CytomX Therapeutics (NASDAQ:CTMX) Posts Earnings Results, Misses Expectations By $0.14 EPS

CytomX Therapeutics (NASDAQ:CTMX) announced its quarterly earnings results on Monday. The biotechnology company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.14), FiscalAI reports. The firm had revenue of $0.66 million for the quarter, compared to analyst estimates of $7.33 million. CytomX Therapeutics had a net margin of 24.66% and a return on equity of 44.49%.

CytomX Therapeutics Price Performance

CTMX opened at $4.68 on Monday. CytomX Therapeutics has a fifty-two week low of $0.40 and a fifty-two week high of $6.35. The firm has a market capitalization of $792.93 million, a P/E ratio of 11.70 and a beta of 2.44. The company’s 50-day moving average is $5.19 and its 200 day moving average is $4.04.

Institutional Investors Weigh In On CytomX Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Empowered Funds LLC purchased a new position in shares of CytomX Therapeutics in the 4th quarter worth approximately $133,000. Truvestments Capital LLC increased its position in shares of CytomX Therapeutics by 60.4% during the fourth quarter. Truvestments Capital LLC now owns 27,428 shares of the biotechnology company’s stock valued at $117,000 after acquiring an additional 10,327 shares during the last quarter. Bayesian Capital Management LP purchased a new stake in shares of CytomX Therapeutics during the second quarter valued at approximately $114,000. Engineers Gate Manager LP bought a new stake in CytomX Therapeutics during the fourth quarter worth $113,000. Finally, Mangrove Partners IM LLC bought a new stake in CytomX Therapeutics during the fourth quarter worth $112,000. Hedge funds and other institutional investors own 67.77% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on CTMX shares. Guggenheim restated a “buy” rating and issued a $10.00 price target on shares of CytomX Therapeutics in a research report on Monday, March 9th. Piper Sandler boosted their price target on CytomX Therapeutics from $6.50 to $10.00 and gave the company an “overweight” rating in a research note on Tuesday, January 20th. Cantor Fitzgerald increased their price objective on shares of CytomX Therapeutics from $6.00 to $10.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 4th. Finally, Barclays increased their target price on CytomX Therapeutics from $8.00 to $10.00 and gave the stock an “overweight” rating in a report on Wednesday, February 4th. Seven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $9.00.

About CytomX Therapeutics

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.