684,539 Shares in CytomX Therapeutics, Inc. $CTMX Bought by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon acquired 684,539 shares of CytomX Therapeutics in the second quarter, worth approximately $2.57 million and representing about 0.40% of the company. Institutional investors collectively own 67.77% of CTMX.
• Analyst sentiment remains generally positive, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $11.90, despite several recent target and rating reductions.
• CytomX reported a quarterly loss of $0.09 per share, missing estimates by $0.01, while revenue of $1.42 million fell well below the $12.39 million consensus forecast.

Bank of New York Mellon Corp acquired a new position in CytomX Therapeutics, Inc. (NASDAQ:CTMX - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 684,539 shares of the biotechnology company's stock, valued at approximately $2,567,000. Bank of New York Mellon Corp owned approximately 0.40% of CytomX Therapeutics at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Wells Fargo & Company MN boosted its stake in CytomX Therapeutics by 83.2% in the fourth quarter. Wells Fargo & Company MN now owns 6,605 shares of the biotechnology company's stock worth $28,000 after buying an additional 3,000 shares in the last quarter. Lido Advisors LLC purchased a new position in shares of CytomX Therapeutics during the first quarter worth approximately $49,000. May Hill Capital LLC bought a new stake in shares of CytomX Therapeutics in the 4th quarter worth approximately $46,000. GABELLI & Co INVESTMENT ADVISERS INC. bought a new stake in shares of CytomX Therapeutics in the 1st quarter worth approximately $52,000. Finally, Hsbc Holdings PLC purchased a new stake in shares of CytomX Therapeutics in the 4th quarter valued at $52,000. 67.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Weiss Ratings reiterated a "sell (d)" rating on shares of CytomX Therapeutics in a report on Tuesday, June 16th. Wolfe Research initiated coverage on CytomX Therapeutics in a report on Tuesday, May 19th. They set an "outperform" rating and a $6.00 target price for the company. JPMorgan Chase & Co. lowered their price objective on CytomX Therapeutics from $12.00 to $11.00 and set an "overweight" rating for the company in a research report on Thursday, August 13th. HC Wainwright dropped their price objective on CytomX Therapeutics from $17.00 to $11.00 and set a "buy" rating for the company in a research note on Monday, May 11th. Finally, Zacks Research cut shares of CytomX Therapeutics from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 19th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $11.90.

CytomX Therapeutics Stock Performance

CytomX Therapeutics stock opened at $3.71 on Tuesday. CytomX Therapeutics, Inc. has a fifty-two week low of $1.90 and a fifty-two week high of $8.21. The stock's 50 day simple moving average is $3.49 and its two-hundred day simple moving average is $3.95. The stock has a market cap of $808.41 million, a price-to-earnings ratio of -7.42 and a beta of 2.14.

CytomX Therapeutics (NASDAQ:CTMX - Get Free Report) last announced its earnings results on Thursday, August 6th. The biotechnology company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.01). The firm had revenue of $1.42 million during the quarter, compared to the consensus estimate of $12.39 million. CytomX Therapeutics had a negative return on equity of 38.46% and a negative net margin of 435.21%. On average, analysts predict that CytomX Therapeutics, Inc. will post -0.4 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.

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