Analysts expect that CytomX Therapeutics Inc (NASDAQ:CTMX) will report $10.70 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for CytomX Therapeutics’ earnings. The lowest sales estimate is $600,000.00 and the highest is $16.50 million. CytomX Therapeutics reported sales of $6.27 million in the same quarter last year, which indicates a positive year over year growth rate of 70.7%. The business is scheduled to announce its next earnings results on Thursday, March 1st.
According to Zacks, analysts expect that CytomX Therapeutics will report full-year sales of $10.70 million for the current fiscal year, with estimates ranging from $45.20 million to $61.00 million. For the next financial year, analysts forecast that the firm will post sales of $79.53 million per share, with estimates ranging from $60.00 million to $104.60 million. Zacks’ sales averages are a mean average based on a survey of research analysts that follow CytomX Therapeutics.
CytomX Therapeutics (NASDAQ:CTMX) last announced its quarterly earnings data on Tuesday, November 7th. The biotechnology company reported ($0.28) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.14) by ($0.14). CytomX Therapeutics had a negative return on equity of 92.42% and a negative net margin of 113.64%.
A number of equities analysts have recently issued reports on CTMX shares. Citigroup started coverage on CytomX Therapeutics in a report on Friday, January 5th. They issued a “buy” rating and a $40.00 target price for the company. BidaskClub raised CytomX Therapeutics from a “hold” rating to a “buy” rating in a report on Friday, December 15th. ValuEngine cut CytomX Therapeutics from a “hold” rating to a “sell” rating in a report on Friday, December 1st. Zacks Investment Research cut CytomX Therapeutics from a “buy” rating to a “hold” rating in a report on Friday, November 10th. Finally, Cantor Fitzgerald started coverage on CytomX Therapeutics in a report on Monday, October 23rd. They issued an “overweight” rating and a $35.00 target price for the company. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $32.78.
Shares of CytomX Therapeutics (CTMX) opened at $25.55 on Friday. CytomX Therapeutics has a 52-week low of $11.11 and a 52-week high of $25.84. The company has a market capitalization of $985.18, a P/E ratio of -16.07 and a beta of 0.47.
In related news, CEO Sean A. Mccarthy sold 14,342 shares of the firm’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $19.86, for a total transaction of $284,832.12. Following the completion of the sale, the chief executive officer now directly owns 18,587 shares of the company’s stock, valued at approximately $369,137.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Sean A. Mccarthy sold 14,340 shares of the firm’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $20.60, for a total value of $295,404.00. The disclosure for this sale can be found here. Insiders have sold a total of 70,760 shares of company stock valued at $1,533,840 over the last ninety days. Insiders own 4.70% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. increased its holdings in CytomX Therapeutics by 1.3% during the 2nd quarter. Russell Investments Group Ltd. now owns 22,134 shares of the biotechnology company’s stock valued at $343,000 after purchasing an additional 292 shares in the last quarter. Legal & General Group Plc increased its holdings in CytomX Therapeutics by 28.6% during the 2nd quarter. Legal & General Group Plc now owns 6,448 shares of the biotechnology company’s stock valued at $101,000 after purchasing an additional 1,434 shares in the last quarter. Nationwide Fund Advisors increased its holdings in CytomX Therapeutics by 39.4% during the 2nd quarter. Nationwide Fund Advisors now owns 16,365 shares of the biotechnology company’s stock valued at $254,000 after purchasing an additional 4,622 shares in the last quarter. New York State Common Retirement Fund increased its holdings in CytomX Therapeutics by 18.6% during the 3rd quarter. New York State Common Retirement Fund now owns 36,900 shares of the biotechnology company’s stock valued at $670,000 after purchasing an additional 5,800 shares in the last quarter. Finally, Bank of Montreal Can acquired a new stake in CytomX Therapeutics during the 4th quarter valued at $124,000. 63.13% of the stock is owned by hedge funds and other institutional investors.
About CytomX Therapeutics
CytomX Therapeutics, Inc is a clinical-stage, oncology-focused biopharmaceutical company. The Company uses its Probody technology platform to create cancer immunotherapies against clinically validated targets, as well as to develop cancer therapeutics against difficult-to-drug targets. Its pipeline is focused on the development of therapies in a set of modalities: Probody cancer immunotherapies, Probody drug conjugates, T-cell engaging Probody bispecifics and ProCAR-NK cell therapies.
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