CytomX Therapeutics, Inc. $CTMX Stake Lifted by Elmind Capital LP

Key Points

• Elmind Capital increased its CytomX Therapeutics stake by 550% in the first quarter, holding 4.55 million shares worth approximately $21.4 million, or 2.67% of the company. Institutional investors collectively own 67.77% of CTMX.
• CytomX reported quarterly revenue of $10.26 million and an adjusted loss of $0.10 per share, beating analyst estimates of $4.68 million and a $0.14 loss, respectively. The stock opened at $3.25, well below its 52-week high of $8.21.
• Analyst sentiment remains broadly positive, with a consensus “Buy” rating and a $12.10 price target, although ratings range from “Strong Buy” to “Sell.” Wolfe Research initiated coverage with an “Outperform” rating and a $6 target.

Elmind Capital LP lifted its holdings in shares of CytomX Therapeutics, Inc. (NASDAQ:CTMX - Free Report) by 550.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,550,000 shares of the biotechnology company's stock after acquiring an additional 3,850,000 shares during the period. CytomX Therapeutics accounts for approximately 6.1% of Elmind Capital LP's investment portfolio, making the stock its 4th biggest holding. Elmind Capital LP owned approximately 2.67% of CytomX Therapeutics worth $21,385,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Eversept Partners LP raised its holdings in CytomX Therapeutics by 27.2% during the first quarter. Eversept Partners LP now owns 3,188,514 shares of the biotechnology company's stock worth $14,986,000 after purchasing an additional 681,424 shares in the last quarter. Gabelli Funds LLC acquired a new position in shares of CytomX Therapeutics in the 1st quarter valued at $155,000. GABELLI & Co INVESTMENT ADVISERS INC. acquired a new position in shares of CytomX Therapeutics in the 1st quarter valued at $52,000. Siren L.L.C. purchased a new position in shares of CytomX Therapeutics in the 1st quarter valued at $16,251,000. Finally, Sei Investments Co. grew its position in shares of CytomX Therapeutics by 100.0% in the 1st quarter. Sei Investments Co. now owns 248,248 shares of the biotechnology company's stock valued at $1,167,000 after buying an additional 124,124 shares during the last quarter. Hedge funds and other institutional investors own 67.77% of the company's stock.

CytomX Therapeutics Stock Up 0.3%

Shares of CytomX Therapeutics stock opened at $3.25 on Tuesday. CytomX Therapeutics, Inc. has a 52-week low of $1.72 and a 52-week high of $8.21. The company's 50-day simple moving average is $3.43 and its 200-day simple moving average is $4.34. The firm has a market cap of $553.12 million, a price-to-earnings ratio of -7.93 and a beta of 2.08.

CytomX Therapeutics (NASDAQ:CTMX - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The biotechnology company reported ($0.10) 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 firm had revenue of $10.26 million during the quarter, compared to the consensus estimate of $4.68 million. Equities research analysts anticipate that CytomX Therapeutics, Inc. will post -0.45 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Zacks Research raised shares of CytomX Therapeutics from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 21st. Wall Street Zen raised CytomX Therapeutics from a "strong sell" rating to a "sell" rating in a report on Saturday, May 9th. Wolfe Research initiated coverage on CytomX Therapeutics in a research report on Tuesday, May 19th. They set an "outperform" rating and a $6.00 target price on the stock. Weiss Ratings reissued a "sell (d)" rating on shares of CytomX Therapeutics in a report on Tuesday, June 16th. Finally, HC Wainwright decreased their target price 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 equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $12.10.

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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