Cubist Systematic Strategies LLC Lowers Stake in CytomX Therapeutics Inc (CTMX)

Cubist Systematic Strategies LLC cut its position in shares of CytomX Therapeutics Inc (NASDAQ:CTMX) by 21.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,079 shares of the biotechnology company’s stock after selling 5,648 shares during the period. Cubist Systematic Strategies LLC owned about 0.05% of CytomX Therapeutics worth $600,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. BlackRock Inc. grew its position in CytomX Therapeutics by 28.5% in the fourth quarter. BlackRock Inc. now owns 2,646,599 shares of the biotechnology company’s stock valued at $55,870,000 after acquiring an additional 586,698 shares during the period. Perceptive Advisors LLC grew its position in CytomX Therapeutics by 79.1% in the fourth quarter. Perceptive Advisors LLC now owns 2,490,381 shares of the biotechnology company’s stock valued at $52,571,000 after acquiring an additional 1,100,000 shares during the period. Millennium Management LLC grew its position in CytomX Therapeutics by 34.0% in the fourth quarter. Millennium Management LLC now owns 837,415 shares of the biotechnology company’s stock valued at $17,678,000 after acquiring an additional 212,423 shares during the period. Renaissance Technologies LLC grew its position in CytomX Therapeutics by 32.9% in the fourth quarter. Renaissance Technologies LLC now owns 715,100 shares of the biotechnology company’s stock valued at $15,096,000 after acquiring an additional 177,200 shares during the period. Finally, Goldman Sachs Group Inc. grew its position in CytomX Therapeutics by 40.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 457,619 shares of the biotechnology company’s stock valued at $9,660,000 after acquiring an additional 132,454 shares during the period. Hedge funds and other institutional investors own 76.24% of the company’s stock.

CytomX Therapeutics stock opened at $23.02 on Thursday. The firm has a market capitalization of $951.34 million, a price-to-earnings ratio of -19.84 and a beta of 0.88. CytomX Therapeutics Inc has a 52 week low of $13.09 and a 52 week high of $35.00.

CytomX Therapeutics (NASDAQ:CTMX) last posted its quarterly earnings data on Wednesday, May 9th. The biotechnology company reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.17). The business had revenue of $14.18 million during the quarter, compared to analyst estimates of $19.77 million. CytomX Therapeutics had a negative return on equity of 92.68% and a negative net margin of 67.88%. sell-side analysts expect that CytomX Therapeutics Inc will post -1.66 EPS for the current year.

In other CytomX Therapeutics news, CFO Debanjan Ray sold 3,000 shares of the business’s stock in a transaction on Tuesday, May 1st. The stock was sold at an average price of $26.52, for a total value of $79,560.00. Following the transaction, the chief financial officer now owns 7,741 shares of the company’s stock, valued at $205,291.32. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Sean A. Mccarthy sold 19,578 shares of the business’s stock in a transaction on Tuesday, May 1st. The stock was sold at an average price of $26.55, for a total value of $519,795.90. Following the completion of the transaction, the chief executive officer now directly owns 24,221 shares in the company, valued at approximately $643,067.55. The disclosure for this sale can be found here. In the last three months, insiders sold 28,578 shares of company stock worth $761,506. Insiders own 8.50% of the company’s stock.

A number of analysts have weighed in on the company. Cowen reiterated a “buy” rating on shares of CytomX Therapeutics in a research report on Thursday, May 10th. Cantor Fitzgerald set a $40.00 price target on CytomX Therapeutics and gave the company a “buy” rating in a research report on Saturday, March 17th. BidaskClub upgraded CytomX Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, May 23rd. Zacks Investment Research cut CytomX Therapeutics from a “hold” rating to a “sell” rating in a research report on Monday, March 12th. Finally, ValuEngine upgraded CytomX Therapeutics from a “hold” rating to a “buy” rating in a research report on Saturday, June 2nd. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. CytomX Therapeutics currently has an average rating of “Buy” and an average target price of $38.38.

About CytomX Therapeutics

CytomX Therapeutics, Inc operates as an oncology-focused biopharmaceutical company in the United States. The company develops a novel class of investigational antibody therapeutics based on its Probody technology platform for the treatment of cancer. Its product candidates in clinical stage include CX-072, a Probody therapeutic targeting programmed cell death ligand 1 anti-cancer target; CX-2009, a Probody drug conjugate (PDC) against CD166 novel tumor antigen; BMS-986249, a CTLA-4 Probody therapeutic drug; CX-2029, a PDC targeting CD71; and CX-188, a Probody therapeutic targeting PD-1 anti-cancer target.

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Institutional Ownership by Quarter for CytomX Therapeutics (NASDAQ:CTMX)

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