CytomX Therapeutics, Inc. $CTMX Shares Sold by Jacobs Levy Equity Management Inc.

Key Points

• Jacobs Levy Equity Management Inc. reduced its stake in CytomX Therapeutics by 55.6% during Q1, leaving it with approximately 0.85% of the company valued at $436,000.
• Other institutional investors, such as Millennium Management LLC and Assenagon Asset Management S.A., increased their holdings in CytomX during the same period.
• Analysts at Oppenheimer have recently set an "outperform" rating for CytomX with a price target of $7.00, indicating a positive outlook for the stock.

Jacobs Levy Equity Management Inc. trimmed its holdings in shares of CytomX Therapeutics, Inc. (NASDAQ:CTMX - Free Report) by 55.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 686,208 shares of the biotechnology company's stock after selling 861,007 shares during the quarter. Jacobs Levy Equity Management Inc. owned 0.85% of CytomX Therapeutics worth $436,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Millennium Management LLC lifted its position in shares of CytomX Therapeutics by 25.8% during the fourth quarter. Millennium Management LLC now owns 3,221,012 shares of the biotechnology company's stock worth $3,318,000 after purchasing an additional 660,756 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of CytomX Therapeutics by 18.6% during the first quarter. Assenagon Asset Management S.A. now owns 711,454 shares of the biotechnology company's stock valued at $452,000 after acquiring an additional 111,604 shares in the last quarter. Northern Trust Corp increased its holdings in shares of CytomX Therapeutics by 16.0% during the fourth quarter. Northern Trust Corp now owns 150,632 shares of the biotechnology company's stock valued at $155,000 after acquiring an additional 20,746 shares in the last quarter. RA Capital Management L.P. acquired a new position in CytomX Therapeutics in the 1st quarter worth approximately $636,000. Finally, Tidal Investments LLC increased its holdings in CytomX Therapeutics by 55.5% in the 4th quarter. Tidal Investments LLC now owns 382,529 shares of the biotechnology company's stock worth $394,000 after buying an additional 136,528 shares during the period. 67.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Oppenheimer initiated coverage on CytomX Therapeutics in a research report on Thursday, July 31st. They issued an "outperform" rating and a $7.00 price objective on the stock. Barclays started coverage on CytomX Therapeutics in a report on Wednesday. They issued an "overweight" rating and a $3.50 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $5.30.

CytomX Therapeutics Price Performance

Shares of NASDAQ:CTMX traded up $0.11 during midday trading on Thursday, reaching $2.04. 3,910,095 shares of the company's stock were exchanged, compared to its average volume of 2,312,323. The firm's 50 day simple moving average is $2.16 and its two-hundred day simple moving average is $1.70. The stock has a market cap of $336.42 million, a price-to-earnings ratio of 3.64 and a beta of 2.18. CytomX Therapeutics, Inc. has a fifty-two week low of $0.40 and a fifty-two week high of $3.10.

CytomX Therapeutics 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.