CytomX Therapeutics’ (CTMX) Market Perform Rating Reiterated at BMO Capital Markets

BMO Capital Markets reissued their market perform rating on shares of CytomX Therapeutics (NASDAQ:CTMX) in a research note released on Wednesday morning, Benzinga reports. The brokerage currently has a $3.25 price objective on the biotechnology company’s stock.

Several other brokerages have also issued reports on CTMX. StockNews.com lowered shares of CytomX Therapeutics from a buy rating to a hold rating in a research note on Tuesday, April 23rd. JPMorgan Chase & Co. upgraded shares of CytomX Therapeutics from an underweight rating to a neutral rating in a report on Monday, April 22nd.

CytomX Therapeutics Price Performance

Shares of NASDAQ:CTMX opened at $4.43 on Wednesday. CytomX Therapeutics has a 1 year low of $1.04 and a 1 year high of $5.85. The business’s 50-day moving average is $2.20 and its 200-day moving average is $1.69. The company has a market capitalization of $300.04 million, a price-to-earnings ratio of -221.39 and a beta of 1.09.

CytomX Therapeutics (NASDAQ:CTMX) last issued its earnings results on Monday, March 11th. The biotechnology company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.01). The business had revenue of $26.61 million during the quarter, compared to analyst estimates of $23.36 million. Analysts anticipate that CytomX Therapeutics will post -0.29 EPS for the current year.

Insider Transactions at CytomX Therapeutics

In other CytomX Therapeutics news, CEO Sean A. Mccarthy sold 20,223 shares of the business’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $2.09, for a total transaction of $42,266.07. Following the completion of the sale, the chief executive officer now owns 524,481 shares in the company, valued at approximately $1,096,165.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 35,024 shares of company stock valued at $73,200 over the last ninety days. 7.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On CytomX Therapeutics

Several large investors have recently added to or reduced their stakes in CTMX. Congress Park Capital LLC increased its holdings in CytomX Therapeutics by 112.8% during the 4th quarter. Congress Park Capital LLC now owns 239,300 shares of the biotechnology company’s stock worth $371,000 after purchasing an additional 126,850 shares in the last quarter. AlphaMark Advisors LLC raised its position in CytomX Therapeutics by 119.8% in the 4th quarter. AlphaMark Advisors LLC now owns 23,183 shares of the biotechnology company’s stock valued at $36,000 after buying an additional 12,635 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in CytomX Therapeutics by 737.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 266,836 shares of the biotechnology company’s stock valued at $344,000 after acquiring an additional 234,970 shares in the last quarter. Institutional investors own 67.77% of the company’s stock.

About CytomX Therapeutics

CytomX Therapeutics, Inc, an oncology-focused biopharmaceutical company, focuses on developing novel conditionally activated biologics localized to the tumor microenvironment. The company utilizes conditional activation platform technology for oncology biologics research and development comprising the validation of targets for antibody-drug conjugates (ADCs), opening therapeutic window for novel T-cell engagers (TCEs) targeting solid tumors, and increasing the therapeutic index for immune modulators, such as cytokines; and PROBODY platform in preclinical research in areas outside of oncology.