CytomX Therapeutics, Inc. (CTMX) Expected to Post Quarterly Sales of $17.27 Million
Equities analysts expect CytomX Therapeutics, Inc. (NASDAQ:CTMX) to post $17.27 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for CytomX Therapeutics’ earnings, with the highest sales estimate coming in at $23.30 million and the lowest estimate coming in at $13.50 million. CytomX Therapeutics posted sales of $3.45 million in the same quarter last year, which suggests a positive year-over-year growth rate of 400.6%. The business is expected to report its next quarterly earnings results on Thursday, November 2nd.
According to Zacks, analysts expect that CytomX Therapeutics will report full-year sales of $17.27 million for the current year, with estimates ranging from $36.00 million to $53.10 million. For the next fiscal year, analysts forecast that the company will report sales of $66.20 million per share, with estimates ranging from $40.00 million to $104.60 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that that provide coverage for CytomX Therapeutics.
CytomX Therapeutics (NASDAQ:CTMX) last issued its quarterly earnings results on Monday, August 7th. The biotechnology company reported ($0.69) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.30). The business had revenue of $8.75 million for the quarter, compared to analyst estimates of $4.95 million. CytomX Therapeutics had a negative return on equity of 84.61% and a negative net margin of 206.33%.
Several equities analysts have weighed in on the company. BidaskClub upgraded CytomX Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, August 9th. Nomura lifted their target price on CytomX Therapeutics to $44.00 and gave the stock a “buy” rating in a report on Wednesday. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of CytomX Therapeutics in a report on Wednesday. Cowen and Company reissued a “buy” rating on shares of CytomX Therapeutics in a research note on Tuesday, August 8th. Finally, Bank of America Corporation reissued a “buy” rating and set a $30.00 price target (up from $28.00) on shares of CytomX Therapeutics in a research note on Wednesday, August 9th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $32.67.
Shares of CytomX Therapeutics (CTMX) traded up 21.53% during mid-day trading on Wednesday, hitting $23.09. 3,353,455 shares of the stock were exchanged. The stock’s 50 day moving average price is $16.92 and its 200-day moving average price is $15.62. CytomX Therapeutics has a 12-month low of $9.85 and a 12-month high of $24.67. The stock’s market capitalization is $851.26 million.
In other news, major shareholder Robert I. Tepper sold 24,777 shares of the business’s stock in a transaction on Wednesday, October 4th. The stock was sold at an average price of $24.34, for a total value of $603,072.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Sean A. Mccarthy sold 4,781 shares of the business’s stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $15.00, for a total value of $71,715.00. Following the completion of the transaction, the insider now directly owns 9,026 shares of the company’s stock, valued at $135,390. The disclosure for this sale can be found here. Over the last three months, insiders sold 90,744 shares of company stock valued at $1,747,180. Corporate insiders own 8.00% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. EcoR1 Capital LLC purchased a new position in CytomX Therapeutics during the 1st quarter worth $13,729,000. Numeric Investors LLC purchased a new position in CytomX Therapeutics during the 2nd quarter worth $9,730,000. Perceptive Advisors LLC grew its stake in CytomX Therapeutics by 65.7% during the 1st quarter. Perceptive Advisors LLC now owns 1,530,659 shares of the biotechnology company’s stock worth $26,434,000 after buying an additional 606,896 shares during the last quarter. Driehaus Capital Management LLC purchased a new position in CytomX Therapeutics during the 1st quarter worth $5,089,000. Finally, State Street Corp grew its stake in CytomX Therapeutics by 58.8% during the 2nd quarter. State Street Corp now owns 446,315 shares of the biotechnology company’s stock worth $6,914,000 after buying an additional 165,342 shares during the last quarter. 59.97% of the stock is owned by hedge funds and other institutional investors.
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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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