CytomX Therapeutics, Inc. (NASDAQ:CTMX) announced its quarterly earnings data on Monday, August 7th. The biotechnology company reported ($0.69) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.39) by $0.30, Morningstar.com reports. CytomX Therapeutics had a negative net margin of 206.33% and a negative return on equity of 84.61%. The business had revenue of $8.75 million for the quarter, compared to the consensus estimate of $4.95 million.
CytomX Therapeutics (CTMX) traded down 3.63% on Friday, reaching $13.53. 250,578 shares of the company’s stock were exchanged. The firm’s market capitalization is $498.81 million. The firm has a 50-day moving average of $14.54 and a 200-day moving average of $14.59. CytomX Therapeutics has a 12 month low of $9.85 and a 12 month high of $20.02.
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A number of brokerages recently weighed in on CTMX. Bank of America Corporation reaffirmed a “buy” rating and set a $30.00 price objective (up previously from $28.00) on shares of CytomX Therapeutics in a research report on Wednesday, August 9th. BidaskClub raised shares of CytomX Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, August 9th. Cann reaffirmed a “hold” rating on shares of CytomX Therapeutics in a research report on Tuesday, August 8th. Cowen and Company reissued a “buy” rating on shares of CytomX Therapeutics in a research note on Tuesday, August 8th. Finally, Jefferies Group LLC reissued a “buy” rating and set a $25.00 target price on shares of CytomX Therapeutics in a research note on Tuesday, June 6th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. CytomX Therapeutics has an average rating of “Hold” and an average target price of $25.60.
In other CytomX Therapeutics news, CFO Debanjan Ray sold 2,500 shares of the firm’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $15.47, for a total value of $38,675.00. Following the completion of the sale, the chief financial officer now owns 22,126 shares in the company, valued at approximately $342,289.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Robert I. Tepper sold 15,000 shares of the firm’s stock in a transaction dated Thursday, June 29th. The shares were sold at an average price of $16.00, for a total transaction of $240,000.00. Following the completion of the sale, the insider now owns 44,777 shares of the company’s stock, valued at approximately $716,432. The disclosure for this sale can be found here. Insiders sold a total of 39,343 shares of company stock valued at $606,856 in the last 90 days. Corporate insiders own 4.70% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Legal & General Group Plc raised its position in shares of CytomX Therapeutics by 28.6% in the second quarter. Legal & General Group Plc now owns 6,448 shares of the biotechnology company’s stock valued at $101,000 after buying an additional 1,434 shares during the period. Hillsdale Investment Management Inc. acquired a new position in shares of CytomX Therapeutics during the first quarter valued at about $159,000. First Quadrant L P CA acquired a new position in shares of CytomX Therapeutics during the second quarter valued at about $160,000. Goldman Sachs Group Inc. acquired a new position in shares of CytomX Therapeutics during the first quarter valued at about $190,000. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of CytomX Therapeutics during the second quarter valued at about $174,000. Hedge funds and other institutional investors own 52.75% of the company’s stock.
About CytomX Therapeutics
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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