Wall Street analysts predict that CytomX Therapeutics, Inc. (NASDAQ:CTMX) will report sales of $10.70 million for the current fiscal quarter, Zacks reports. Three analysts have made estimates for CytomX Therapeutics’ earnings, with the highest sales estimate coming in at $16.50 million and the lowest estimate coming in at $600,000.00. CytomX Therapeutics reported sales of $6.27 million in the same quarter last year, which indicates a positive year-over-year growth rate of 70.7%. The business is scheduled to announce its next quarterly earnings results on Thursday, March 1st.
According to Zacks, analysts expect that CytomX Therapeutics will report full year sales of $10.70 million for the current year, with estimates ranging from $45.20 million to $61.00 million. For the next fiscal year, analysts expect that the firm will post sales of $79.53 million per share, with estimates ranging from $60.00 million to $104.60 million. Zacks’ sales averages are an average based on a survey of research firms that that provide coverage for CytomX Therapeutics.
CTMX has been the topic of a number of research analyst reports. Bank of America lifted their price target on shares of CytomX Therapeutics from $30.00 to $34.00 and gave the company a “buy” rating in a research note on Wednesday, October 4th. Nomura raised their price objective on CytomX Therapeutics to $44.00 and gave the stock a “buy” rating in a research report on Wednesday, October 4th. Wedbush set a $37.00 target price on CytomX Therapeutics and gave the company a “buy” rating in a research report on Wednesday, October 4th. Jefferies Group set a $25.00 target price on CytomX Therapeutics and gave the company a “buy” rating in a research report on Friday, August 25th. Finally, Zacks Investment Research raised CytomX Therapeutics from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research report on Monday, October 16th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $31.88.
In other CytomX Therapeutics news, CFO Debanjan Ray sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $18.10, for a total value of $45,250.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Robert I. Tepper sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 19th. The shares were sold at an average price of $18.00, for a total value of $360,000.00. Following the completion of the sale, the insider now owns 54,293 shares of the company’s stock, valued at approximately $977,274. The disclosure for this sale can be found here. In the last quarter, insiders sold 173,009 shares of company stock valued at $3,835,417. 4.70% of the stock is owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the company. Numeric Investors LLC purchased a new position in CytomX Therapeutics during the second quarter worth about $9,730,000. State Street Corp raised its holdings in shares of CytomX Therapeutics by 58.8% in the 2nd quarter. State Street Corp now owns 446,315 shares of the biotechnology company’s stock worth $6,914,000 after purchasing an additional 165,342 shares during the period. OxFORD Asset Management LLP raised its holdings in shares of CytomX Therapeutics by 425.6% in the 3rd quarter. OxFORD Asset Management LLP now owns 166,079 shares of the biotechnology company’s stock worth $3,001,000 after purchasing an additional 134,484 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of CytomX Therapeutics by 1,063.5% in the 2nd quarter. Goldman Sachs Group Inc. now owns 127,776 shares of the biotechnology company’s stock worth $1,980,000 after purchasing an additional 116,794 shares during the period. Finally, American Century Companies Inc. raised its holdings in shares of CytomX Therapeutics by 185.3% in the 3rd quarter. American Century Companies Inc. now owns 169,799 shares of the biotechnology company’s stock worth $3,085,000 after purchasing an additional 110,283 shares during the period. Institutional investors and hedge funds own 63.18% of the company’s stock.
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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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