CytomX Therapeutics Inc (CTMX) Expected to Post Earnings of -$0.52 Per Share

Wall Street brokerages forecast that CytomX Therapeutics Inc (NASDAQ:CTMX) will report ($0.52) earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for CytomX Therapeutics’ earnings. The lowest EPS estimate is ($0.60) and the highest is ($0.40). CytomX Therapeutics reported earnings per share of $0.02 in the same quarter last year, which suggests a negative year over year growth rate of 2,700%. The firm is scheduled to issue its next quarterly earnings results on Wednesday, March 6th.

According to Zacks, analysts expect that CytomX Therapeutics will report full-year earnings of ($1.79) per share for the current fiscal year, with EPS estimates ranging from ($1.91) to ($1.57). For the next financial year, analysts expect that the firm will report earnings of ($2.14) per share, with EPS estimates ranging from ($3.23) to ($1.15). Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for CytomX Therapeutics.

CytomX Therapeutics (NASDAQ:CTMX) last announced its earnings results on Thursday, November 8th. The biotechnology company reported ($0.53) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.42) by ($0.11). CytomX Therapeutics had a negative return on equity of 65.03% and a negative net margin of 68.90%. The company had revenue of $12.51 million during the quarter, compared to the consensus estimate of $16.42 million.

A number of equities analysts have weighed in on CTMX shares. Goldman Sachs Group started coverage on shares of CytomX Therapeutics in a research note on Monday, October 15th. They issued a “neutral” rating and a $21.00 target price for the company. HC Wainwright started coverage on shares of CytomX Therapeutics in a research note on Thursday, September 13th. They issued a “buy” rating and a $32.00 target price for the company. BidaskClub downgraded shares of CytomX Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 24th. Zacks Investment Research downgraded shares of CytomX Therapeutics from a “buy” rating to a “hold” rating in a research note on Monday, August 13th. Finally, ValuEngine cut shares of CytomX Therapeutics from a “buy” rating to a “hold” rating in a research report on Monday, September 17th. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company. CytomX Therapeutics has a consensus rating of “Buy” and a consensus price target of $34.88.

Shares of NASDAQ CTMX traded down $1.08 during trading on Wednesday, reaching $13.38. The company had a trading volume of 9,109 shares, compared to its average volume of 474,901. CytomX Therapeutics has a 52 week low of $12.75 and a 52 week high of $35.00. The company has a market cap of $650.80 million, a PE ratio of -11.53 and a beta of 1.46.

In other news, insider Sean A. Mccarthy sold 13,052 shares of CytomX Therapeutics stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $21.86, for a total transaction of $285,316.72. Following the completion of the sale, the insider now owns 95,115 shares in the company, valued at approximately $2,079,213.90. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Debanjan Ray sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $22.39, for a total transaction of $67,170.00. Following the transaction, the chief financial officer now owns 8,928 shares of the company’s stock, valued at approximately $199,897.92. The disclosure for this sale can be found here. In the last quarter, insiders have sold 28,578 shares of company stock valued at $550,757. 8.50% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. FMR LLC grew its holdings in CytomX Therapeutics by 15.4% during the third quarter. FMR LLC now owns 6,744,553 shares of the biotechnology company’s stock valued at $124,774,000 after purchasing an additional 900,927 shares during the period. BlackRock Inc. grew its holdings in CytomX Therapeutics by 19.9% during the third quarter. BlackRock Inc. now owns 3,868,566 shares of the biotechnology company’s stock valued at $71,570,000 after purchasing an additional 642,165 shares during the period. Perceptive Advisors LLC grew its holdings in CytomX Therapeutics by 38.5% during the third quarter. Perceptive Advisors LLC now owns 2,661,715 shares of the biotechnology company’s stock valued at $49,242,000 after purchasing an additional 740,000 shares during the period. Renaissance Technologies LLC grew its holdings in CytomX Therapeutics by 7.7% during the third quarter. Renaissance Technologies LLC now owns 1,520,500 shares of the biotechnology company’s stock valued at $28,129,000 after purchasing an additional 109,000 shares during the period. Finally, Point72 Asset Management L.P. grew its holdings in CytomX Therapeutics by 739.4% during the third quarter. Point72 Asset Management L.P. now owns 1,327,740 shares of the biotechnology company’s stock valued at $24,563,000 after purchasing an additional 1,169,569 shares during the period. Hedge funds and other institutional investors own 78.53% of the company’s stock.

CytomX Therapeutics Company Profile

CytomX Therapeutics, Inc operates as an oncology-focused biopharmaceutical company in the United States. The company develops a novel class of investigational antibody therapeutics based on its Probody technology platform for the treatment of cancer. Its product candidates in clinical stage include CX-072, a Probody therapeutic targeting programmed cell death ligand 1 anti-cancer target; CX-2009, a Probody drug conjugate (PDC) against CD166 novel tumor antigen; BMS-986249, a CTLA-4 Probody therapeutic drug; CX-2029, a PDC targeting CD71; and CX-188, a Probody therapeutic targeting PD-1 anti-cancer target.

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