CytomX Therapeutics, Inc. $CTMX Shares Bought by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management increased its CytomX Therapeutics stake by 224.4% in the third quarter, acquiring 817,086 additional shares for a total of 1.18 million shares valued at approximately $3.2 million. Institutional investors collectively own 67.77% of the company.
• CytomX shares opened at $2.40, near their 12-month low of $2.20 and well below the 12-month high of $8.21. The company reported a quarterly loss of $0.09 per share and revenue of $1.42 million, missing analyst expectations on both measures.
• Analyst sentiment remains mixed but leans positive, with a consensus rating of “Moderate Buy” and an average price target of $11.90, despite recent downgrades from some research firms.

Assenagon Asset Management S.A. increased its stake in CytomX Therapeutics, Inc. (NASDAQ:CTMX - Free Report) by 224.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,181,259 shares of the biotechnology company's stock after purchasing an additional 817,086 shares during the quarter. Assenagon Asset Management S.A. owned about 0.54% of CytomX Therapeutics worth $3,213,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Engineers Gate Manager LP increased its stake in shares of CytomX Therapeutics by 182.0% during the second quarter. Engineers Gate Manager LP now owns 83,130 shares of the biotechnology company's stock valued at $312,000 after acquiring an additional 53,653 shares during the period. Integrated Wealth Concepts LLC acquired a new position in shares of CytomX Therapeutics during the 2nd quarter valued at $47,000. Pale Fire Capital SE bought a new stake in shares of CytomX Therapeutics in the 2nd quarter worth $86,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in CytomX Therapeutics by 16.0% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 219,779 shares of the biotechnology company's stock worth $824,000 after acquiring an additional 30,379 shares during the period. Finally, Hsbc Holdings PLC bought a new stake in CytomX Therapeutics in the second quarter worth about $103,000. Institutional investors own 67.77% of the company's stock.

CytomX Therapeutics Stock Down 4.4%

Shares of CytomX Therapeutics stock opened at $2.40 on Thursday. The stock has a market cap of $522.96 million, a PE ratio of -4.80 and a beta of 2.21. The business has a fifty day simple moving average of $2.98 and a 200-day simple moving average of $3.44. CytomX Therapeutics, Inc. has a 12 month low of $2.20 and a 12 month 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) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.01). The business had revenue of $1.42 million for the quarter, compared to analyst estimates of $12.39 million. CytomX Therapeutics had a negative net margin of 435.21% and a negative return on equity of 38.46%. Analysts expect that CytomX Therapeutics, Inc. will post -0.40 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Cantor Fitzgerald reiterated an "overweight" rating on shares of CytomX Therapeutics in a report on Tuesday, October 13th. Zacks Research lowered shares of CytomX Therapeutics from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 19th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of CytomX Therapeutics in a report on Friday, September 11th. Guggenheim dropped their price target on CytomX Therapeutics from $15.00 to $14.00 and set a "buy" rating on the stock in a report on Monday, August 10th. Finally, Wall Street Zen downgraded CytomX Therapeutics from a "hold" rating to a "sell" rating in a research report on Sunday, August 23rd. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, CytomX Therapeutics has an average rating of "Moderate Buy" and a consensus target price of $11.90.

CytomX Therapeutics Company Profile

CytomX Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing cancer medicines designed to be activated selectively within the tumor microenvironment. The company's approach is intended to improve the precision of treatment by limiting activity in healthy tissues while enabling therapeutic effects at tumor sites.

CytomX's research is based on its Probody therapeutic platform, which uses molecular masking and tumor-associated protease activity to conditionally activate antibody-based medicines.

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