Exome Asset Management LLC Decreases Position in CytomX Therapeutics, Inc. $CTMX

Exome Asset Management LLC lowered its stake in CytomX Therapeutics, Inc. (NASDAQ:CTMX) by 30.0% in the first quarter, Holdings Channel.com reports. The institutional investor owned 521,468 shares of the biotechnology company’s stock after selling 223,837 shares during the quarter. Exome Asset Management LLC’s holdings in CytomX Therapeutics were worth $2,451,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of CTMX. Orbimed Advisors LLC acquired a new position in CytomX Therapeutics during the 2nd quarter worth approximately $19,208,000. Commodore Capital LP acquired a new stake in CytomX Therapeutics in the second quarter valued at approximately $17,462,000. Perceptive Advisors LLC purchased a new stake in shares of CytomX Therapeutics during the second quarter valued at approximately $15,876,000. State Street Corp raised its stake in shares of CytomX Therapeutics by 697.1% during the fourth quarter. State Street Corp now owns 5,140,931 shares of the biotechnology company’s stock valued at $21,900,000 after purchasing an additional 4,495,949 shares during the period. Finally, Siren L.L.C. acquired a new position in shares of CytomX Therapeutics during the first quarter worth $16,251,000. 67.77% of the stock is currently owned by hedge funds and other institutional investors.

CytomX Therapeutics Stock Up 0.3%

CTMX stock opened at $3.25 on Tuesday. The stock’s 50 day moving average is $3.43 and its two-hundred day moving average is $4.34. CytomX Therapeutics, Inc. has a 52-week low of $1.72 and a 52-week high of $8.21. The company has a market capitalization of $553.12 million, a PE ratio of -7.93 and a beta of 2.08.

CytomX Therapeutics (NASDAQ:CTMX) last released its earnings results on Thursday, May 7th. The biotechnology company reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.04. CytomX Therapeutics had a negative return on equity of 36.61% and a negative net margin of 166.40%.The company had revenue of $10.26 million during the quarter, compared to analysts’ expectations of $4.68 million. As a group, sell-side analysts anticipate that CytomX Therapeutics, Inc. will post -0.45 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CTMX. Weiss Ratings restated a “sell (d)” rating on shares of CytomX Therapeutics in a research note on Tuesday, June 16th. Wolfe Research started coverage on shares of CytomX Therapeutics in a research note on Tuesday, May 19th. They set an “outperform” rating and a $6.00 price target on the stock. Zacks Research upgraded shares of CytomX Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 21st. HC Wainwright decreased their price objective on shares of CytomX Therapeutics from $17.00 to $11.00 and set a “buy” rating for the company in a research report on Monday, May 11th. Finally, Wall Street Zen raised shares of CytomX Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 9th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $12.10.

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.