Traders Buy High Volume of CytomX Therapeutics Call Options (NASDAQ:CTMX)

CytomX Therapeutics, Inc. (NASDAQ:CTMX) was the target of some unusual options trading activity on Wednesday. Stock investors purchased 16,565 call options on the company. This represents an increase of approximately 7,197% compared to the average volume of 227 call options.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CTMX. BMO Capital Markets restated a “market perform” rating and set a $3.25 price target on shares of CytomX Therapeutics in a research note on Wednesday. StockNews.com lowered shares of CytomX Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, April 23rd. Finally, JPMorgan Chase & Co. upgraded shares of CytomX Therapeutics from an “underweight” rating to a “neutral” rating in a research note on Monday, April 22nd.

Insider Buying and Selling at CytomX Therapeutics

In other CytomX Therapeutics news, CEO Sean A. Mccarthy sold 20,223 shares of the company’s stock in a transaction that occurred 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 transaction, 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 available at the SEC website. In the last quarter, insiders have sold 35,024 shares of company stock worth $73,200. 7.00% of the stock is owned by corporate insiders.

Institutional Trading of CytomX Therapeutics

Large investors have recently made changes to their positions in the business. AlphaMark Advisors LLC boosted its holdings in CytomX Therapeutics by 119.8% during the fourth quarter. AlphaMark Advisors LLC now owns 23,183 shares of the biotechnology company’s stock worth $36,000 after buying an additional 12,635 shares in the last quarter. Congress Park Capital LLC boosted its holdings in CytomX Therapeutics by 112.8% during the fourth quarter. Congress Park Capital LLC now owns 239,300 shares of the biotechnology company’s stock worth $371,000 after buying an additional 126,850 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in CytomX Therapeutics by 737.4% during the third quarter. Bank of New York Mellon Corp now owns 266,836 shares of the biotechnology company’s stock worth $344,000 after buying an additional 234,970 shares in the last quarter. 67.77% of the stock is owned by hedge funds and other institutional investors.

CytomX Therapeutics Price Performance

CTMX stock opened at $5.13 on Thursday. The firm’s fifty day simple moving average is $2.14 and its 200-day simple moving average is $1.67. The company has a market capitalization of $347.45 million, a P/E ratio of -256.37 and a beta of 1.00. CytomX Therapeutics has a 12 month low of $1.04 and a 12 month high of $5.85.

CytomX Therapeutics (NASDAQ:CTMX) last released its quarterly earnings data on Monday, March 11th. The biotechnology company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.02 by ($0.01). The firm had revenue of $26.61 million for the quarter, compared to analyst estimates of $23.36 million. As a group, sell-side analysts forecast that CytomX Therapeutics will post -0.29 earnings per share for the current year.

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.