Cann Reaffirms Hold Rating for CytomX Therapeutics, Inc. (NASDAQ:CTMX)
CytomX Therapeutics, Inc. (NASDAQ:CTMX)‘s stock had its “hold” rating reiterated by equities research analysts at Cann in a research note issued on Tuesday.
The analysts wrote, “Loss per share was $0.69, compared to our estimate of $0.56. This was the result of higher than expected R&D expense of $28.1 million compared to our estimate of $15.2 million, which resulted from a $10 million payment to UCSB for a sublicense payment. This was partially offset by higher than estimated revenue of $8.8 million compared to our estimated $1.0 million.””
Several other equities research analysts also recently issued reports on CTMX. Jefferies Group LLC reaffirmed a “buy” rating and set a $25.00 price target on shares of CytomX Therapeutics in a research note on Wednesday, April 26th. Zacks Investment Research raised shares of CytomX Therapeutics from a “hold” rating to a “buy” rating and set a $17.00 price target on the stock in a research note on Wednesday, May 3rd. HC Wainwright reaffirmed a “buy” rating on shares of CytomX Therapeutics in a research note on Monday, May 8th. ValuEngine downgraded shares of CytomX Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday, May 11th. Finally, Cowen and Company reaffirmed a “buy” rating on shares of CytomX Therapeutics in a research note on Wednesday, June 28th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $24.50.
Shares of CytomX Therapeutics (NASDAQ:CTMX) traded up 8.28% during trading on Tuesday, hitting $14.78. 302,806 shares of the company were exchanged. The stock’s market cap is $543.15 million. CytomX Therapeutics has a 12 month low of $9.85 and a 12 month high of $20.02. The company’s 50-day moving average price is $14.69 and its 200 day moving average price is $14.41.
CytomX Therapeutics (NASDAQ:CTMX) last released its quarterly earnings results on Monday, August 7th. The biotechnology company reported ($0.69) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.39) by $0.30. CytomX Therapeutics had a negative return on equity of 59.65% and a negative net margin of 208.92%. The firm had revenue of $8.75 million for the quarter, compared to analysts’ expectations of $4.95 million. On average, equities analysts predict that CytomX Therapeutics will post ($1.41) earnings per share for the current fiscal year.
In other news, insider Sean A. Mccarthy sold 4,781 shares of the business’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $15.52, for a total value of $74,201.12. Following the completion of the sale, the insider now owns 9,026 shares of the company’s stock, valued at approximately $140,083.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Debanjan Ray sold 2,500 shares of the business’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $15.47, for a total transaction of $38,675.00. Following the completion of the sale, the chief financial officer now directly owns 22,126 shares of the company’s stock, valued at approximately $342,289.22. The disclosure for this sale can be found here. Insiders sold a total of 32,062 shares of company stock valued at $497,641 in the last three months. Insiders own 8.00% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. Citadel Advisors LLC bought a new stake in CytomX Therapeutics during the first quarter valued at $313,000. Vident Investment Advisory LLC increased its stake in CytomX Therapeutics by 20.0% in the first quarter. Vident Investment Advisory LLC now owns 75,924 shares of the biotechnology company’s stock valued at $1,311,000 after buying an additional 12,652 shares during the last quarter. Hamilton Lane Advisors LLC bought a new stake in CytomX Therapeutics during the first quarter valued at $366,000. Russell Investments Group Ltd. bought a new stake in CytomX Therapeutics during the fourth quarter valued at $243,000. Finally, Spark Investment Management LLC increased its stake in CytomX Therapeutics by 52.5% in the first quarter. Spark Investment Management LLC now owns 101,700 shares of the biotechnology company’s stock valued at $1,756,000 after buying an additional 35,000 shares during the last quarter. 52.33% of the stock is owned by institutional investors.
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.
Receive News & Ratings for CytomX Therapeutics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CytomX Therapeutics Inc. and related companies with MarketBeat.com's FREE daily email newsletter.