CytomX Therapeutics (CTMX) Raised to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of CytomX Therapeutics (NASDAQ:CTMX) from a hold rating to a buy rating in a research report released on Tuesday. The brokerage currently has $19.00 price target on the biotechnology company’s stock.
According to Zacks, “CytomX Therapeutics, Inc. is an oncology focused biopharmaceutical company. The Company is engaged in developing Probody(TM) therapeutics for the treatment of cancer. Its pipeline focuses areas consist of Precision cancer immunotherapy and Probody drug conjugates. CytomX Therapeutics, Inc. is headquartered in South San Francisco, California. “
Several other analysts have also recently issued reports on CTMX. BidaskClub cut shares of CytomX Therapeutics from a sell rating to a strong sell rating in a research note on Tuesday, September 11th. HC Wainwright initiated coverage on shares of CytomX Therapeutics in a research note on Thursday, September 13th. They set a buy rating and a $32.00 price objective for the company. ValuEngine cut shares of CytomX Therapeutics from a buy rating to a hold rating in a research note on Monday, September 17th. Goldman Sachs Group initiated coverage on shares of CytomX Therapeutics in a research note on Monday, October 15th. They issued a neutral rating and a $21.00 price target for the company. Finally, reissued a hold rating on shares of CytomX Therapeutics in a research note on Tuesday, November 6th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. CytomX Therapeutics currently has an average rating of Buy and a consensus target price of $30.41.
CytomX Therapeutics (NASDAQ:CTMX) last announced its quarterly earnings data on Thursday, November 8th. The biotechnology company reported ($0.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.42) by ($0.11). CytomX Therapeutics had a negative net margin of 68.90% and a negative return on equity of 65.03%. The business had revenue of $12.51 million for the quarter, compared to analysts’ expectations of $16.42 million. On average, research analysts anticipate that CytomX Therapeutics will post -1.75 earnings per share for the current fiscal year.
In other news, insider Sean A. Mccarthy sold 6,526 shares of the company’s stock in a transaction that occurred on Friday, November 2nd. The shares were sold at an average price of $15.00, for a total value of $97,890.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Debanjan Ray sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 12th. The stock was sold at an average price of $15.00, for a total transaction of $45,000.00. Following the completion of the transaction, the chief financial officer now owns 8,928 shares in the company, valued at $133,920. The disclosure for this sale can be found here. In the last three months, insiders sold 12,526 shares of company stock valued at $187,890. Corporate insiders own 8.50% of the company’s stock.
Several hedge funds have recently modified their holdings of CTMX. Great West Life Assurance Co. Can lifted its holdings in shares of CytomX Therapeutics by 174.6% in the 2nd quarter. Great West Life Assurance Co. Can now owns 4,943 shares of the biotechnology company’s stock worth $113,000 after acquiring an additional 3,143 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of CytomX Therapeutics in the 2nd quarter worth approximately $119,000. Legal & General Group Plc lifted its holdings in shares of CytomX Therapeutics by 15.3% in the 3rd quarter. Legal & General Group Plc now owns 7,036 shares of the biotechnology company’s stock worth $130,000 after acquiring an additional 934 shares during the last quarter. Fox Run Management L.L.C. acquired a new position in shares of CytomX Therapeutics in the 3rd quarter worth approximately $225,000. Finally, Capital Fund Management S.A. acquired a new position in shares of CytomX Therapeutics in the 2nd quarter worth approximately $247,000. Hedge funds and other institutional investors own 83.79% of the company’s stock.
About CytomX Therapeutics
CytomX Therapeutics, Inc operates as an oncology-focused biopharmaceutical company in the United States. The company develops a novel class of investigational antibody therapeutics based on its Probody technology platform for the treatment of cancer. Its product candidates in clinical stage include CX-072, a Probody therapeutic targeting programmed cell death ligand 1 anti-cancer target; CX-2009, a Probody drug conjugate (PDC) against CD166 novel tumor antigen; BMS-986249, a CTLA-4 Probody therapeutic drug; CX-2029, a PDC targeting CD71; and CX-188, a Probody therapeutic targeting PD-1 anti-cancer target.
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