Therapeutics, Inc is a clinical-stage, oncology-focused biopharmaceutical company. The Company uses its Probody technology platform to create cancer immunotherapies against clinically validated targets, as well as to develop cancer therapeutics against difficult-to-drug targets. Its pipeline is focused on the development of therapies in a set of modalities: Probody cancer immunotherapies, Probody drug conjugates, T-cell engaging Probody bispecifics and ProCAR-NK cell therapies.
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