Tang Capital Management LLC Sells 500,000 Shares of CytomX Therapeutics, Inc. (NASDAQ:CTMX)

Tang Capital Management LLC trimmed its position in CytomX Therapeutics, Inc. (NASDAQ:CTMX) by 6.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 7,311,760 shares of the biotechnology company’s stock after selling 500,000 shares during the quarter. Tang Capital Management LLC owned approximately 0.09% of CytomX Therapeutics worth $7,531,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of CTMX. Miller Financial Services LLC bought a new stake in shares of CytomX Therapeutics in the 4th quarter valued at about $26,000. Traphagen Investment Advisors LLC bought a new stake in shares of CytomX Therapeutics in the 4th quarter valued at about $31,000. Algert Global LLC bought a new stake in shares of CytomX Therapeutics in the 4th quarter valued at about $35,000. Aspire Growth Partners LLC bought a new stake in shares of CytomX Therapeutics in the 4th quarter valued at about $42,000. Finally, Prudential Financial Inc. raised its holdings in shares of CytomX Therapeutics by 76.2% in the 4th quarter. Prudential Financial Inc. now owns 64,300 shares of the biotechnology company’s stock valued at $66,000 after purchasing an additional 27,800 shares during the period. 67.77% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CTMX has been the topic of a number of research analyst reports. Wedbush reaffirmed an “outperform” rating and issued a $6.00 target price (up from $5.00) on shares of CytomX Therapeutics in a report on Monday, May 12th. Piper Sandler increased their price target on shares of CytomX Therapeutics from $2.50 to $5.00 and gave the company an “overweight” rating in a report on Thursday. HC Wainwright raised shares of CytomX Therapeutics from a “neutral” rating to a “buy” rating and set a $5.00 price target on the stock in a report on Thursday. Finally, StockNews.com raised shares of CytomX Therapeutics from a “hold” rating to a “buy” rating in a report on Tuesday, May 13th.

CytomX Therapeutics Stock Up 1.5%

CytomX Therapeutics stock opened at $2.03 on Friday. The stock has a market cap of $163.66 million, a P/E ratio of 11.94 and a beta of 1.11. CytomX Therapeutics, Inc. has a twelve month low of $0.40 and a twelve month high of $2.55. The company’s 50-day moving average price is $0.82 and its two-hundred day moving average price is $0.89.

CytomX Therapeutics (NASDAQ:CTMX) last announced its earnings results on Monday, May 12th. The biotechnology company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.18 by $0.09. CytomX Therapeutics had a net margin of 10.96% and a negative return on equity of 41.47%. The company had revenue of $50.92 million for the quarter, compared to analysts’ expectations of $35.42 million. During the same period last year, the firm earned $0.17 earnings per share. Equities analysts anticipate that CytomX Therapeutics, Inc. will post -0.05 earnings per share for the current fiscal year.

CytomX Therapeutics Company Profile

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.