EcoR1 Capital LLC Invests $13.73 Million in CytomX Therapeutics, Inc. (CTMX)

EcoR1 Capital LLC acquired a new stake in CytomX Therapeutics, Inc. (NASDAQ:CTMX) during the first quarter, Holdings Channel reports. The institutional investor acquired 794,969 shares of the biotechnology company’s stock, valued at approximately $13,729,000. CytomX Therapeutics comprises about 3.5% of EcoR1 Capital LLC’s investment portfolio, making the stock its 9th largest position.

A number of other hedge funds have also modified their holdings of the company. Perceptive Advisors LLC acquired a new stake in shares of CytomX Therapeutics during the fourth quarter valued at approximately $10,152,000. JPMorgan Chase & Co. increased its stake in shares of CytomX Therapeutics by 551.5% in the first quarter. JPMorgan Chase & Co. now owns 185,778 shares of the biotechnology company’s stock valued at $3,208,000 after buying an additional 157,261 shares during the last quarter. Sphera Funds Management LTD. acquired a new stake in shares of CytomX Therapeutics during the first quarter valued at approximately $2,591,000. Renaissance Technologies LLC increased its stake in shares of CytomX Therapeutics by 157.5% in the first quarter. Renaissance Technologies LLC now owns 234,800 shares of the biotechnology company’s stock valued at $4,055,000 after buying an additional 143,600 shares during the last quarter. Finally, Monashee Investment Management LLC acquired a new stake in shares of CytomX Therapeutics during the first quarter valued at approximately $798,000. 52.45% of the stock is currently owned by institutional investors and hedge funds.

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

CytomX Therapeutics, Inc. (NASDAQ CTMX) traded up 0.89% during mid-day trading on Friday, hitting $13.60. The company’s stock had a trading volume of 197,870 shares. The firm’s market cap is $499.79 million. The firm has a 50 day moving average of $14.53 and a 200-day moving average of $13.63. CytomX Therapeutics, Inc. has a 52-week low of $9.10 and a 52-week high of $20.02.

CytomX Therapeutics (NASDAQ:CTMX) last posted its earnings results on Friday, May 5th. The biotechnology company reported ($0.23) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.55) by $0.32. CytomX Therapeutics had a negative net margin of 208.92% and a negative return on equity of 59.65%. The company had revenue of $11.65 million for the quarter, compared to analyst estimates of $2.10 million. On average, equities research analysts expect that CytomX Therapeutics, Inc. will post ($1.46) EPS for the current fiscal year.

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Several analysts recently commented on CTMX shares. Zacks Investment Research raised CytomX Therapeutics from a “hold” rating to a “buy” rating and set a $17.00 price objective on the stock in a research note on Wednesday, May 3rd. HC Wainwright started coverage on CytomX Therapeutics in a research note on Monday, March 27th. They set a “buy” rating and a $24.00 price objective on the stock. ValuEngine downgraded CytomX Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday, May 11th. Nomura started coverage on CytomX Therapeutics in a research note on Wednesday, March 1st. They issued a “buy” rating on the stock. Finally, Instinet lifted their price target on CytomX Therapeutics from $21.00 to $32.00 and gave the company a “sell” rating in a research note on Monday, March 20th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. CytomX Therapeutics has an average rating of “Hold” and an average price target of $24.50.

In related news, major shareholder Rock Ventures Lp Third sold 1,650,000 shares of the company’s stock in a transaction dated Monday, March 27th. The shares were sold at an average price of $17.39, for a total value of $28,693,500.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Sean A. Mccarthy sold 4,781 shares of the company’s stock in a transaction dated Monday, May 1st. The stock was sold at an average price of $15.70, for a total transaction of $75,061.70. Following the completion of the sale, the insider now owns 6,760 shares in the company, valued at approximately $106,132. The disclosure for this sale can be found here. Insiders sold a total of 1,728,860 shares of company stock worth $30,109,014 in the last 90 days. 4.70% of the stock is currently owned by company insiders.

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.

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