Analysts expect that CytomX Therapeutics, Inc. (NASDAQ:CTMX) will announce sales of $10.70 million for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for CytomX Therapeutics’ earnings, with estimates ranging from $600,000.00 to $16.50 million. CytomX Therapeutics posted sales of $6.27 million in the same quarter last year, which suggests a positive year-over-year growth rate of 70.7%. The company is scheduled to issue 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 financial year, analysts forecast that the company will report sales of $79.53 million per share, with estimates ranging from $60.00 million to $104.60 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow CytomX Therapeutics.
Several equities analysts have recently commented on the stock. Zacks Investment Research cut shares of CytomX Therapeutics from a “buy” rating to a “hold” rating in a research report on Friday. Cantor Fitzgerald assumed coverage on shares of CytomX Therapeutics in a research report on Monday, October 23rd. They issued an “overweight” rating and a $35.00 target price for the company. Cowen and Company reiterated an “outperform” rating on shares of CytomX Therapeutics in a research report on Thursday, October 5th. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of CytomX Therapeutics in a research report on Wednesday, October 4th. Finally, Bank of America Corporation upped their price objective on shares of CytomX Therapeutics from $30.00 to $34.00 and gave the stock a “buy” rating in a research report on Wednesday, October 4th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $31.88.
In related news, CEO Sean A. Mccarthy sold 14,342 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $19.86, for a total value of $284,832.12. Following the sale, the chief executive officer now directly owns 18,587 shares of the company’s stock, valued at $369,137.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider William Michael Kavanaugh sold 48,368 shares of the firm’s stock in a transaction that occurred on Wednesday, October 4th. The shares were sold at an average price of $24.34, for a total transaction of $1,177,277.12. The disclosure for this sale can be found here. Insiders have sold 187,355 shares of company stock valued at $4,031,706 in the last 90 days. 8.00% of the stock is currently owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in CTMX. Legal & General Group Plc boosted its holdings in shares of CytomX Therapeutics by 28.6% during the 2nd quarter. Legal & General Group Plc now owns 6,448 shares of the biotechnology company’s stock valued at $101,000 after buying an additional 1,434 shares in the last quarter. Macquarie Group Ltd. purchased a new position in shares of CytomX Therapeutics in the 3rd quarter worth about $107,000. First Quadrant L P CA purchased a new position in shares of CytomX Therapeutics in the 2nd quarter worth about $160,000. Cubist Systematic Strategies LLC purchased a new position in CytomX Therapeutics in the 2nd quarter worth about $174,000. Finally, Goldman Sachs Group Inc. purchased a new position in CytomX Therapeutics in the 1st quarter worth about $190,000. Institutional investors and hedge funds own 57.85% 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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