Eversept Partners LP Buys 681,424 Shares of CytomX Therapeutics, Inc. $CTMX

Eversept Partners LP increased its stake in CytomX Therapeutics, Inc. (NASDAQ:CTMX) by 27.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,188,514 shares of the biotechnology company’s stock after purchasing an additional 681,424 shares during the period. CytomX Therapeutics makes up 0.8% of Eversept Partners LP’s holdings, making the stock its 27th biggest holding. Eversept Partners LP’s holdings in CytomX Therapeutics were worth $14,986,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Orbimed Advisors LLC bought a new stake in CytomX Therapeutics during the second quarter worth about $19,208,000. Commodore Capital LP bought a new position in CytomX Therapeutics in the 2nd quarter valued at about $17,462,000. Perceptive Advisors LLC bought a new position in CytomX Therapeutics in the 2nd quarter valued at about $15,876,000. State Street Corp raised its position in shares of 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 in the last quarter. Finally, Siren L.L.C. acquired a new position in shares of CytomX Therapeutics in the 1st quarter valued at approximately $16,251,000. Institutional investors and hedge funds own 67.77% of the company’s stock.

CytomX Therapeutics Price Performance

Shares of NASDAQ:CTMX opened at $3.25 on Tuesday. The company has a market cap of $553.12 million, a price-to-earnings ratio of -7.93 and a beta of 2.08. The firm has a 50 day simple moving average of $3.43 and a 200 day simple moving average of $4.34. CytomX Therapeutics, Inc. has a one year low of $1.72 and a one year high of $8.21.

CytomX Therapeutics (NASDAQ:CTMX) last posted its earnings results on Thursday, May 7th. The biotechnology company reported ($0.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.04. The firm had revenue of $10.26 million for the quarter, compared to analysts’ expectations of $4.68 million. CytomX Therapeutics had a negative net margin of 166.40% and a negative return on equity of 36.61%. As a group, analysts expect that CytomX Therapeutics, Inc. will post -0.45 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CTMX. Wolfe Research initiated coverage on shares of CytomX Therapeutics in a report on Tuesday, May 19th. They set an “outperform” rating and a $6.00 price target for the company. 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 cut their target price on CytomX Therapeutics from $17.00 to $11.00 and set a “buy” rating for the company in a research note on Monday, May 11th. Wall Street Zen raised CytomX Therapeutics from a “strong sell” rating to a “sell” rating in a report on Saturday, May 9th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of CytomX Therapeutics in a research note on Tuesday, June 16th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, CytomX Therapeutics has a consensus rating of “Buy” and an average 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.