CytomX Therapeutics, Inc. $CTMX Shares Bought by Perceptive Advisors LLC

Key Points

• Perceptive Advisors increased its CytomX Therapeutics stake by 4.3%, purchasing 418,639 additional shares and bringing its holdings to 10.1 million shares, or 5.93% of the company. Institutional investors collectively own 67.77% of CTMX.
• Analyst sentiment is generally positive, with a consensus “Buy” rating and an average price target of $12.10, although individual ratings range from “Strong Buy” to “Sell.”
• CTMX opened at $3.10 after a reported 5.5% decline; the company recently beat quarterly EPS and revenue estimates but remains unprofitable, with a negative net margin of 166.4%.

Perceptive Advisors LLC grew its holdings in shares of CytomX Therapeutics, Inc. (NASDAQ:CTMX - Free Report) by 4.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,098,824 shares of the biotechnology company's stock after purchasing an additional 418,639 shares during the period. CytomX Therapeutics makes up approximately 0.9% of Perceptive Advisors LLC's investment portfolio, making the stock its 26th largest holding. Perceptive Advisors LLC owned 5.93% of CytomX Therapeutics worth $47,464,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of CTMX. Goldman Sachs Group Inc. acquired a new stake in CytomX Therapeutics in the first quarter worth about $39,000. Woodline Partners LP acquired a new position in shares of CytomX Therapeutics during the 1st quarter valued at $1,054,000. Geode Capital Management LLC grew its holdings in CytomX Therapeutics by 103.4% during the second quarter. Geode Capital Management LLC now owns 1,745,176 shares of the biotechnology company's stock worth $3,963,000 after acquiring an additional 887,218 shares during the period. Invesco Ltd. acquired a new position in shares of CytomX Therapeutics in the 2nd quarter worth approximately $32,000. Finally, Marshall Wace LLP grew its position in CytomX Therapeutics by 2,650.9% in the second quarter. Marshall Wace LLP now owns 2,353,122 shares of the biotechnology company's stock worth $5,342,000 after buying an additional 2,267,583 shares during the last quarter. 67.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CTMX. Weiss Ratings restated a "sell (d)" rating on shares of CytomX Therapeutics in a report on Tuesday, June 16th. Zacks Research upgraded CytomX Therapeutics from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 21st. 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. Wall Street Zen raised CytomX Therapeutics from a "strong sell" rating to a "sell" rating in a research note on Saturday, May 9th. Finally, HC Wainwright decreased their price objective on CytomX Therapeutics from $17.00 to $11.00 and set a "buy" rating for the company in a research report on Monday, May 11th. Two research 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. Based on data from MarketBeat, CytomX Therapeutics presently has a consensus rating of "Buy" and an average target price of $12.10.

CytomX Therapeutics Stock Down 5.5%

CTMX stock opened at $3.10 on Friday. CytomX Therapeutics, Inc. has a 12-month low of $1.72 and a 12-month high of $8.21. The company has a market cap of $527.59 million, a price-to-earnings ratio of -7.56 and a beta of 2.08. The company has a 50 day moving average of $3.39 and a two-hundred day moving average of $4.31.

CytomX Therapeutics (NASDAQ:CTMX - Get Free Report) last issued its earnings results on Thursday, May 7th. The biotechnology company reported ($0.10) earnings per share (EPS) for the quarter, beating 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 company had revenue of $10.26 million during the quarter, compared to analyst estimates of $4.68 million. On average, research analysts anticipate that CytomX Therapeutics, Inc. will post -0.45 EPS for the current 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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