Ally Bridge Group NY LLC Makes New $4.23 Million Investment in CytomX Therapeutics, Inc. $CTMX

Ally Bridge Group NY LLC bought a new position in shares of CytomX Therapeutics, Inc. (NASDAQ:CTMX - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 900,000 shares of the biotechnology company's stock, valued at approximately $4,230,000. CytomX Therapeutics makes up approximately 3.4% of Ally Bridge Group NY LLC's portfolio, making the stock its 12th biggest position. Ally Bridge Group NY LLC owned 0.53% of CytomX Therapeutics as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Orbimed Advisors LLC purchased a new position in CytomX Therapeutics during the second quarter worth approximately $19,208,000. Commodore Capital LP acquired a new stake in CytomX Therapeutics in the 2nd quarter valued at $17,462,000. Perceptive Advisors LLC acquired a new stake in CytomX Therapeutics in the 2nd quarter valued at $15,876,000. State Street Corp increased its holdings in CytomX Therapeutics by 697.1% in the 4th quarter. State Street Corp now owns 5,140,931 shares of the biotechnology company's stock worth $21,900,000 after acquiring an additional 4,495,949 shares in the last quarter. Finally, Elmind Capital LP increased its holdings in CytomX Therapeutics by 550.0% in the 1st quarter. Elmind Capital LP now owns 4,550,000 shares of the biotechnology company's stock worth $21,385,000 after acquiring an additional 3,850,000 shares in the last quarter. 67.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have weighed in on CTMX shares. Wolfe Research initiated coverage on shares of CytomX Therapeutics in a research report on Tuesday, May 19th. They set an "outperform" rating and a $6.00 price objective for the company. Zacks Research upgraded shares of CytomX Therapeutics from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 21st. HC Wainwright cut their target price on shares of CytomX Therapeutics from $17.00 to $11.00 and set a "buy" rating for the company in a research note on Monday, May 11th. Weiss Ratings restated a "sell (d)" rating on shares of CytomX Therapeutics in a research report on Tuesday, June 16th. Finally, Wall Street Zen raised shares of CytomX Therapeutics from a "strong sell" rating to a "sell" rating in a research note on Saturday, May 9th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $12.10.

CytomX Therapeutics Stock Down 0.9%

Shares of NASDAQ CTMX opened at $3.22 on Wednesday. The firm has a 50-day simple moving average of $3.42 and a 200-day simple moving average of $4.33. The stock has a market capitalization of $548.01 million, a price-to-earnings ratio of -7.85 and a beta of 2.08. CytomX Therapeutics, Inc. has a 52 week low of $1.72 and a 52 week high of $8.21.

CytomX Therapeutics (NASDAQ:CTMX - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The biotechnology company reported ($0.10) earnings per share for the quarter, topping analysts' consensus estimates of ($0.14) by $0.04. CytomX Therapeutics had a negative net margin of 166.40% and a negative return on equity of 36.61%. The firm had revenue of $10.26 million for the quarter, compared to analyst estimates of $4.68 million. As a group, equities research analysts expect that CytomX Therapeutics, Inc. will post -0.45 EPS for the current year.

About CytomX Therapeutics

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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