Wedbush Analysts Give CytomX Therapeutics, Inc. (CTMX) a $37.00 Price Target
CytomX Therapeutics, Inc. (NASDAQ:CTMX) has been given a $37.00 price target by research analysts at Wedbush in a research note issued on Wednesday. The firm currently has a “buy” rating on the biotechnology company’s stock. Wedbush’s price objective suggests a potential upside of 67.72% from the company’s previous close. Wedbush also issued estimates for CytomX Therapeutics’ Q1 2018 earnings at ($0.21) EPS, Q2 2018 earnings at ($0.24) EPS, Q3 2018 earnings at ($0.27) EPS and Q4 2018 earnings at ($0.30) EPS.
Other analysts also recently issued research reports about the stock. Cowen and Company reissued a “buy” rating on shares of CytomX Therapeutics in a research note on Tuesday, August 8th. BidaskClub raised shares of CytomX Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, July 8th. Bank of America Corporation reaffirmed a “buy” rating and set a $30.00 target price (up from $28.00) on shares of CytomX Therapeutics in a research report on Wednesday, August 9th. ValuEngine lowered shares of CytomX Therapeutics from a “hold” rating to a “sell” rating in a research report on Friday, September 15th. Finally, Jefferies Group LLC set a $25.00 price objective on shares of CytomX Therapeutics and gave the company a “buy” rating in a report on Friday, August 25th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $32.67.
CytomX Therapeutics (CTMX) traded down 4.46% during midday trading on Wednesday, reaching $22.06. The company had a trading volume of 650,923 shares. The company’s market capitalization is $813.29 million. The firm has a 50-day moving average price of $17.15 and a 200-day moving average price of $15.67. CytomX Therapeutics has a 52 week low of $9.85 and a 52 week high of $24.67.
CytomX Therapeutics (NASDAQ:CTMX) last issued its quarterly earnings data on Monday, August 7th. The biotechnology company reported ($0.69) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.39) by ($0.30). The firm had revenue of $8.75 million for the quarter, compared to analysts’ expectations of $4.95 million. CytomX Therapeutics had a negative net margin of 206.33% and a negative return on equity of 84.61%. Analysts expect that CytomX Therapeutics will post ($1.47) EPS for the current fiscal year.
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In other CytomX Therapeutics news, insider Sean A. Mccarthy sold 4,781 shares of the business’s stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $15.00, for a total value of $71,715.00. Following the transaction, the insider now directly owns 9,026 shares in the company, valued at approximately $135,390. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Debanjan Ray sold 2,500 shares of the business’s stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $15.00, for a total transaction of $37,500.00. Following the completion of the transaction, the chief financial officer now owns 19,626 shares in the company, valued at $294,390. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 100,306 shares of company stock valued at $1,924,746. 4.70% of the stock is owned by corporate insiders.
Several hedge funds have recently modified their holdings of the company. FMR LLC lifted its holdings in shares of CytomX Therapeutics by 0.6% in the 2nd quarter. FMR LLC now owns 5,512,459 shares of the biotechnology company’s stock worth $85,444,000 after acquiring an additional 34,732 shares during the last quarter. Perceptive Advisors LLC lifted its holdings in CytomX Therapeutics by 65.7% during the 1st quarter. Perceptive Advisors LLC now owns 1,530,659 shares of the biotechnology company’s stock worth $26,434,000 after buying an additional 606,896 shares in the last quarter. Vanguard Group Inc. lifted its holdings in CytomX Therapeutics by 12.2% during the 2nd quarter. Vanguard Group Inc. now owns 924,138 shares of the biotechnology company’s stock worth $14,323,000 after buying an additional 100,607 shares in the last quarter. EcoR1 Capital LLC acquired a new stake in CytomX Therapeutics during the 1st quarter worth approximately $13,729,000. Finally, Redmile Group LLC lifted its holdings in CytomX Therapeutics by 2.4% during the 2nd quarter. Redmile Group LLC now owns 698,392 shares of the biotechnology company’s stock worth $10,825,000 after buying an additional 16,500 shares in the last quarter. Hedge funds and other institutional investors own 59.97% of the company’s stock.
CytomX Therapeutics Company Profile
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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