Insider Selling: CytomX Therapeutics, Inc. (NASDAQ:CTMX) SVP Sells $11,707.20 in Stock

CytomX Therapeutics, Inc. (NASDAQ:CTMX) SVP Marcia Belvin sold 19,512 shares of the company’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $0.60, for a total transaction of $11,707.20. Following the sale, the senior vice president now directly owns 248,636 shares of the company’s stock, valued at $149,181.60. The trade was a 7.28 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

CytomX Therapeutics Price Performance

Shares of NASDAQ CTMX opened at $0.67 on Friday. The stock has a market cap of $53.41 million, a PE ratio of 3.92 and a beta of 1.05. CytomX Therapeutics, Inc. has a 1 year low of $0.56 and a 1 year high of $5.85. The firm has a fifty day moving average price of $0.76 and a 200-day moving average price of $0.98.

CytomX Therapeutics (NASDAQ:CTMX) last issued its quarterly earnings results on Thursday, March 6th. The biotechnology company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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. On average, research analysts expect that CytomX Therapeutics, Inc. will post -0.05 EPS for the current year.

Wall Street Analyst Weigh In

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

Institutional Trading of CytomX Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Formidable Asset Management LLC boosted its stake in CytomX Therapeutics by 55.5% in the 4th quarter. Formidable Asset Management LLC now owns 382,529 shares of the biotechnology company’s stock worth $394,000 after purchasing an additional 136,528 shares during the period. Velan Capital Investment Management LP purchased a new position in shares of CytomX Therapeutics in the fourth quarter worth $36,000. Tidal Investments LLC lifted its holdings in shares of CytomX Therapeutics by 55.5% in the fourth 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 in the last quarter. Point72 Asset Management L.P. bought a new position in shares of CytomX Therapeutics during the fourth quarter worth $2,730,000. Finally, Prosight Management LP grew its stake in CytomX Therapeutics by 29.2% during the fourth quarter. Prosight Management LP now owns 3,905,000 shares of the biotechnology company’s stock valued at $4,022,000 after acquiring an additional 882,891 shares in the last quarter. 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.