CytomX Therapeutics (NASDAQ:CTMX) Downgraded to “Sell” Rating by Wall Street Zen

Wall Street Zen downgraded shares of CytomX Therapeutics (NASDAQ:CTMX) from a hold rating to a sell rating in a research report report published on Sunday morning.

Several other research firms have also recently weighed in on CTMX. Guggenheim decreased their price target on CytomX Therapeutics from $15.00 to $14.00 and set a “buy” rating for the company in a research note on Monday, August 10th. Zacks Research lowered CytomX Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 19th. Wolfe Research began coverage on shares of CytomX Therapeutics in a research note on Tuesday, May 19th. They set an “outperform” rating and a $6.00 target price on the stock. HC Wainwright dropped their price target on shares of CytomX Therapeutics from $17.00 to $11.00 and set a “buy” rating on the stock in a report on Monday, May 11th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of CytomX Therapeutics in a research note on Tuesday, June 16th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, CytomX Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $11.90.

CytomX Therapeutics Price Performance

Shares of CTMX opened at $3.28 on Friday. CytomX Therapeutics has a twelve month low of $1.90 and a twelve month high of $8.21. The company has a market capitalization of $714.71 million, a P/E ratio of -6.56 and a beta of 2.12. The firm has a 50 day moving average of $3.42 and a 200 day moving average of $4.10.

CytomX Therapeutics (NASDAQ:CTMX) last released its quarterly earnings data on Thursday, August 6th. The biotechnology company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.01). CytomX Therapeutics had a negative net margin of 435.21% and a negative return on equity of 38.46%. The business had revenue of $1.42 million during the quarter, compared to the consensus estimate of $12.39 million. On average, sell-side analysts expect that CytomX Therapeutics will post -0.4 EPS for the current year.

Hedge Funds Weigh In On CytomX Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the company. Goldman Sachs Group Inc. purchased a new stake in CytomX Therapeutics during the first quarter valued at $39,000. Woodline Partners LP bought a new position in CytomX Therapeutics in the first quarter valued at about $1,054,000. Geode Capital Management LLC boosted its position in CytomX Therapeutics by 103.4% in the second quarter. Geode Capital Management LLC now owns 1,745,176 shares of the biotechnology company’s stock worth $3,963,000 after purchasing an additional 887,218 shares during the last quarter. Invesco Ltd. bought a new stake in shares of CytomX Therapeutics during the 2nd quarter valued at about $32,000. Finally, Marshall Wace LLP grew its stake in shares of CytomX Therapeutics by 2,650.9% during the 2nd quarter. Marshall Wace LLP now owns 2,353,122 shares of the biotechnology company’s stock valued at $5,342,000 after purchasing an additional 2,267,583 shares during the period. 67.77% of the stock is currently owned by hedge funds and other institutional investors.

CytomX Therapeutics Company Profile

CytomX Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of next-generation therapeutics based on its proprietary Probody® platform. The company engineers masked antibody prodrugs that remain inactive in healthy tissue but are selectively activated in the tumor microenvironment. This approach is designed to enhance the safety and tolerability of antibody-based therapies, particularly those targeting immuno-oncology pathways.

At the core of CytomX’s pipeline is Pacmilimab (CX-072), an anti–PD-L1 Probody therapeutic currently undergoing clinical evaluation for multiple solid tumor indications.