Congress Park Capital LLC Cuts Holdings in CytomX Therapeutics, Inc. (NASDAQ:CTMX)

Congress Park Capital LLC reduced its stake in shares of CytomX Therapeutics, Inc. (NASDAQ:CTMX - Free Report) by 30.2% in the first quarter, according to its most recent filing with the SEC. The fund owned 673,686 shares of the biotechnology company's stock after selling 290,904 shares during the period. Congress Park Capital LLC owned approximately 0.84% of CytomX Therapeutics worth $428,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Point72 Asset Management L.P. bought a new stake in CytomX Therapeutics in the 4th quarter worth approximately $2,730,000. Prosight Management LP raised its stake in shares of CytomX Therapeutics by 29.2% during the fourth quarter. Prosight Management LP now owns 3,905,000 shares of the biotechnology company's stock worth $4,022,000 after acquiring an additional 882,891 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of CytomX Therapeutics by 288,736.3% in the 4th quarter. JPMorgan Chase & Co. now owns 811,630 shares of the biotechnology company's stock worth $836,000 after acquiring an additional 811,349 shares during the last quarter. Millennium Management LLC boosted its stake in shares of CytomX Therapeutics by 25.8% in the 4th quarter. Millennium Management LLC now owns 3,221,012 shares of the biotechnology company's stock valued at $3,318,000 after purchasing an additional 660,756 shares in the last quarter. Finally, Monimus Capital Management LP bought a new position in shares of CytomX Therapeutics during the 4th quarter valued at $375,000. 67.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CTMX. Piper Sandler boosted their price target on shares of CytomX Therapeutics from $2.50 to $5.00 and gave the stock an "overweight" rating in a research note on Thursday, May 15th. HC Wainwright raised CytomX Therapeutics from a "neutral" rating to a "buy" rating and set a $5.00 target price for the company in a research note on Thursday, May 15th. Wedbush restated an "outperform" rating and set a $6.00 price target (up from $5.00) on shares of CytomX Therapeutics in a research report on Monday, May 12th. Finally, Wall Street Zen upgraded CytomX Therapeutics from a "hold" rating to a "buy" rating in a research report on Tuesday, May 13th.

CytomX Therapeutics Trading Down 11.3%

CytomX Therapeutics stock opened at $2.11 on Friday. The firm has a market cap of $170.11 million, a P/E ratio of 4.40 and a beta of 2.11. CytomX Therapeutics, Inc. has a 1-year low of $0.40 and a 1-year high of $3.10. The firm has a 50-day moving average of $1.70 and a 200-day moving average of $1.13.

CytomX Therapeutics (NASDAQ:CTMX - Get Free Report) last released its quarterly earnings data on Monday, May 12th. The biotechnology company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.09. CytomX Therapeutics had a negative return on equity of 553.71% and a net margin of 28.22%. The business had revenue of $50.92 million during the quarter, compared to analysts' expectations of $35.42 million. During the same quarter last year, the business posted $0.17 EPS. Research analysts forecast that CytomX Therapeutics, Inc. will post -0.05 earnings per share for the current fiscal year.

CytomX Therapeutics Company Profile

CytomX Therapeutics, Inc, an oncology-focused biopharmaceutical company, focuses on developing novel conditionally activated biologics localized to the tumor microenvironment. The company utilizes conditional activation platform technology for oncology biologics research and development comprising the validation of targets for antibody-drug conjugates (ADCs), opening therapeutic window for novel T-cell engagers (TCEs) targeting solid tumors, and increasing the therapeutic index for immune modulators, such as cytokines; and PROBODY platform in preclinical research in areas outside of oncology.

Want to see what other hedge funds are holding CTMX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CytomX Therapeutics, Inc. (NASDAQ:CTMX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.