Eversept Partners LP Has $14.99 Million Stock Holdings in CytomX Therapeutics, Inc. $CTMX

Key Points

• Eversept Partners increased its CytomX Therapeutics stake by 27.2% in the first quarter, owning 3.19 million shares valued at approximately $14.99 million, or 1.87% of CTMX.
• Institutional ownership remains high at 67.77%, with several hedge funds initiating or expanding positions, including State Street, which increased its stake by 697.1%.
• CytomX beat quarterly earnings and revenue estimates, while analysts maintain a consensus “Buy” rating and a $12.10 price target versus the stock’s reported $3.25 price.

Eversept Partners LP boosted its stake in shares of CytomX Therapeutics, Inc. (NASDAQ:CTMX - Free Report) by 27.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,188,514 shares of the biotechnology company's stock after purchasing an additional 681,424 shares during the quarter. CytomX Therapeutics comprises approximately 0.8% of Eversept Partners LP's investment portfolio, making the stock its 27th biggest position. Eversept Partners LP owned about 1.87% of CytomX Therapeutics worth $14,986,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of CTMX. Orbimed Advisors LLC bought a new position in shares of CytomX Therapeutics in the second quarter valued at about $19,208,000. Commodore Capital LP bought a new stake in shares of CytomX Therapeutics during the 2nd quarter worth about $17,462,000. Perceptive Advisors LLC bought a new stake in shares of CytomX Therapeutics during the 2nd quarter worth about $15,876,000. State Street Corp grew its stake in CytomX Therapeutics by 697.1% in the 4th quarter. State Street Corp now owns 5,140,931 shares of the biotechnology company's stock valued at $21,900,000 after buying an additional 4,495,949 shares during the last quarter. Finally, ADAR1 Capital Management LLC grew its stake in CytomX Therapeutics by 31.3% in the 3rd quarter. ADAR1 Capital Management LLC now owns 4,045,414 shares of the biotechnology company's stock valued at $12,905,000 after buying an additional 964,000 shares during the last quarter. 67.77% of the stock is currently owned by institutional investors and hedge funds.

CytomX Therapeutics Stock Performance

NASDAQ:CTMX 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 firm has a market cap of $553.12 million, a price-to-earnings ratio of -7.93 and a beta of 2.08. The firm's 50-day simple moving average is $3.43 and its 200 day simple moving average is $4.34.

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

Wall Street Analysts Forecast Growth

CTMX has been the subject of several research reports. Zacks Research upgraded shares of CytomX Therapeutics from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 21st. HC Wainwright decreased their target price on CytomX Therapeutics from $17.00 to $11.00 and set a "buy" rating on the stock in a research report on Monday, May 11th. Wolfe Research began coverage on CytomX Therapeutics in a research note 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, Wall Street Zen upgraded CytomX Therapeutics from a "strong sell" rating to a "sell" rating in a research note on Saturday, May 9th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $12.10.

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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