Bank of America Corp DE Has $47.95 Million Position in CytomX Therapeutics, Inc. $CTMX

Key Points

• Bank of America increased its CytomX Therapeutics stake by 1,064.3% in the first quarter, owning 10.2 million shares worth approximately $47.95 million, or 5.99% of the company. Institutional investors collectively hold 67.77% of CTMX.
• Analyst sentiment is generally positive, with an average “Buy” rating and a consensus price target of $12.00, although individual ratings range from “Strong Buy” to “Sell.”
• CytomX reported a quarterly loss of $0.09 per share and revenue of $1.42 million, missing analyst estimates of $0.08 per-share loss and $12.39 million in revenue. The stock opened at $3.49 and remains well below its 52-week high of $8.21.

Bank of America Corp DE boosted its position in CytomX Therapeutics, Inc. (NASDAQ:CTMX - Free Report) by 1,064.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,202,785 shares of the biotechnology company's stock after purchasing an additional 9,326,480 shares during the quarter. Bank of America Corp DE owned about 5.99% of CytomX Therapeutics worth $47,953,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Wells Fargo & Company MN lifted its holdings in shares of CytomX Therapeutics by 83.2% during 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. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of CytomX Therapeutics in the fourth quarter valued at about $35,000. Lido Advisors LLC acquired a new position in shares of CytomX Therapeutics in the first quarter valued at about $49,000. May Hill Capital LLC bought a new position in CytomX Therapeutics during the fourth quarter worth about $46,000. Finally, GABELLI & Co INVESTMENT ADVISERS INC. bought a new position in CytomX Therapeutics during the first quarter worth about $52,000. Institutional investors own 67.77% of the company's stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Zacks Research raised shares of CytomX Therapeutics from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 21st. Wall Street Zen raised shares of CytomX Therapeutics from a "strong sell" rating to a "sell" rating in a report on Saturday, May 9th. Weiss Ratings reiterated a "sell (d)" rating on shares of CytomX Therapeutics in a research note on Tuesday, June 16th. Wolfe Research initiated coverage on CytomX Therapeutics in a research report on Tuesday, May 19th. They set an "outperform" rating and a $6.00 price target on the stock. Finally, Guggenheim dropped their price objective on CytomX Therapeutics from $15.00 to $14.00 and set a "buy" rating for the company in a report on Monday. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, CytomX Therapeutics has an average rating of "Buy" and a consensus target price of $12.00.

CytomX Therapeutics Price Performance

NASDAQ CTMX opened at $3.49 on Thursday. The business has a fifty day moving average price of $3.36 and a two-hundred day moving average price of $4.22. The stock has a market capitalization of $593.96 million, a PE ratio of -6.98 and a beta of 2.12. CytomX Therapeutics, Inc. has a fifty-two week low of $1.72 and a fifty-two week high of $8.21.

CytomX Therapeutics (NASDAQ:CTMX - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The biotechnology company reported ($0.09) EPS for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.01). CytomX Therapeutics had a negative return on equity of 38.46% and a negative net margin of 435.21%.The business had revenue of $1.42 million for the quarter, compared to analyst estimates of $12.39 million. As a group, sell-side analysts expect that CytomX Therapeutics, Inc. will post -0.4 earnings per share 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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