$10.70 Million in Sales Expected for CytomX Therapeutics Inc (CTMX) This Quarter

Wall Street analysts predict that CytomX Therapeutics Inc (NASDAQ:CTMX) will announce sales of $10.70 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for CytomX Therapeutics’ earnings. The lowest sales estimate is $600,000.00 and the highest is $16.50 million. CytomX Therapeutics reported sales of $6.27 million during the same quarter last year, which would suggest a positive year over year growth rate of 70.7%. The business is expected to announce its next earnings results on Thursday, March 1st.

On average, analysts expect that CytomX Therapeutics will report full-year sales of $10.70 million for the current fiscal year, with estimates ranging from $45.20 million to $61.00 million. For the next fiscal year, analysts forecast that the company 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 calculations are a mean average based on a survey of sell-side research firms that cover CytomX Therapeutics.

CytomX Therapeutics (NASDAQ:CTMX) last issued its earnings results on Tuesday, November 7th. The biotechnology company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.14). CytomX Therapeutics had a negative net margin of 113.64% and a negative return on equity of 92.42%.

CTMX has been the subject of several research reports. Zacks Investment Research upgraded shares of CytomX Therapeutics from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a research report on Monday, October 16th. Citigroup initiated coverage on shares of CytomX Therapeutics in a research report on Friday, January 5th. They issued a “buy” rating and a $40.00 price target for the company. BidaskClub upgraded shares of CytomX Therapeutics from a “hold” rating to a “buy” rating in a research report on Friday, December 15th. Cantor Fitzgerald initiated coverage on shares of CytomX Therapeutics in a research report on Monday, October 23rd. They issued an “overweight” rating and a $35.00 price target for the company. Finally, ValuEngine downgraded shares of CytomX Therapeutics from a “hold” rating to a “sell” rating in a research report on Friday, December 1st. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $32.78.

In other CytomX Therapeutics news, insider Sean A. Mccarthy sold 14,340 shares of the company’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $20.60, for a total transaction of $295,404.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Debanjan Ray sold 2,500 shares of the company’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $20.58, for a total transaction of $51,450.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 56,466 shares of company stock valued at $1,267,014. 8.00% of the stock is owned by insiders.

A number of institutional investors have recently made changes to their positions in CTMX. New York State Common Retirement Fund grew its stake in shares of CytomX Therapeutics by 48.8% during the 2nd quarter. New York State Common Retirement Fund now owns 31,100 shares of the biotechnology company’s stock worth $482,000 after purchasing an additional 10,199 shares during the period. Trexquant Investment LP acquired a new position in shares of CytomX Therapeutics during the 3rd quarter worth $474,000. California State Teachers Retirement System grew its stake in shares of CytomX Therapeutics by 27.8% during the 2nd quarter. California State Teachers Retirement System now owns 51,430 shares of the biotechnology company’s stock worth $797,000 after purchasing an additional 11,200 shares during the period. Hamilton Lane Advisors LLC grew its stake in shares of CytomX Therapeutics by 77.8% during the 4th quarter. Hamilton Lane Advisors LLC now owns 50,394 shares of the biotechnology company’s stock worth $1,064,000 after purchasing an additional 22,048 shares during the period. Finally, TIAA CREF Investment Management LLC grew its stake in shares of CytomX Therapeutics by 183.7% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 169,552 shares of the biotechnology company’s stock worth $2,628,000 after purchasing an additional 109,791 shares during the period. Institutional investors own 63.15% of the company’s stock.

CytomX Therapeutics (NASDAQ CTMX) opened at $26.74 on Tuesday. CytomX Therapeutics has a twelve month low of $11.12 and a twelve month high of $28.05. The stock has a market cap of $1,030.00 and a price-to-earnings ratio of -17.03.

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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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Earnings History and Estimates for CytomX Therapeutics (NASDAQ:CTMX)

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