Sean A. Mccarthy Sells 37,656 Shares of CytomX Therapeutics, Inc. (NASDAQ:CTMX) Stock

CytomX Therapeutics, Inc. (NASDAQ:CTMX) CEO Sean A. Mccarthy sold 37,656 shares of the business’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $0.60, for a total value of $22,593.60. Following the sale, the chief executive officer now directly owns 995,195 shares of the company’s stock, valued at $597,117. This represents a 3.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

CytomX Therapeutics Stock Performance

Shares of CTMX opened at $0.67 on Friday. The stock has a 50 day simple moving average of $0.76 and a 200 day simple moving average of $0.98. CytomX Therapeutics, Inc. has a 52-week low of $0.56 and a 52-week high of $5.85. The firm has a market capitalization of $53.41 million, a PE ratio of 3.92 and a beta of 1.05.

CytomX Therapeutics (NASDAQ:CTMX) last issued its quarterly earnings data on Thursday, March 6th. The biotechnology company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.23) by $0.45. CytomX Therapeutics had a negative return on equity of 41.47% and a net margin of 10.96%. The business had revenue of $38.09 million during the quarter, compared to analyst estimates of $13.53 million. Equities research analysts predict that CytomX Therapeutics, Inc. will post -0.05 EPS for the current fiscal year.

Hedge Funds Weigh In On CytomX Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the business. Miller Financial Services LLC acquired a new position in shares of CytomX Therapeutics in the 4th quarter valued at approximately $26,000. Traphagen Investment Advisors LLC acquired a new position in CytomX Therapeutics during the 4th quarter worth approximately $31,000. Algert Global LLC acquired a new position in CytomX Therapeutics during the 4th quarter worth approximately $35,000. Velan Capital Investment Management LP acquired a new position in CytomX Therapeutics during the 4th quarter worth approximately $36,000. Finally, Aspire Growth Partners LLC acquired a new position in CytomX Therapeutics during the 4th quarter worth approximately $42,000. 67.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on CTMX shares. HC Wainwright reaffirmed a “neutral” rating on shares of CytomX Therapeutics in a research note on Friday, March 7th. StockNews.com raised CytomX Therapeutics from a “hold” rating to a “buy” rating in a research note on Monday, March 10th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $5.00 price target on shares of CytomX Therapeutics in a research note on Friday, March 7th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, CytomX Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $5.02.

About CytomX Therapeutics

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.