Zacks Investment Research cut shares of CytomX Therapeutics, Inc. (NASDAQ:CTMX) from a buy rating to a hold rating in a research report sent to investors on Friday morning.
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. “
Other equities analysts have also issued reports about the stock. Cowen and Company reaffirmed a buy rating on shares of CytomX Therapeutics in a research report on Tuesday, August 8th. Bank of America Corporation increased their price objective on shares of CytomX Therapeutics from $30.00 to $34.00 and gave the company a buy rating in a research note on Wednesday, October 4th. Nomura increased their price objective on shares of CytomX Therapeutics to $44.00 and gave the company a buy rating in a research note on Wednesday, October 4th. Wedbush set a $37.00 price objective on shares of CytomX Therapeutics and gave the company a buy rating in a research note on Wednesday, October 4th. Finally, Jefferies Group LLC set a $25.00 price objective on shares of CytomX Therapeutics and gave the company a buy rating in a research note on Friday, August 25th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the stock. CytomX Therapeutics presently has a consensus rating of Hold and an average target price of $31.88.
CytomX Therapeutics (CTMX) opened at $19.75 on Friday. CytomX Therapeutics has a 1 year low of $10.03 and a 1 year high of $24.67.
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In other CytomX Therapeutics news, insider Sean A. Mccarthy sold 18,756 shares of the firm’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $17.50, for a total value of $328,230.00. Following the completion of the sale, the insider now directly owns 23,001 shares in the company, valued at $402,517.50. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Sean A. Mccarthy sold 19,120 shares of the firm’s stock in a transaction that occurred on Wednesday, October 4th. The shares were sold at an average price of $24.13, for a total transaction of $461,365.60. Following the completion of the sale, the chief executive officer now owns 23,365 shares of the company’s stock, valued at $563,797.45. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 187,355 shares of company stock valued at $4,031,706. 8.00% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Wells Fargo & Company MN boosted its stake in CytomX Therapeutics by 47.3% in the third quarter. Wells Fargo & Company MN now owns 60,739 shares of the biotechnology company’s stock valued at $1,104,000 after acquiring an additional 19,506 shares in the last quarter. Schroder Investment Management Group acquired a new stake in CytomX Therapeutics in the third quarter valued at approximately $489,000. Trexquant Investment LP acquired a new stake in shares of CytomX Therapeutics during the third quarter worth $474,000. Sphera Funds Management LTD. lifted its stake in shares of CytomX Therapeutics by 5.0% during the third quarter. Sphera Funds Management LTD. now owns 210,000 shares of the biotechnology company’s stock worth $3,816,000 after buying an additional 10,000 shares during the period. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of CytomX Therapeutics during the third quarter worth $699,000. Institutional investors own 57.85% of the company’s stock.
About CytomX Therapeutics
CytomX Therapeutics, Inc is a clinical-stage, oncology-focused biopharmaceutical company. The Company uses its Probody technology platform to create cancer immunotherapies against clinically validated targets, as well as to develop cancer therapeutics against difficult-to-drug targets. Its pipeline is focused on the development of therapies in a set of modalities: Probody cancer immunotherapies, Probody drug conjugates, T-cell engaging Probody bispecifics and ProCAR-NK cell therapies.
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