Shares of CytomX Therapeutics, Inc. (NASDAQ:CTMX – Get Free Report) fell 8.6% on Tuesday . The company traded as low as $3.04 and last traded at $2.9250. 169,439 shares traded hands during mid-day trading, a decline of 96% from the average daily volume of 4,758,746 shares. The stock had previously closed at $3.20.
Analyst Upgrades and Downgrades
A number of equities research analysts have issued reports on the company. Zacks Research cut CytomX Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 19th. Weiss Ratings restated a “sell (d)” rating on shares of CytomX Therapeutics in a research note on Friday. JPMorgan Chase & Co. reduced their price objective on shares of CytomX Therapeutics from $12.00 to $11.00 and set an “overweight” rating for the company in a research note on Thursday, August 13th. Wall Street Zen downgraded shares of CytomX Therapeutics from a “hold” rating to a “sell” rating in a report on Sunday, August 23rd. Finally, Guggenheim lowered their target price on shares of CytomX Therapeutics from $15.00 to $14.00 and set a “buy” rating on the stock in a research note on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, CytomX Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $11.90.
View Our Latest Stock Analysis on CTMX
CytomX Therapeutics Price Performance
CytomX Therapeutics (NASDAQ:CTMX – Get Free Report) last issued its quarterly earnings results 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). The firm had revenue of $1.42 million for the quarter, compared to the consensus estimate of $12.39 million. CytomX Therapeutics had a negative net margin of 435.21% and a negative return on equity of 38.46%. Research analysts predict that CytomX Therapeutics, Inc. will post -0.4 EPS for the current year.
Institutional Trading of CytomX Therapeutics
A number of institutional investors and hedge funds have recently modified their holdings of CTMX. Engineers Gate Manager LP lifted its position in CytomX Therapeutics by 182.0% in the second quarter. Engineers Gate Manager LP now owns 83,130 shares of the biotechnology company’s stock worth $312,000 after purchasing an additional 53,653 shares during the period. Integrated Wealth Concepts LLC acquired a new stake in CytomX Therapeutics during the second quarter worth $47,000. Pale Fire Capital SE bought a new stake in CytomX Therapeutics in the 2nd quarter valued at $86,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in CytomX Therapeutics by 16.0% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 219,779 shares of the biotechnology company’s stock valued at $824,000 after buying an additional 30,379 shares during the period. Finally, Hsbc Holdings PLC acquired a new position in shares of CytomX Therapeutics in the 2nd quarter valued at $103,000. 67.77% of the stock is currently owned by institutional investors.
CytomX Therapeutics Company Profile
CytomX Therapeutics, Inc (NASDAQ: CTMX) is a clinical-stage biopharmaceutical company focused on developing cancer therapies designed to selectively activate in the tumor microenvironment. The company’s Probody therapeutic platform uses molecular masking technology intended to limit antibody activity in healthy tissue and enable activation by proteases that are more prevalent in tumors.
CytomX’s pipeline includes investigational therapies spanning several modalities, including Probody drug conjugates, T-cell engagers and cytokine-based treatments.
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