CytomX Therapeutics Inc (NASDAQ:CTMX) – Equities research analysts at SunTrust Banks lifted their FY2018 earnings estimates for CytomX Therapeutics in a research note issued on Wednesday, November 7th. SunTrust Banks analyst P. Lawson now forecasts that the biotechnology company will earn ($1.90) per share for the year, up from their previous forecast of ($2.14). SunTrust Banks also issued estimates for CytomX Therapeutics’ Q4 2018 earnings at ($0.60) EPS, FY2019 earnings at ($3.23) EPS, FY2020 earnings at ($3.24) EPS, FY2021 earnings at ($3.25) EPS and FY2022 earnings at ($3.33) EPS.
CytomX Therapeutics (NASDAQ:CTMX) last issued its quarterly earnings data on Thursday, November 8th. The biotechnology company reported ($0.53) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.42) by ($0.11). CytomX Therapeutics had a negative return on equity of 65.03% and a negative net margin of 68.90%. The company had revenue of $12.51 million for the quarter, compared to the consensus estimate of $16.42 million.
Several other equities research analysts also recently issued reports on the stock. Zacks Investment Research raised shares of CytomX Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday. Cann reissued a “hold” rating on shares of CytomX Therapeutics in a research report on Tuesday, November 6th. BidaskClub downgraded shares of CytomX Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Wednesday, October 24th. HC Wainwright set a $32.00 price objective on shares of CytomX Therapeutics and gave the stock a “buy” rating in a research report on Wednesday, October 24th. Finally, Goldman Sachs Group began coverage on shares of CytomX Therapeutics in a research report on Monday, October 15th. They set a “neutral” rating and a $21.00 price objective for the company. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $34.88.
Shares of CTMX stock opened at $15.00 on Friday. CytomX Therapeutics has a 12-month low of $12.75 and a 12-month high of $35.00. The firm has a market cap of $717.86 million, a PE ratio of -12.93 and a beta of 1.46.
In related news, CFO Debanjan Ray sold 3,000 shares of the stock in a transaction on Thursday, November 1st. The shares were sold at an average price of $15.00, for a total transaction of $45,000.00. Following the completion of the transaction, the chief financial officer now owns 8,928 shares in the company, valued at $133,920. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Sean A. Mccarthy sold 6,526 shares of the stock in a transaction on Friday, November 2nd. The stock was sold at an average price of $15.00, for a total transaction of $97,890.00. The disclosure for this sale can be found here. Insiders have sold 28,578 shares of company stock valued at $550,757 in the last 90 days. 8.50% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. FMR LLC boosted its holdings in CytomX Therapeutics by 15.4% during the third quarter. FMR LLC now owns 6,744,553 shares of the biotechnology company’s stock worth $124,774,000 after purchasing an additional 900,927 shares during the last quarter. BlackRock Inc. lifted its stake in CytomX Therapeutics by 19.9% in the third quarter. BlackRock Inc. now owns 3,868,566 shares of the biotechnology company’s stock valued at $71,570,000 after acquiring an additional 642,165 shares during the last quarter. Renaissance Technologies LLC lifted its stake in CytomX Therapeutics by 46.8% in the second quarter. Renaissance Technologies LLC now owns 1,411,500 shares of the biotechnology company’s stock valued at $32,267,000 after acquiring an additional 450,300 shares during the last quarter. Victory Capital Management Inc. lifted its stake in CytomX Therapeutics by 658.9% in the third quarter. Victory Capital Management Inc. now owns 890,400 shares of the biotechnology company’s stock valued at $16,472,000 after acquiring an additional 773,080 shares during the last quarter. Finally, Aquilo Capital Management LLC acquired a new stake in CytomX Therapeutics in the second quarter valued at $14,853,000. Institutional investors and hedge funds 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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