CytomX Therapeutics, Inc. (CTMX) Expected to Announce Quarterly Sales of $16.60 Million
Analysts expect CytomX Therapeutics, Inc. (NASDAQ:CTMX) to post $16.60 million in sales for the current fiscal quarter, according to Zacks. Three analysts have made estimates for CytomX Therapeutics’ earnings. The highest sales estimate is $23.30 million and the lowest is $11.50 million. CytomX Therapeutics posted sales of $3.45 million during the same quarter last year, which suggests a positive year-over-year growth rate of 381.2%. The business is scheduled to report its next quarterly earnings report on Thursday, November 2nd.
According to Zacks, analysts expect that CytomX Therapeutics will report full-year sales of $16.60 million for the current financial year, with estimates ranging from $36.00 million to $53.10 million. For the next fiscal year, analysts anticipate that the business will report sales of $72.87 million per share, with estimates ranging from $40.00 million to $104.60 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow CytomX Therapeutics.
CytomX Therapeutics (NASDAQ:CTMX) last released its quarterly earnings data on Monday, August 7th. The biotechnology company reported ($0.69) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.39) by ($0.30). CytomX Therapeutics had a negative net margin of 206.33% and a negative return on equity of 84.61%. The company had revenue of $8.75 million for the quarter, compared to analyst estimates of $4.95 million.
A number of brokerages have recently issued reports on CTMX. BidaskClub cut CytomX Therapeutics from a “hold” rating to a “sell” rating in a report on Monday, July 24th. Cann reissued a “hold” rating on shares of CytomX Therapeutics in a report on Tuesday, August 8th. Cowen and Company reissued a “buy” rating on shares of CytomX Therapeutics in a report on Wednesday, June 28th. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of CytomX Therapeutics in a report on Wednesday, October 4th. Finally, Wedbush set a $37.00 target price on CytomX Therapeutics and gave the stock a “buy” rating in a report on Wednesday, October 4th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $31.43.
CytomX Therapeutics (CTMX) opened at 20.16 on Friday. The firm’s market cap is $743.24 million. The company’s 50-day moving average price is $18.88 and its 200-day moving average price is $15.92. CytomX Therapeutics has a 52-week low of $9.85 and a 52-week high of $24.67.
In related news, major shareholder Robert I. Tepper sold 24,777 shares of the stock in a transaction that occurred on Wednesday, October 4th. The stock was sold at an average price of $24.34, for a total transaction of $603,072.18. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider William Michael Kavanaugh sold 48,368 shares of the stock in a transaction that occurred on Wednesday, October 4th. The stock was sold at an average price of $24.34, for a total value of $1,177,277.12. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 177,794 shares of company stock worth $3,806,089. 4.70% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc grew its position in CytomX Therapeutics by 28.6% during the 2nd quarter. Legal & General Group Plc now owns 6,448 shares of the biotechnology company’s stock worth $101,000 after acquiring an additional 1,434 shares during the last quarter. First Quadrant L P CA bought a new stake in CytomX Therapeutics during the 2nd quarter worth approximately $160,000. Cubist Systematic Strategies LLC bought a new stake in CytomX Therapeutics during the 2nd quarter worth approximately $174,000. Goldman Sachs Group Inc. bought a new stake in CytomX Therapeutics during the 1st quarter worth approximately $190,000. Finally, Voya Investment Management LLC bought a new stake in CytomX Therapeutics during the 2nd quarter worth approximately $203,000. Institutional investors and hedge funds own 59.97% of the company’s stock.
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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