BlackRock Inc. acquired a new stake in CytomX Therapeutics, Inc. (NASDAQ:CTMX - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 17,559,822 shares of the biotechnology company's stock, valued at approximately $65,849,000. BlackRock Inc. owned about 10.32% of CytomX Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CTMX. Wells Fargo & Company MN lifted its holdings in shares of CytomX Therapeutics by 83.2% in the 4th quarter. Wells Fargo & Company MN now owns 6,605 shares of the biotechnology company's stock worth $28,000 after acquiring an additional 3,000 shares during the last quarter. Invesco Ltd. acquired a new stake in CytomX Therapeutics in the 2nd quarter valued at approximately $32,000. Goldman Sachs Group Inc. purchased a new stake in CytomX Therapeutics in the first quarter valued at approximately $39,000. May Hill Capital LLC purchased a new stake in CytomX Therapeutics in the fourth quarter valued at approximately $46,000. Finally, Lido Advisors LLC acquired a new position in CytomX Therapeutics during the first quarter worth $49,000. Institutional investors and hedge funds own 67.77% of the company's stock.
CytomX Therapeutics Price Performance
Shares of CytomX Therapeutics stock opened at $3.21 on Monday. CytomX Therapeutics, Inc. has a 52 week low of $1.90 and a 52 week high of $8.21. The firm's 50 day moving average is $3.45 and its two-hundred day moving average is $4.02. The firm has a market capitalization of $699.46 million, a P/E ratio of -6.42 and a beta of 2.12.
CytomX Therapeutics (NASDAQ:CTMX - Get Free Report) last posted its earnings results on Thursday, August 6th. The biotechnology company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.01). CytomX Therapeutics had a negative net margin of 435.21% and a negative return on equity of 38.46%. The firm had revenue of $1.42 million during the quarter, compared to analysts' expectations of $12.39 million. As a group, research analysts expect that CytomX Therapeutics, Inc. will post -0.4 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
A number of brokerages recently weighed in on CTMX. Wall Street Zen cut shares of CytomX Therapeutics from a "hold" rating to a "sell" rating in a report on Sunday, August 23rd. Weiss Ratings reiterated a "sell (d)" rating on shares of CytomX Therapeutics in a report on Tuesday, June 16th. HC Wainwright decreased their price target on shares of CytomX Therapeutics from $17.00 to $11.00 and set a "buy" rating for the company in a research report on Monday, May 11th. Wolfe Research began coverage on shares of CytomX Therapeutics in a research note on Tuesday, May 19th. They issued an "outperform" rating and a $6.00 price target for the company. Finally, Guggenheim cut their price objective on CytomX Therapeutics from $15.00 to $14.00 and set a "buy" rating on the stock in a research report on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, CytomX Therapeutics has an average rating of "Moderate Buy" and an average price target of $11.90.
Check Out Our Latest Stock Analysis on CytomX Therapeutics
CytomX Therapeutics Company Profile
(
Free Report)
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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