CytomX Therapeutics, Inc. (CTMX) Now Covered by Cantor Fitzgerald
Stock analysts at Cantor Fitzgerald initiated coverage on shares of CytomX Therapeutics, Inc. (NASDAQ:CTMX) in a research note issued on Monday. The brokerage set an “overweight” rating and a $35.00 price target on the biotechnology company’s stock. Cantor Fitzgerald’s price target would suggest a potential upside of 74.65% from the company’s current price.
CTMX has been the subject of a number of other research reports. Wedbush assumed coverage on shares of CytomX Therapeutics in a research report on Thursday, September 7th. They set an “outperform” rating and a $26.00 target price for the company. Cann reiterated a “hold” rating on shares of CytomX Therapeutics in a research report on Tuesday, August 8th. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of CytomX Therapeutics in a research report on Wednesday, October 4th. BidaskClub cut shares of CytomX Therapeutics from a “hold” rating to a “sell” rating in a research report on Monday, July 24th. Finally, Cowen and Company reiterated a “buy” rating on shares of CytomX Therapeutics in a research report on Wednesday, June 28th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $31.88.
CytomX Therapeutics (NASDAQ CTMX) traded up 0.70% on Monday, reaching $20.18. 40,052 shares of the company’s stock were exchanged. The firm has a 50-day moving average of $18.95 and a 200-day moving average of $15.93. The firm’s market capitalization is $743.98 million. CytomX Therapeutics has a 12 month low of $9.85 and a 12 month high of $24.67.
CytomX Therapeutics (NASDAQ:CTMX) last announced its earnings results on Monday, August 7th. The biotechnology company reported ($0.69) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.30). The firm 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%. On average, equities analysts expect that CytomX Therapeutics will post ($1.47) earnings per share for the current year.
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In other news, CEO Sean A. Mccarthy sold 19,120 shares of the firm’s stock in a transaction dated Wednesday, October 4th. The shares were sold at an average price of $24.13, for a total value of $461,365.60. Following the transaction, the chief executive officer now owns 23,365 shares of the company’s stock, valued at approximately $563,797.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider William Michael Kavanaugh sold 48,368 shares of the firm’s stock in a transaction dated Wednesday, October 4th. The shares were sold at an average price of $24.34, for a total transaction of $1,177,277.12. The disclosure for this sale can be found here. Insiders sold a total of 177,794 shares of company stock valued at $3,806,089 in the last 90 days. Corporate insiders own 8.00% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. California State Teachers Retirement System boosted its stake in shares of CytomX Therapeutics by 27.8% in the 2nd quarter. California State Teachers Retirement System now owns 51,430 shares of the biotechnology company’s stock valued at $797,000 after purchasing an additional 11,200 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in CytomX Therapeutics by 36.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,529 shares of the biotechnology company’s stock worth $365,000 after acquiring an additional 6,342 shares during the last quarter. Redmile Group LLC boosted its stake in CytomX Therapeutics by 2.4% during the 2nd quarter. Redmile Group LLC now owns 698,392 shares of the biotechnology company’s stock worth $10,825,000 after acquiring an additional 16,500 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in CytomX Therapeutics during the 2nd quarter worth approximately $174,000. Finally, State Street Corp boosted 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 acquiring an additional 165,342 shares during the last quarter. 60.04% of the stock is currently 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.
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