Wellington Management Group LLP Purchases 1,585,976 Shares of CytomX Therapeutics, Inc. $CTMX

Wellington Management Group LLP raised its holdings in CytomX Therapeutics, Inc. (NASDAQ:CTMX) by 44.3% in the 2nd quarter, HoldingsChannel reports. The firm owned 5,168,961 shares of the biotechnology company’s stock after purchasing an additional 1,585,976 shares during the quarter. Wellington Management Group LLP’s holdings in CytomX Therapeutics were worth $19,384,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Goldman Sachs Group Inc. bought a new position in CytomX Therapeutics in the 1st quarter worth approximately $39,000. Woodline Partners LP acquired a new position in CytomX Therapeutics in the first quarter valued at about $1,054,000. Geode Capital Management LLC increased its stake in CytomX Therapeutics by 103.4% during the 2nd quarter. Geode Capital Management LLC now owns 1,745,176 shares of the biotechnology company’s stock worth $3,963,000 after purchasing an additional 887,218 shares in the last quarter. Invesco Ltd. bought a new stake in shares of CytomX Therapeutics during the second quarter worth $32,000. Finally, Marshall Wace LLP raised its stake in shares of CytomX Therapeutics by 2,650.9% in the 2nd quarter. Marshall Wace LLP now owns 2,353,122 shares of the biotechnology company’s stock valued at $5,342,000 after purchasing an additional 2,267,583 shares during the period. 67.77% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on CTMX shares. Wolfe Research started coverage on shares of CytomX Therapeutics in a report on Tuesday, May 19th. They issued an “outperform” rating and a $6.00 price objective on the stock. Zacks Research downgraded CytomX Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 19th. Weiss Ratings reiterated a “sell (d)” rating on shares of CytomX Therapeutics in a research note on Tuesday, June 16th. HC Wainwright decreased their price objective on CytomX Therapeutics from $17.00 to $11.00 and set a “buy” rating on the stock in a report on Monday, May 11th. Finally, Guggenheim lowered their target price on shares of CytomX Therapeutics from $15.00 to $14.00 and set a “buy” rating on the stock in a report on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.90.

CytomX Therapeutics Stock Performance

Shares of CTMX opened at $3.71 on Monday. The stock has a fifty day moving average of $3.49 and a 200-day moving average of $3.96. CytomX Therapeutics, Inc. has a 52 week low of $1.90 and a 52 week high of $8.21. The stock has a market capitalization of $808.41 million, a price-to-earnings ratio of -7.42 and a beta of 2.14.

CytomX Therapeutics (NASDAQ:CTMX) last posted its earnings results on Thursday, August 6th. The biotechnology company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.01). The business had revenue of $1.42 million for the quarter, compared to analyst estimates of $12.39 million. CytomX Therapeutics had a negative return on equity of 38.46% and a negative net margin of 435.21%. As a group, equities analysts forecast that CytomX Therapeutics, Inc. will post -0.4 EPS for the current year.

CytomX Therapeutics 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.