ADAR1 Capital Management LLC Buys New Shares in CytomX Therapeutics, Inc. $CTMX

Key Points

• ADAR1 Capital Management acquired 3.37 million CytomX Therapeutics shares worth approximately $12.6 million, giving it a 1.54% stake. Institutional investors and hedge funds collectively own 67.77% of the company.
• Analysts maintain a generally positive view, with a consensus rating of “Moderate Buy” and an average price target of $11.90, despite several recent target reductions and one downgrade to “sell.”
• CytomX reported a quarterly loss of $0.09 per share, slightly worse than expectations, while revenue of $1.42 million fell well below the $12.39 million analyst estimate. Shares opened at $3.37, near the lower end of their 52-week range.

ADAR1 Capital Management LLC bought a new position in shares of CytomX Therapeutics, Inc. (NASDAQ:CTMX - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,365,118 shares of the biotechnology company's stock, valued at approximately $12,619,000. ADAR1 Capital Management LLC owned 1.54% of CytomX Therapeutics at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in shares of CytomX Therapeutics in the 2nd quarter valued at $65,849,000. Bank of America Corp DE raised its position in shares of CytomX Therapeutics by 1,064.3% in the 1st quarter. Bank of America Corp DE now owns 10,202,785 shares of the biotechnology company's stock worth $47,953,000 after buying an additional 9,326,480 shares during the period. Perceptive Advisors LLC raised its position in shares of CytomX Therapeutics by 4.3% in the 1st quarter. Perceptive Advisors LLC now owns 10,098,824 shares of the biotechnology company's stock worth $47,464,000 after buying an additional 418,639 shares during the period. Orbimed Advisors LLC acquired a new position in CytomX Therapeutics in the second quarter valued at $19,208,000. Finally, Commodore Capital LP acquired a new position in CytomX Therapeutics in the second quarter valued at $17,462,000. 67.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CTMX has been the subject of a number of research analyst reports. JPMorgan Chase & Co. dropped their target price on shares of CytomX Therapeutics from $12.00 to $11.00 and set an "overweight" rating for the company in a research report on Thursday, August 13th. Zacks Research cut shares of CytomX Therapeutics from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 19th. Guggenheim decreased their price objective on shares of CytomX Therapeutics from $15.00 to $14.00 and set a "buy" rating for the company in a research note on Monday, August 10th. Wall Street Zen downgraded shares of CytomX Therapeutics from a "hold" rating to a "sell" rating in a research note on Sunday. Finally, Wolfe Research assumed coverage on shares of CytomX Therapeutics in a research report on Tuesday, May 19th. They set an "outperform" rating and a $6.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $11.90.

CytomX Therapeutics Price Performance

Shares of CytomX Therapeutics stock opened at $3.37 on Wednesday. CytomX Therapeutics, Inc. has a 1-year low of $1.90 and a 1-year high of $8.21. The company has a market capitalization of $734.32 million, a PE ratio of -6.74 and a beta of 2.12. The business has a 50-day moving average of $3.43 and a 200-day moving average of $4.07.

CytomX Therapeutics (NASDAQ:CTMX - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The biotechnology company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.01). The business had revenue of $1.42 million during the quarter, compared to analyst estimates 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, equities analysts expect that CytomX Therapeutics, Inc. will post -0.4 earnings per share for the current fiscal 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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