CytomX Therapeutics (NASDAQ:CTMX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Monday.
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. “
A number of other analysts have also weighed in on the company. ValuEngine lowered CytomX Therapeutics from a “hold” rating to a “sell” rating in a research note on Friday, December 1st. Citigroup initiated coverage on CytomX Therapeutics in a research note on Friday, January 5th. They issued a “buy” rating and a $40.00 target price for the company. BidaskClub cut CytomX Therapeutics from a “buy” rating to a “hold” rating in a report on Thursday, December 7th. Cantor Fitzgerald set a $40.00 price target on CytomX Therapeutics and gave the company a “buy” rating in a report on Thursday. Finally, Jefferies Group raised their price target on CytomX Therapeutics to $40.00 and gave the company a “buy” rating in a report on Thursday. Three research analysts have rated the stock with a sell rating, two have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. CytomX Therapeutics currently has an average rating of “Buy” and a consensus price target of $35.67.
In other CytomX Therapeutics news, CFO Debanjan Ray sold 33,000 shares of the firm’s stock in a transaction dated Friday, March 2nd. The stock was sold at an average price of $29.99, for a total transaction of $989,670.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Frederick W. Gluck sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, December 26th. The stock was sold at an average price of $22.29, for a total value of $111,450.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 132,626 shares of company stock worth $3,709,830. 8.00% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of CTMX. Nationwide Fund Advisors boosted its holdings in CytomX Therapeutics by 39.4% during the second quarter. Nationwide Fund Advisors now owns 16,365 shares of the biotechnology company’s stock worth $254,000 after buying an additional 4,622 shares during the last quarter. New York State Common Retirement Fund boosted its holdings in CytomX Therapeutics by 48.8% during the second quarter. New York State Common Retirement Fund now owns 31,100 shares of the biotechnology company’s stock worth $482,000 after buying an additional 10,199 shares during the last quarter. Northern Trust Corp boosted its holdings in CytomX Therapeutics by 36.5% during the second quarter. Northern Trust Corp now owns 316,586 shares of the biotechnology company’s stock worth $4,907,000 after buying an additional 84,602 shares during the last quarter. Vanguard Group Inc. boosted its holdings in CytomX Therapeutics by 12.2% during the second quarter. Vanguard Group Inc. now owns 924,138 shares of the biotechnology company’s stock worth $14,323,000 after buying an additional 100,607 shares during the last quarter. Finally, Voya Investment Management LLC bought a new position in CytomX Therapeutics during the second quarter worth about $203,000. Hedge funds and other institutional investors own 78.50% of the company’s stock.
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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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