CytomX Therapeutics, Inc. (NASDAQ:CTMX) has been given an average recommendation of “Hold” by the thirteen brokerages that are presently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $34.50.
A number of equities analysts have recently weighed in on CTMX shares. Cantor Fitzgerald started coverage on CytomX Therapeutics in a research note on Monday, October 23rd. They set an “overweight” rating and a $35.00 target price on the stock. Bank of America Corporation raised their target price on CytomX Therapeutics from $30.00 to $34.00 and gave the company a “buy” rating in a report on Wednesday, October 4th. Nomura raised their target price on CytomX Therapeutics to $44.00 and gave the company a “buy” rating in a report on Wednesday, October 4th. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of CytomX Therapeutics in a research report on Wednesday, October 4th. Finally, Zacks Investment Research raised CytomX Therapeutics from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research report on Monday, October 16th.
CytomX Therapeutics (NASDAQ:CTMX) traded up $0.26 during trading hours on Monday, reaching $19.75. The company’s stock had a trading volume of 170,200 shares, compared to its average volume of 268,800. CytomX Therapeutics has a 12-month low of $10.03 and a 12-month high of $24.67.
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In related news, insider Sean A. Mccarthy sold 18,756 shares of the stock in a transaction dated 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 transaction, the insider now directly owns 23,001 shares of the company’s stock, valued at $402,517.50. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider William Michael Kavanaugh sold 48,368 shares of the stock in a transaction dated Wednesday, October 4th. The stock was sold at an average price of $24.34, for a total transaction of $1,177,277.12. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 187,355 shares of company stock valued at $4,031,706. Company insiders own 8.00% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the stock. FMR LLC raised its stake in CytomX Therapeutics by 0.6% in the second quarter. FMR LLC now owns 5,512,459 shares of the biotechnology company’s stock worth $85,444,000 after buying an additional 34,732 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of CytomX Therapeutics by 12.2% during the second quarter. Vanguard Group Inc. now owns 924,138 shares of the biotechnology company’s stock valued at $14,323,000 after purchasing an additional 100,607 shares in the last quarter. Redmile Group LLC increased its stake in shares of CytomX Therapeutics by 2.4% during the second quarter. Redmile Group LLC now owns 698,392 shares of the biotechnology company’s stock valued at $10,825,000 after purchasing an additional 16,500 shares in the last quarter. Numeric Investors LLC bought a new position in shares of CytomX Therapeutics during the second quarter valued at approximately $9,730,000. Finally, State Street Corp increased its stake in shares of CytomX Therapeutics by 58.8% during the second quarter. State Street Corp now owns 446,315 shares of the biotechnology company’s stock valued at $6,914,000 after purchasing an additional 165,342 shares in the last quarter. 57.85% of the stock is owned by institutional investors.
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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