Inspire Investing LLC Purchases Shares of 522,482 CytomX Therapeutics, Inc. $CTMX

Inspire Investing LLC acquired a new position in CytomX Therapeutics, Inc. (NASDAQ:CTMX) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 522,482 shares of the biotechnology company’s stock, valued at approximately $1,667,000.

A number of other large investors have also recently made changes to their positions in the stock. Farther Finance Advisors LLC bought a new position in shares of CytomX Therapeutics during the 3rd quarter valued at approximately $25,000. Invesco Ltd. bought a new position in shares of CytomX Therapeutics in the second quarter worth approximately $32,000. Pursue Wealth Partners LLC bought a new position in shares of CytomX Therapeutics in the second quarter worth approximately $33,000. Goldman Sachs Group Inc. purchased a new stake in shares of CytomX Therapeutics in the first quarter worth $39,000. Finally, Velan Capital Investment Management LP raised its position in shares of CytomX Therapeutics by 114.3% during the 1st quarter. Velan Capital Investment Management LP now owns 75,000 shares of the biotechnology company’s stock valued at $48,000 after purchasing an additional 40,000 shares during the period. 67.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CTMX has been the subject of several recent analyst reports. Wall Street Zen downgraded shares of CytomX Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Cantor Fitzgerald started coverage on CytomX Therapeutics in a research note on Monday, September 22nd. They issued an “overweight” rating and a $6.00 price objective for the company. Weiss Ratings upgraded CytomX Therapeutics from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, October 8th. Wedbush reissued an “outperform” rating and issued a $6.00 price target on shares of CytomX Therapeutics in a report on Friday, November 7th. Finally, Barclays upped their price target on CytomX Therapeutics from $3.50 to $6.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 21st. Six investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $6.67.

CytomX Therapeutics Trading Up 5.6%

NASDAQ:CTMX opened at $4.44 on Friday. The business’s 50-day moving average is $3.89 and its 200 day moving average is $2.93. CytomX Therapeutics, Inc. has a 12 month low of $0.40 and a 12 month high of $4.62. The company has a market capitalization of $751.42 million, a P/E ratio of 11.09 and a beta of 2.37.

CytomX Therapeutics (NASDAQ:CTMX) last released its quarterly earnings results on Thursday, November 6th. The biotechnology company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.05). The firm had revenue of $5.96 million for the quarter, compared to analysts’ expectations of $11.50 million. CytomX Therapeutics had a net margin of 24.66% and a return on equity of 44.49%. On average, research analysts forecast that CytomX Therapeutics, Inc. will post -0.05 earnings per share for the current year.

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.