First Trust Advisors LP Boosts Stake in CytomX Therapeutics, Inc. $CTMX

First Trust Advisors LP increased its position in CytomX Therapeutics, Inc. (NASDAQ:CTMX) by 34.4% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 568,562 shares of the biotechnology company’s stock after purchasing an additional 145,394 shares during the quarter. First Trust Advisors LP owned approximately 0.33% of CytomX Therapeutics worth $2,672,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Wells Fargo & Company MN grew 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 worth $28,000 after purchasing an additional 3,000 shares during the period. Invesco Ltd. purchased a new position in CytomX Therapeutics during the second quarter valued at $32,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in CytomX Therapeutics during the fourth quarter valued at $35,000. Goldman Sachs Group Inc. bought a new stake in shares of CytomX Therapeutics during the 1st quarter valued at $39,000. Finally, May Hill Capital LLC bought a new stake in shares of CytomX Therapeutics during the 4th quarter valued at $46,000. 67.77% of the stock is currently owned by institutional investors.

CytomX Therapeutics Trading Up 2.7%

NASDAQ CTMX opened at $3.46 on Friday. CytomX Therapeutics, Inc. has a 12 month low of $1.72 and a 12 month high of $8.21. The stock’s fifty day moving average price is $3.35 and its 200-day moving average price is $4.27. The stock has a market cap of $588.86 million, a P/E ratio of -6.92 and a beta of 2.12.

CytomX Therapeutics (NASDAQ:CTMX) last posted its quarterly earnings results on Thursday, August 6th. The biotechnology company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.01). The company had revenue of $1.42 million during the quarter, compared to analysts’ expectations of $12.39 million. CytomX Therapeutics had a negative return on equity of 45.40% and a negative net margin of 435.21%. As a group, analysts forecast that CytomX Therapeutics, Inc. will post -0.45 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Wall Street Zen raised shares of CytomX Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 9th. Weiss Ratings reissued a “sell (d)” rating on shares of CytomX Therapeutics in a research report on Tuesday, June 16th. Zacks Research raised shares of CytomX Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 21st. HC Wainwright cut their price objective on shares of CytomX Therapeutics from $17.00 to $11.00 and set a “buy” rating on the stock in a report on Monday, May 11th. Finally, Wolfe Research assumed coverage on shares of CytomX Therapeutics in a research note on Tuesday, May 19th. They set an “outperform” rating and a $6.00 target price for the company. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price 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.