CytomX Therapeutics (NASDAQ:CTMX) Upgraded by Wall Street Zen to "Sell" Rating

Key Points

• Wall Street Zen upgraded CytomX Therapeutics from “strong sell” to “sell,” though the broader analyst picture remains more constructive with a consensus “Moderate Buy” and an average price target of $13.44.
• The company reported quarterly earnings of -$0.10 per share, beating estimates, and posted $10.26 million in revenue, well above expectations.
• Insider selling was notable, with CEO Sean A. McCarthy and CFO Christopher Ogden both trimming their holdings in March; however, institutional ownership remains high at 67.77%.

CytomX Therapeutics (NASDAQ:CTMX - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "strong sell" rating to a "sell" rating in a research note issued to investors on Saturday.

Other equities analysts also recently issued reports about the stock. Wedbush upped their price objective on shares of CytomX Therapeutics from $6.00 to $11.00 and gave the company an "outperform" rating in a report on Tuesday, March 17th. Weiss Ratings downgraded shares of CytomX Therapeutics from a "hold (c-)" rating to a "sell (d)" rating in a report on Thursday, March 19th. Jefferies Financial Group upped their price objective on shares of CytomX Therapeutics from $8.00 to $16.00 and gave the company a "buy" rating in a report on Wednesday, March 18th. Piper Sandler boosted their target price on shares of CytomX Therapeutics from $10.00 to $12.00 and gave the company an "overweight" rating in a research report on Monday, March 23rd. Finally, Barclays boosted their target price on shares of CytomX Therapeutics from $10.00 to $16.00 and gave the company an "overweight" rating in a research report on Thursday, March 19th. Nine analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $13.44.

CytomX Therapeutics Price Performance

NASDAQ:CTMX opened at $3.98 on Friday. CytomX Therapeutics has a one year low of $0.91 and a one year high of $8.21. The company has a market cap of $677.36 million, a P/E ratio of -9.71 and a beta of 2.18. The firm's fifty day moving average price is $4.66 and its two-hundred day moving average price is $4.53.

CytomX Therapeutics (NASDAQ:CTMX - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The biotechnology company reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.04. CytomX Therapeutics had a negative net margin of 166.40% and a negative return on equity of 54.37%. The firm had revenue of $10.26 million for the quarter, compared to the consensus estimate of $4.68 million. As a group, equities research analysts expect that CytomX Therapeutics will post -0.56 earnings per share for the current year.

Insider Buying and Selling at CytomX Therapeutics

In other news, CEO Sean A. Mccarthy sold 118,969 shares of the business's stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $6.42, for a total value of $763,780.98. Following the completion of the sale, the chief executive officer owned 1,078,922 shares of the company's stock, valued at approximately $6,926,679.24. The trade was a 9.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Christopher Ogden sold 19,323 shares of the business's stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $6.42, for a total transaction of $124,053.66. Following the completion of the sale, the chief financial officer directly owned 296,948 shares of the company's stock, valued at approximately $1,906,406.16. The trade was a 6.11% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 191,063 shares of company stock worth $1,226,624. Insiders own 6.60% of the company's stock.

Institutional Investors Weigh In On CytomX Therapeutics

Institutional investors have recently modified their holdings of the business. Orbimed Advisors LLC bought a new stake in CytomX Therapeutics during the second quarter worth about $19,208,000. Commodore Capital LP bought a new stake in CytomX Therapeutics during the second quarter worth about $17,462,000. Perceptive Advisors LLC bought a new stake in CytomX Therapeutics during the second quarter worth about $15,876,000. State Street Corp lifted its position in CytomX Therapeutics by 697.1% during the fourth quarter. State Street Corp now owns 5,140,931 shares of the biotechnology company's stock worth $21,900,000 after purchasing an additional 4,495,949 shares during the period. Finally, Balyasny Asset Management L.P. bought a new stake in CytomX Therapeutics during the second quarter worth about $6,505,000. Institutional investors own 67.77% of the company's stock.

About CytomX Therapeutics

CytomX Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of next-generation therapeutics based on its proprietary Probody® platform. The company engineers masked antibody prodrugs that remain inactive in healthy tissue but are selectively activated in the tumor microenvironment. This approach is designed to enhance the safety and tolerability of antibody-based therapies, particularly those targeting immuno-oncology pathways.

At the core of CytomX's pipeline is Pacmilimab (CX-072), an anti–PD-L1 Probody therapeutic currently undergoing clinical evaluation for multiple solid tumor indications.

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