CytomX Therapeutics, Inc. (CTMX) Posts Quarterly Earnings Results, Misses Estimates By $0.30 EPS
CytomX Therapeutics, Inc. (NASDAQ:CTMX) posted its earnings results on Monday. The biotechnology company reported ($0.69) EPS for the quarter, missing the consensus estimate of ($0.39) by $0.30, Morningstar.com reports. CytomX Therapeutics had a negative net margin of 208.92% and a negative return on equity of 59.65%. The firm had revenue of $8.75 million during the quarter, compared to analyst estimates of $4.95 million.
Shares of CytomX Therapeutics (NASDAQ:CTMX) traded up 2.34% during midday trading on Tuesday, reaching $13.97. The company had a trading volume of 78,775 shares. CytomX Therapeutics has a one year low of $9.84 and a one year high of $20.02. The company has a 50 day moving average price of $14.72 and a 200-day moving average price of $14.43. The firm’s market capitalization is $513.38 million.
In related news, insider Sean A. Mccarthy sold 4,481 shares of CytomX Therapeutics stock in a transaction that occurred on Monday, June 26th. The shares were sold at an average price of $15.00, for a total value of $67,215.00. Following the sale, the insider now owns 8,726 shares of the company’s stock, valued at approximately $130,890. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Sean A. Mccarthy sold 4,781 shares of CytomX Therapeutics stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $15.52, for a total transaction of $74,201.12. Following the completion of the sale, the insider now directly owns 9,026 shares in the company, valued at approximately $140,083.52. The disclosure for this sale can be found here. Insiders sold a total of 32,062 shares of company stock worth $497,641 in the last ninety days. 8.00% of the stock is currently owned by insiders.
A number of large investors have recently modified their holdings of the stock. Russell Investments Group Ltd. acquired a new stake in shares of CytomX Therapeutics during the fourth quarter worth about $243,000. State Street Corp boosted its stake in shares of CytomX Therapeutics by 1.7% in the fourth quarter. State Street Corp now owns 275,483 shares of the biotechnology company’s stock worth $3,027,000 after buying an additional 4,596 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in shares of CytomX Therapeutics during the fourth quarter worth about $1,002,000. Teachers Advisors LLC boosted its stake in shares of CytomX Therapeutics by 6.7% in the fourth quarter. Teachers Advisors LLC now owns 34,961 shares of the biotechnology company’s stock worth $384,000 after buying an additional 2,209 shares during the last quarter. Finally, Highbridge Capital Management LLC acquired a new stake in shares of CytomX Therapeutics during the fourth quarter worth about $158,000. 52.33% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts have recently commented on CTMX shares. Jefferies Group LLC reaffirmed a “buy” rating and issued a $25.00 target price on shares of CytomX Therapeutics in a research report on Wednesday, April 26th. Zacks Investment Research downgraded CytomX Therapeutics from a “buy” rating to a “hold” rating in a research report on Monday, May 29th. BidaskClub raised CytomX Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, July 8th. HC Wainwright reaffirmed a “buy” rating on shares of CytomX Therapeutics in a research report on Monday, May 8th. Finally, ValuEngine downgraded CytomX Therapeutics from a “hold” rating to a “sell” rating in a research report on Thursday, May 11th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $24.50.
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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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