CytomX Therapeutics (NASDAQ:CTMX) Announces Quarterly Earnings Results, Misses Expectations By $0.14 EPS

CytomX Therapeutics (NASDAQ:CTMX) posted its earnings results on Monday. The biotechnology company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.14), FiscalAI reports. The company had revenue of $0.66 million during the quarter, compared to the consensus estimate of $7.33 million. CytomX Therapeutics had a return on equity of 44.49% and a net margin of 24.66%.

CytomX Therapeutics Price Performance

CytomX Therapeutics stock opened at $4.68 on Monday. CytomX Therapeutics has a 1 year low of $0.40 and a 1 year high of $6.35. The company has a market capitalization of $792.93 million, a P/E ratio of 11.70 and a beta of 2.44. The business has a 50 day moving average of $5.19 and a 200-day moving average of $4.04.

Analysts Set New Price Targets

A number of research firms recently issued reports on CTMX. Guggenheim reiterated a “buy” rating and set a $10.00 price objective on shares of CytomX Therapeutics in a research report on Monday, March 9th. Piper Sandler raised their target price on shares of CytomX Therapeutics from $6.50 to $10.00 and gave the company an “overweight” rating in a research report on Tuesday, January 20th. Barclays boosted their target price on shares of CytomX Therapeutics from $8.00 to $10.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 4th. Finally, Cantor Fitzgerald increased their price target on CytomX Therapeutics from $6.00 to $10.00 and gave the company an “overweight” rating in a research note on Wednesday, February 4th. Seven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, CytomX Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $9.00.

Institutional Investors Weigh In On CytomX Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in CTMX. Squarepoint Ops LLC raised its holdings in CytomX Therapeutics by 4.5% during the 4th quarter. Squarepoint Ops LLC now owns 49,897 shares of the biotechnology company’s stock worth $213,000 after purchasing an additional 2,169 shares during the last quarter. Wells Fargo & Company MN increased its stake in CytomX Therapeutics by 83.2% in the fourth quarter. Wells Fargo & Company MN now owns 6,605 shares of the biotechnology company’s stock valued at $28,000 after purchasing an additional 3,000 shares in the last quarter. Velan Capital Investment Management LP raised its holdings in shares of CytomX Therapeutics by 6.7% during the third quarter. Velan Capital Investment Management LP now owns 80,000 shares of the biotechnology company’s stock valued at $255,000 after purchasing an additional 5,000 shares during the period. Raymond James Financial Inc. boosted its position in shares of CytomX Therapeutics by 3.5% during the 3rd quarter. Raymond James Financial Inc. now owns 293,560 shares of the biotechnology company’s stock worth $936,000 after purchasing an additional 10,000 shares in the last quarter. Finally, Truvestments Capital LLC boosted its position in shares of CytomX Therapeutics by 60.4% during the 4th quarter. Truvestments Capital LLC now owns 27,428 shares of the biotechnology company’s stock worth $117,000 after purchasing an additional 10,327 shares in the last quarter. Institutional investors and hedge funds own 67.77% of the company’s stock.

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.