Peak Financial Advisors LLC Acquires New Position in CytomX Therapeutics, Inc. $CTMX

Key Points

• Peak Financial Advisors acquired 462,061 shares of CytomX Therapeutics worth approximately $1.26 million, representing 0.21% of the company. Institutional investors collectively own 67.77% of CTMX.
• Analyst sentiment is mixed but leans positive: CTMX has a consensus rating of “Moderate Buy” and an average price target of $11.90, despite recent downgrades and a target cut from JPMorgan.
• CTMX shares opened at $2.34, near their 12-month low of $2.16. The company recently missed quarterly expectations, reporting a $0.09-per-share loss and $1.42 million in revenue versus the $12.39 million consensus estimate.

Peak Financial Advisors LLC acquired a new stake in CytomX Therapeutics, Inc. (NASDAQ:CTMX - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 462,061 shares of the biotechnology company's stock, valued at approximately $1,257,000. Peak Financial Advisors LLC owned 0.21% of CytomX Therapeutics at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in CytomX Therapeutics during the 2nd quarter worth $65,849,000. Bank of America Corp DE acquired a new position in shares of CytomX Therapeutics in the 2nd quarter valued at $56,560,000. Perceptive Advisors LLC boosted its position in shares of CytomX Therapeutics by 4.3% in the 1st quarter. Perceptive Advisors LLC now owns 10,098,824 shares of the biotechnology company's stock worth $47,464,000 after purchasing an additional 418,639 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of CytomX Therapeutics by 44.3% in the 2nd quarter. Wellington Management Group LLP now owns 5,168,961 shares of the biotechnology company's stock worth $19,384,000 after purchasing an additional 1,585,976 shares during the last quarter. Finally, Elmind Capital LP boosted its position in shares of CytomX Therapeutics by 550.0% in the 1st quarter. Elmind Capital LP now owns 4,550,000 shares of the biotechnology company's stock worth $21,385,000 after purchasing an additional 3,850,000 shares during the last quarter. 67.77% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CTMX. Wall Street Zen cut CytomX Therapeutics from a "hold" rating to a "sell" rating in a research note on Sunday, August 23rd. Zacks Research cut CytomX Therapeutics from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 19th. Weiss Ratings restated a "sell (d)" rating on shares of CytomX Therapeutics in a report on Friday, September 11th. JPMorgan Chase & Co. decreased their target price on CytomX Therapeutics from $12.00 to $11.00 and set an "overweight" rating for the company in a research report on Thursday, August 13th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating on shares of CytomX Therapeutics in a research note on Tuesday, October 13th. One equities 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 company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $11.90.

CytomX Therapeutics Price Performance

Shares of CTMX stock opened at $2.34 on Friday. CytomX Therapeutics, Inc. has a 12-month low of $2.16 and a 12-month high of $8.21. The firm has a fifty day moving average of $2.83 and a 200-day moving average of $3.87.

CytomX Therapeutics (NASDAQ:CTMX - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The biotechnology company reported ($0.09) EPS for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.01). The firm had revenue of $1.42 million during the quarter, compared to the consensus estimate of $12.39 million. CytomX Therapeutics had a negative net margin of 435.21% and a negative return on equity of 38.46%. Equities analysts predict that CytomX Therapeutics, Inc. will post -0.40 EPS for the current fiscal year.

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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