Wall Street Zen Downgrades CytomX Therapeutics (NASDAQ:CTMX) to Strong Sell

Key Points

• Wall Street Zen downgraded CytomX (NASDAQ:CTMX) from a "sell" to a "strong sell" in a report issued Saturday.
• CytomX's latest quarter missed expectations—EPS ($0.22) vs. ($0.08) estimate and revenue $0.66M vs. $7.33M—and insiders have sold 191,063 shares (~$1.23M) recently, including the CEO reducing his stake by about 9.9%.
• Nonetheless, the broader analyst community is more positive: nine Buys and one Sell give a consensus rating of "Moderate Buy" with a consensus target price of $13.44 while the stock trades around $4.40.

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

Several other research analysts also recently issued reports on the stock. Cantor Fitzgerald upped their price target on shares of CytomX Therapeutics from $6.00 to $10.00 and gave the stock an "overweight" rating in a report on Wednesday, February 4th. HC Wainwright upped their price target on shares of CytomX Therapeutics from $10.00 to $17.00 and gave the stock a "buy" rating in a report on Monday, March 16th. Barclays increased their price objective on CytomX Therapeutics from $10.00 to $16.00 and gave the company an "overweight" rating in a report on Thursday, March 19th. Wedbush increased their price objective on CytomX Therapeutics from $6.00 to $11.00 and gave the company an "outperform" rating in a report on Tuesday, March 17th. Finally, Guggenheim increased their price objective on CytomX Therapeutics from $10.00 to $15.00 and gave the company a "buy" rating in a report on Wednesday, March 18th. Nine equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, CytomX Therapeutics presently has a consensus rating of "Moderate Buy" and a consensus target price of $13.44.

CytomX Therapeutics Stock Performance

Shares of NASDAQ:CTMX opened at $4.40 on Friday. The company has a fifty day moving average of $4.84 and a 200-day moving average of $4.48. The company has a market capitalization of $748.84 million, a PE ratio of -110.00 and a beta of 2.49. CytomX Therapeutics has a 52-week low of $0.63 and a 52-week high of $8.21.

CytomX Therapeutics (NASDAQ:CTMX - Get Free Report) last announced its quarterly earnings results on Monday, March 16th. The biotechnology company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.14). The company had revenue of $0.66 million for the quarter, compared to analyst estimates of $7.33 million. CytomX Therapeutics had a negative return on equity of 19.77% and a negative net margin of 22.79%. On average, equities analysts forecast that CytomX Therapeutics will post -0.56 EPS for the current fiscal year.

Insider Activity

In other news, CEO Sean A. Mccarthy sold 118,969 shares of the stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $6.42, for a total transaction of $763,780.98. Following the completion of the sale, the chief executive officer directly owned 1,078,922 shares in the company, valued at $6,926,679.24. This represents a 9.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Yu-Waye Chu sold 21,279 shares of the stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $6.42, for a total value of $136,611.18. Following the sale, the insider owned 189,446 shares of the company's stock, valued at approximately $1,216,243.32. The trade was a 10.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 191,063 shares of company stock valued at $1,226,624. 6.60% of the stock is owned by corporate insiders.

Institutional Trading of CytomX Therapeutics

Large investors have recently bought and sold shares of the business. Farther Finance Advisors LLC acquired a new stake in CytomX Therapeutics during the 3rd quarter worth about $25,000. Wells Fargo & Company MN grew its holdings in CytomX Therapeutics by 83.2% during the 4th quarter. Wells Fargo & Company MN now owns 6,605 shares of the biotechnology company's stock worth $28,000 after acquiring an additional 3,000 shares during the period. Invesco Ltd. acquired a new stake in CytomX Therapeutics during the 2nd quarter worth about $32,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new stake in CytomX Therapeutics during the 3rd quarter worth about $34,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in CytomX Therapeutics during the 4th quarter worth about $35,000. 67.77% of the stock is currently owned by institutional investors and hedge funds.

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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