CytomX Therapeutics, Inc. (CTMX) Expected to Announce Quarterly Sales of $10.70 Million
Wall Street analysts expect CytomX Therapeutics, Inc. (NASDAQ:CTMX) to report sales of $10.70 million for the current quarter, Zacks reports. Three analysts have provided estimates for CytomX Therapeutics’ earnings, with the lowest sales estimate coming in at $600,000.00 and the highest estimate coming in at $16.50 million. CytomX Therapeutics reported sales of $6.27 million in the same quarter last year, which indicates a positive year over year growth rate of 70.7%. The company is expected to report its next quarterly earnings report on Thursday, March 1st.
On average, analysts expect that CytomX Therapeutics will report full-year sales of $10.70 million for the current year, with estimates ranging from $45.20 million to $61.00 million. For the next financial year, analysts expect that the business will post sales of $79.53 million per share, with estimates ranging from $60.00 million to $104.60 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for CytomX Therapeutics.
CTMX has been the subject of several research reports. Cowen and Company reissued a “buy” rating on shares of CytomX Therapeutics in a report on Tuesday, August 8th. Nomura raised their price objective on CytomX Therapeutics to $44.00 and gave the stock a “buy” rating in a research note on Wednesday, October 4th. Bank of America Corporation restated a “buy” rating and set a $30.00 price objective (up previously from $28.00) on shares of CytomX Therapeutics in a research note on Wednesday, August 9th. Cantor Fitzgerald initiated coverage on CytomX Therapeutics in a research note on Monday, October 23rd. They set an “overweight” rating and a $35.00 price objective on the stock. Finally, ValuEngine lowered CytomX Therapeutics from a “hold” rating to a “sell” rating in a research note on Friday, September 15th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $31.88.
Shares of CytomX Therapeutics (NASDAQ CTMX) opened at $19.75 on Friday. CytomX Therapeutics has a fifty-two week low of $10.03 and a fifty-two week high of $24.67.
In other news, major shareholder Robert I. Tepper sold 20,000 shares of CytomX Therapeutics stock in a transaction on Tuesday, September 19th. The stock was sold at an average price of $18.00, for a total value of $360,000.00. Following the transaction, the insider now owns 54,293 shares in the company, valued at approximately $977,274. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Robert I. Tepper sold 24,777 shares of CytomX Therapeutics stock in a transaction on Wednesday, October 4th. The shares were sold at an average price of $24.34, for a total value of $603,072.18. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 187,355 shares of company stock worth $4,031,706. Corporate insiders own 4.70% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of CTMX. Legal & General Group Plc increased its stake in shares of CytomX Therapeutics by 28.6% in the 2nd quarter. Legal & General Group Plc now owns 6,448 shares of the biotechnology company’s stock valued at $101,000 after purchasing an additional 1,434 shares during the last quarter. Macquarie Group Ltd. bought a new position in shares of CytomX Therapeutics in the 3rd quarter valued at $107,000. First Quadrant L P CA bought a new position in shares of CytomX Therapeutics in the 2nd quarter valued at $160,000. Cubist Systematic Strategies LLC bought a new position in shares of CytomX Therapeutics in the 2nd quarter valued at $174,000. Finally, Goldman Sachs Group Inc. bought a new position in shares of CytomX Therapeutics in the 1st quarter valued at $190,000. Institutional investors own 60.02% of the company’s stock.
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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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