Assenagon Asset Management S.A. Trims Stake in CytomX Therapeutics, Inc. $CTMX

Assenagon Asset Management S.A. reduced its holdings in CytomX Therapeutics, Inc. (NASDAQ:CTMX) by 38.6% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 364,173 shares of the biotechnology company’s stock after selling 228,523 shares during the quarter. Assenagon Asset Management S.A. owned 0.21% of CytomX Therapeutics worth $1,712,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Orbimed Advisors LLC bought a new position in shares of CytomX Therapeutics in the second quarter worth approximately $19,208,000. Commodore Capital LP purchased a new stake in shares of CytomX Therapeutics during the 2nd quarter valued at $17,462,000. Perceptive Advisors LLC purchased a new stake in shares of CytomX Therapeutics during the 2nd quarter valued at $15,876,000. State Street Corp lifted its holdings in shares of CytomX Therapeutics by 697.1% during the 4th quarter. State Street Corp now owns 5,140,931 shares of the biotechnology company’s stock worth $21,900,000 after acquiring an additional 4,495,949 shares during the last quarter. Finally, Baker BROS. Advisors LP lifted its holdings in shares of CytomX Therapeutics by 22.0% during the 3rd quarter. Baker BROS. Advisors LP now owns 4,250,826 shares of the biotechnology company’s stock worth $13,560,000 after acquiring an additional 766,600 shares during the last quarter. Hedge funds and other institutional investors own 67.77% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Wall Street Zen raised CytomX Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 9th. Jefferies Financial Group upped their price objective on CytomX Therapeutics from $8.00 to $16.00 and gave the stock a “buy” rating in a report on Wednesday, March 18th. Guggenheim increased their price objective on CytomX Therapeutics from $10.00 to $15.00 and gave the company a “buy” rating in a research report on Wednesday, March 18th. Wedbush raised their price objective on CytomX Therapeutics from $6.00 to $11.00 and gave the company an “outperform” rating in a report on Tuesday, March 17th. Finally, HC Wainwright dropped their target price on CytomX Therapeutics from $17.00 to $11.00 and set a “buy” rating for the company in a research report on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $12.10.

CytomX Therapeutics Stock Down 4.0%

CytomX Therapeutics stock opened at $3.60 on Thursday. The firm has a fifty day simple moving average of $3.60 and a two-hundred day simple moving average of $4.41. CytomX Therapeutics, Inc. has a twelve month low of $1.72 and a twelve month high of $8.21. The company has a market capitalization of $612.68 million, a PE ratio of -8.78 and a beta of 2.08.

CytomX Therapeutics (NASDAQ:CTMX) last announced its quarterly earnings data on Thursday, May 7th. The biotechnology company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.04. The firm had revenue of $10.26 million for the quarter, compared to analysts’ expectations of $4.68 million. CytomX Therapeutics had a negative return on equity of 36.61% and a negative net margin of 166.40%. As a group, equities analysts expect that CytomX Therapeutics, Inc. will post -0.45 earnings per share for the current fiscal year.

CytomX Therapeutics Company Profile

CytomX Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of next-generation therapeutics based on its proprietary Probody® platform. The company engineers masked antibody prodrugs that remain inactive in healthy tissue but are selectively activated in the tumor microenvironment. This approach is designed to enhance the safety and tolerability of antibody-based therapies, particularly those targeting immuno-oncology pathways.

At the core of CytomX’s pipeline is Pacmilimab (CX-072), an anti–PD-L1 Probody therapeutic currently undergoing clinical evaluation for multiple solid tumor indications.