Equities analysts forecast that CytomX Therapeutics, Inc. (NASDAQ:CTMX) will report $4.95 million in sales for the current quarter, according to Zacks. Two analysts have provided estimates for CytomX Therapeutics’ earnings, with estimates ranging from $1.00 million to $8.90 million. CytomX Therapeutics posted sales of $3.09 million during the same quarter last year, which suggests a positive year over year growth rate of 60.2%. The firm is expected to announce its next quarterly earnings results on Wednesday, August 2nd.
On average, analysts expect that CytomX Therapeutics will report full year sales of $4.95 million for the current year, with estimates ranging from $15.00 million to $39.20 million. For the next financial year, analysts forecast that the firm will post sales of $72.30 million per share, with estimates ranging from $40.00 million to $104.60 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow CytomX Therapeutics.
CytomX Therapeutics (NASDAQ:CTMX) last announced its earnings results on Friday, May 5th. The biotechnology company reported ($0.23) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.55) by $0.32. CytomX Therapeutics had a negative net margin of 208.92% and a negative return on equity of 59.65%. The company had revenue of $11.65 million for the quarter, compared to the consensus estimate of $2.10 million.
Several brokerages have issued reports on CTMX. Jefferies Group LLC reiterated a “buy” rating and issued a $25.00 price target on shares of CytomX Therapeutics in a research note on Tuesday, June 6th. Zacks Investment Research upgraded shares of CytomX Therapeutics from a “hold” rating to a “buy” rating and set a $17.00 price target on the stock in a research note on Wednesday, May 3rd. Cowen and Company reiterated a “buy” rating on shares of CytomX Therapeutics in a research note on Wednesday, June 28th. ValuEngine lowered shares of CytomX Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday, May 11th. Finally, Cann reiterated a “hold” rating on shares of CytomX Therapeutics in a research note on Thursday, March 30th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $24.50.
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Shares of CytomX Therapeutics (NASDAQ:CTMX) traded up 0.791% during mid-day trading on Thursday, reaching $13.385. 295,537 shares of the company’s stock traded hands. The company’s 50 day moving average is $14.74 and its 200-day moving average is $14.27. The firm’s market cap is $491.89 million. CytomX Therapeutics has a 52 week low of $9.81 and a 52 week high of $20.02.
In other news, CFO Debanjan Ray sold 2,500 shares of the business’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $15.47, for a total transaction of $38,675.00. Following the transaction, the chief financial officer now directly owns 22,126 shares in the company, valued at approximately $342,289.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Robert I. Tepper sold 15,000 shares of the business’s stock in a transaction dated Thursday, June 29th. The stock was sold at an average price of $16.00, for a total transaction of $240,000.00. Following the transaction, the insider now owns 44,777 shares in the company, valued at $716,432. The disclosure for this sale can be found here. Insiders have sold a total of 36,843 shares of company stock worth $572,703 over the last 90 days. 4.70% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Highbridge Capital Management LLC purchased a new position in CytomX Therapeutics during the fourth quarter valued at $158,000. Hillsdale Investment Management Inc. purchased a new position in CytomX Therapeutics during the first quarter valued at $159,000. First Quadrant L P CA purchased a new position in CytomX Therapeutics during the second quarter valued at $160,000. Goldman Sachs Group Inc. purchased a new position in CytomX Therapeutics during the first quarter valued at $190,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in CytomX Therapeutics during the first quarter valued at $206,000. Institutional investors own 52.28% 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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