Bank of America Corporation Reiterates Buy Rating for CytomX Therapeutics, Inc. (NASDAQ:CTMX)
Bank of America Corporation reiterated their buy rating on shares of CytomX Therapeutics, Inc. (NASDAQ:CTMX) in a research note released on Wednesday morning. Bank of America Corporation currently has a $30.00 target price on the biotechnology company’s stock, up from their prior target price of $28.00.
Other analysts have also issued reports about the stock. Cann restated a hold rating on shares of CytomX Therapeutics in a report on Tuesday. BidaskClub lowered shares of CytomX Therapeutics from a hold rating to a sell rating in a report on Monday, July 24th. Cowen and Company restated a buy rating on shares of CytomX Therapeutics in a report on Wednesday, June 28th. Jefferies Group LLC restated a buy rating and issued a $25.00 price objective on shares of CytomX Therapeutics in a report on Tuesday, June 6th. Finally, ValuEngine lowered shares of CytomX Therapeutics from a hold rating to a sell rating in a report on Thursday, May 11th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $25.60.
CytomX Therapeutics (NASDAQ:CTMX) traded up 0.94% on Wednesday, reaching $13.98. The company’s stock had a trading volume of 159,504 shares. CytomX Therapeutics has a 52-week low of $9.85 and a 52-week high of $20.02. The company’s market cap is $515.40 million. The firm’s 50-day moving average price is $14.70 and its 200 day moving average price is $14.50.
CytomX Therapeutics (NASDAQ:CTMX) last issued its quarterly earnings data on Monday, August 7th. The biotechnology company reported ($0.69) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.39) by $0.30. CytomX Therapeutics had a negative return on equity of 84.61% and a negative net margin of 206.33%. The company had revenue of $8.75 million during the quarter, compared to analysts’ expectations of $4.95 million. Equities analysts anticipate that CytomX Therapeutics will post ($1.47) EPS for the current fiscal year.
ILLEGAL ACTIVITY NOTICE: “Bank of America Corporation Reiterates Buy Rating for CytomX Therapeutics, Inc. (NASDAQ:CTMX)” was originally reported by TheOlympiaReport and is the property of of TheOlympiaReport. If you are viewing this article on another website, it was copied illegally and republished in violation of U.S. & international trademark & copyright laws. The legal version of this article can be accessed at https://theolympiareport.com/2017/08/12/bank-of-america-corporation-reiterates-buy-rating-for-cytomx-therapeutics-inc-nasdaqctmx.html.
In other news, CFO Debanjan Ray sold 2,500 shares of CytomX Therapeutics stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $15.47, for a total transaction of $38,675.00. Following the completion of the transaction, the chief financial officer now directly owns 22,126 shares in the company, valued at $342,289.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Robert I. Tepper sold 15,000 shares of CytomX Therapeutics stock in a transaction that occurred on Thursday, June 29th. The shares were sold at an average price of $16.00, for a total transaction of $240,000.00. Following the transaction, the insider now owns 44,777 shares of the company’s stock, valued at $716,432. The disclosure for this sale can be found here. Insiders have sold 39,343 shares of company stock valued at $606,856 over the last quarter. Company insiders own 4.70% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Citadel Advisors LLC raised its position in CytomX Therapeutics by 71.4% in the second quarter. Citadel Advisors LLC now owns 31,043 shares of the biotechnology company’s stock valued at $481,000 after buying an additional 12,927 shares during the last quarter. Nordea Investment Management AB acquired a new position in CytomX Therapeutics during the second quarter valued at about $1,451,000. FMR LLC raised its position in CytomX Therapeutics by 0.6% in the second quarter. FMR LLC now owns 5,512,459 shares of the biotechnology company’s stock valued at $85,444,000 after buying an additional 34,732 shares during the last quarter. Vanguard Group Inc. raised its position in CytomX Therapeutics by 12.2% in the second quarter. Vanguard Group Inc. now owns 924,138 shares of the biotechnology company’s stock valued at $14,323,000 after buying an additional 100,607 shares during the last quarter. Finally, Northern Trust Corp raised its position in CytomX Therapeutics by 36.5% in the second quarter. Northern Trust Corp now owns 316,586 shares of the biotechnology company’s stock valued at $4,907,000 after buying an additional 84,602 shares during the last quarter. Hedge funds and other institutional investors own 52.33% of the company’s stock.
CytomX Therapeutics Company Profile
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.
Receive News & Ratings for CytomX Therapeutics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CytomX Therapeutics Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.