CytomX Therapeutics Inc (CTMX) Expected to Announce Earnings of -$0.40 Per Share

Equities analysts predict that CytomX Therapeutics Inc (NASDAQ:CTMX) will report ($0.40) earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for CytomX Therapeutics’ earnings, with the highest EPS estimate coming in at $0.00 and the lowest estimate coming in at ($0.67). CytomX Therapeutics posted earnings per share of ($0.28) during the same quarter last year, which would suggest a negative year-over-year growth rate of 42.9%. The company is expected to announce its next quarterly earnings report on Tuesday, November 6th.

According to Zacks, analysts expect that CytomX Therapeutics will report full-year earnings of ($1.50) per share for the current year, with EPS estimates ranging from ($2.14) to ($0.55). For the next year, analysts anticipate that the firm will report earnings of ($2.05) per share, with EPS estimates ranging from ($3.72) to ($0.94). Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that cover CytomX Therapeutics.

CytomX Therapeutics (NASDAQ:CTMX) last released its earnings results on Wednesday, August 8th. The biotechnology company reported ($0.35) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.34) by ($0.01). CytomX Therapeutics had a negative net margin of 44.46% and a negative return on equity of 74.84%. The company had revenue of $21.34 million during the quarter, compared to analysts’ expectations of $16.48 million.

A number of research firms have weighed in on CTMX. Zacks Investment Research cut CytomX Therapeutics from a “buy” rating to a “hold” rating in a research note on Monday. BidaskClub cut CytomX Therapeutics from a “hold” rating to a “sell” rating in a research note on Wednesday. Cowen restated a “buy” rating on shares of CytomX Therapeutics in a research note on Thursday, May 10th. Cantor Fitzgerald set a $40.00 price target on CytomX Therapeutics and gave the company a “buy” rating in a research note on Wednesday, May 9th. Finally, SunTrust Banks began coverage on CytomX Therapeutics in a research note on Friday, June 1st. They issued a “buy” rating and a $38.00 price target on the stock. One research analyst has rated the stock with a sell rating, two have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $38.38.

In other news, insider Sean A. Mccarthy sold 4,497 shares of CytomX Therapeutics stock in a transaction dated Thursday, July 5th. The stock was sold at an average price of $25.06, for a total transaction of $112,694.82. Following the sale, the insider now owns 86,560 shares in the company, valued at $2,169,193.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Debanjan Ray sold 3,000 shares of CytomX Therapeutics stock in a transaction dated Wednesday, August 1st. The stock was sold at an average price of $26.05, for a total value of $78,150.00. Following the sale, the chief financial officer now owns 8,638 shares in the company, valued at approximately $225,019.90. The disclosure for this sale can be found here. Insiders have sold 28,577 shares of company stock worth $692,875 in the last quarter. Insiders own 8.50% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. FMR LLC increased its position in shares of CytomX Therapeutics by 0.9% during the second quarter. FMR LLC now owns 5,843,626 shares of the biotechnology company’s stock worth $133,586,000 after purchasing an additional 51,953 shares in the last quarter. BlackRock Inc. grew its holdings in shares of CytomX Therapeutics by 28.5% during the second quarter. BlackRock Inc. now owns 3,226,401 shares of the biotechnology company’s stock worth $73,755,000 after buying an additional 716,096 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of CytomX Therapeutics by 46.8% during the second quarter. Renaissance Technologies LLC now owns 1,411,500 shares of the biotechnology company’s stock worth $32,267,000 after buying an additional 450,300 shares during the last quarter. Aquilo Capital Management LLC purchased a new position in shares of CytomX Therapeutics during the second quarter worth about $14,853,000. Finally, FIL Ltd grew its holdings in shares of CytomX Therapeutics by 36.5% during the first quarter. FIL Ltd now owns 429,925 shares of the biotechnology company’s stock worth $12,231,000 after buying an additional 114,962 shares during the last quarter. Institutional investors and hedge funds own 76.48% of the company’s stock.

CytomX Therapeutics stock opened at $22.63 on Monday. CytomX Therapeutics has a 1-year low of $13.51 and a 1-year high of $35.00. The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of -19.51 and a beta of 1.04.

CytomX Therapeutics Company Profile

CytomX Therapeutics, Inc operates as an oncology-focused biopharmaceutical company in the United States. The company develops a novel class of investigational antibody therapeutics based on its Probody technology platform for the treatment of cancer. Its product candidates in clinical stage include CX-072, a Probody therapeutic targeting programmed cell death ligand 1 anti-cancer target; CX-2009, a Probody drug conjugate (PDC) against CD166 novel tumor antigen; BMS-986249, a CTLA-4 Probody therapeutic drug; CX-2029, a PDC targeting CD71; and CX-188, a Probody therapeutic targeting PD-1 anti-cancer target.

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