CytomX Therapeutics Inc (NASDAQ:CTMX) – Stock analysts at Oppenheimer decreased their FY2018 earnings estimates for CytomX Therapeutics in a research report issued to clients and investors on Tuesday, November 6th. Oppenheimer analyst L. Cann now anticipates that the biotechnology company will earn ($1.88) per share for the year, down from their prior estimate of ($0.55). Oppenheimer also issued estimates for CytomX Therapeutics’ Q4 2018 earnings at ($0.58) EPS, FY2019 earnings at ($1.15) EPS, FY2020 earnings at $0.19 EPS, FY2021 earnings at ($0.55) EPS and FY2022 earnings at ($0.83) EPS.
CytomX Therapeutics (NASDAQ:CTMX) last announced its quarterly earnings data on Thursday, November 8th. The biotechnology company reported ($0.53) EPS for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.11). CytomX Therapeutics had a negative net margin of 68.90% and a negative return on equity of 96.63%. The firm had revenue of $12.51 million during the quarter, compared to the consensus estimate of $16.42 million.
Other research analysts also recently issued research reports about the stock. BidaskClub downgraded shares of CytomX Therapeutics from a “hold” rating to a “sell” rating in a research report on Wednesday, August 15th. Zacks Investment Research raised shares of CytomX Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday. HC Wainwright set a $32.00 price objective on shares of CytomX Therapeutics and gave the company a “buy” rating in a research report on Wednesday, October 24th. ValuEngine downgraded shares of CytomX Therapeutics from a “buy” rating to a “hold” rating in a research report on Monday, September 17th. Finally, Goldman Sachs Group began coverage on shares of CytomX Therapeutics in a research report on Monday, October 15th. They issued a “neutral” rating and a $21.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company. CytomX Therapeutics currently has an average rating of “Buy” and an average target price of $34.88.
Shares of CTMX opened at $15.00 on Friday. CytomX Therapeutics has a one year low of $12.75 and a one year high of $35.00. The stock has a market capitalization of $573.29 million, a PE ratio of -12.93 and a beta of 1.46.
In related news, insider Sean A. Mccarthy sold 13,052 shares of CytomX Therapeutics stock in a transaction dated Tuesday, September 4th. The shares were sold at an average price of $21.86, for a total transaction of $285,316.72. Following the completion of the sale, the insider now owns 95,115 shares of the company’s stock, valued at approximately $2,079,213.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Debanjan Ray sold 3,000 shares of CytomX Therapeutics stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $22.39, for a total transaction of $67,170.00. Following the sale, the chief financial officer now directly owns 8,928 shares of the company’s stock, valued at approximately $199,897.92. The disclosure for this sale can be found here. Insiders have sold a total of 28,578 shares of company stock valued at $550,757 in the last ninety days. 8.50% of the stock is currently owned by insiders.
Several hedge funds have recently made changes to their positions in CTMX. Great West Life Assurance Co. Can boosted its holdings in shares of CytomX Therapeutics by 174.6% during the 2nd quarter. Great West Life Assurance Co. Can now owns 4,943 shares of the biotechnology company’s stock worth $113,000 after buying an additional 3,143 shares during the period. SG Americas Securities LLC bought a new stake in shares of CytomX Therapeutics during the 2nd quarter worth about $119,000. WINTON GROUP Ltd bought a new stake in shares of CytomX Therapeutics during the 1st quarter worth about $205,000. Xact Kapitalforvaltning AB bought a new stake in shares of CytomX Therapeutics during the 2nd quarter worth about $206,000. Finally, Fox Run Management L.L.C. bought a new stake in shares of CytomX Therapeutics during the 3rd quarter worth about $225,000. 71.53% of the stock is owned by institutional investors and hedge funds.
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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