Insider Selling: CytomX Therapeutics, Inc. (NASDAQ:CTMX) CEO Sells $22,593.60 in Stock

CytomX Therapeutics, Inc. (NASDAQ:CTMX) CEO Sean A. Mccarthy sold 37,656 shares of CytomX Therapeutics 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 completion of the sale, the chief executive officer now directly owns 995,195 shares in the company, valued at $597,117. This trade represents a 3.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

CytomX Therapeutics Trading Up 0.1 %

Shares of CTMX opened at $0.67 on Friday. The company’s fifty day simple moving average is $0.76 and its 200-day simple moving average is $0.98. The company has a market cap of $53.41 million, a P/E ratio of 3.92 and a beta of 1.05. CytomX Therapeutics, Inc. has a twelve month low of $0.56 and a twelve month high of $5.85.

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

Analyst Ratings Changes

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

Hedge Funds Weigh In On CytomX Therapeutics

Several hedge funds have recently bought and sold shares of CTMX. FMR LLC grew its stake in CytomX Therapeutics by 17.3% in the 3rd quarter. FMR LLC now owns 284,307 shares of the biotechnology company’s stock worth $335,000 after acquiring an additional 41,949 shares in the last quarter. Geode Capital Management LLC increased its position in CytomX Therapeutics by 4.4% during the 3rd quarter. Geode Capital Management LLC now owns 803,531 shares of the biotechnology company’s stock valued at $948,000 after purchasing an additional 34,032 shares during the period. Virtu Financial LLC bought a new position in shares of CytomX Therapeutics during the third quarter valued at approximately $104,000. Miller Financial Services LLC purchased a new stake in CytomX Therapeutics during the fourth quarter worth $26,000. Finally, Traphagen Investment Advisors LLC purchased a new position in shares of CytomX Therapeutics in the 4th quarter valued at $31,000. Institutional investors own 67.77% of the company’s stock.

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.