CytomX Therapeutics (CTMX) Receives “Hold” Rating from Cann

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Cann reiterated their hold rating on shares of CytomX Therapeutics (NASDAQ:CTMX) in a report published on Tuesday.

“Loss per share was $0.53, compared to our estimated EPS of $0.00. This was primarily the result of higher than expected operating expenses, which exceeded our estimate by 26.7%. R&D expense of $27.5 million was higher than our estimated $19.1 million. In addition, collaboration revenue was lower than expected due to a change in collaboration revenue recognition. A detailed, and promising, pipeline and regulatory update was provided and is included in this report.”,” the firm’s analyst commented.

Several other equities analysts also recently issued reports on CTMX. Zacks Investment Research upgraded CytomX Therapeutics from a hold rating to a buy rating and set a $28.00 price objective for the company in a research report on Tuesday, July 10th. BidaskClub downgraded CytomX Therapeutics from a hold rating to a sell rating in a research report on Wednesday, August 15th. ValuEngine downgraded CytomX Therapeutics from a strong-buy rating to a buy rating in a research report on Wednesday, August 29th. HC Wainwright initiated coverage on CytomX Therapeutics in a research report on Thursday, September 13th. They issued a buy rating and a $32.00 price objective for the company. Finally, Goldman Sachs Group initiated coverage on CytomX Therapeutics in a research report on Monday, October 15th. They issued a neutral rating and a $21.00 price objective for the company. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the stock. The company has an average rating of Hold and a consensus price target of $34.88.

Shares of CTMX stock opened at $12.75 on Tuesday. CytomX Therapeutics has a one year low of $12.75 and a one year high of $35.00.

CytomX Therapeutics (NASDAQ:CTMX) last announced its quarterly earnings results on Tuesday, November 6th. The biotechnology company reported ($0.53) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.42) by ($0.11). CytomX Therapeutics had a negative net margin of 44.46% and a negative return on equity of 74.84%. Equities analysts predict that CytomX Therapeutics will post -1.58 EPS for the current year.

In other CytomX Therapeutics news, insider Sean A. Mccarthy sold 13,052 shares of CytomX Therapeutics stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $21.86, for a total value of $285,316.72. Following the completion of the transaction, the insider now owns 95,115 shares in the company, valued at approximately $2,079,213.90. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Debanjan Ray sold 3,000 shares of CytomX Therapeutics stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $22.39, for a total value of $67,170.00. Following the completion of the transaction, the chief financial officer now owns 8,928 shares of the company’s stock, valued at approximately $199,897.92. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,578 shares of company stock valued at $550,757. Corporate insiders own 8.50% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in CTMX. UBS Group AG raised its position in shares of CytomX Therapeutics by 311.3% during the first quarter. UBS Group AG now owns 45,937 shares of the biotechnology company’s stock worth $1,307,000 after acquiring an additional 34,767 shares during the last quarter. WINTON GROUP Ltd bought a new stake in shares of CytomX Therapeutics during the first quarter worth $205,000. Allianz Asset Management GmbH raised its position in shares of CytomX Therapeutics by 7.4% during the first quarter. Allianz Asset Management GmbH now owns 58,739 shares of the biotechnology company’s stock worth $1,671,000 after acquiring an additional 4,036 shares during the last quarter. Xact Kapitalforvaltning AB bought a new stake in shares of CytomX Therapeutics during the second quarter worth $206,000. Finally, Essex Investment Management Co. LLC bought a new stake in shares of CytomX Therapeutics during the second quarter worth $502,000. Institutional investors own 71.53% of the company’s stock.

CytomX Therapeutics Company Profile

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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Analyst Recommendations for CytomX Therapeutics (NASDAQ:CTMX)

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