Zacks: Analysts Anticipate CytomX Therapeutics, Inc. (NASDAQ:CTMX) Will Announce Quarterly Sales of $18.39 Million

Wall Street brokerages expect that CytomX Therapeutics, Inc. (NASDAQ:CTMX) will report $18.39 million in sales for the current quarter, Zacks reports. Four analysts have issued estimates for CytomX Therapeutics’ earnings. The lowest sales estimate is $16.00 million and the highest is $20.00 million. CytomX Therapeutics reported sales of $16.61 million in the same quarter last year, which indicates a positive year over year growth rate of 10.7%. The business is expected to report its next earnings report on Thursday, August 5th.

According to Zacks, analysts expect that CytomX Therapeutics will report full year sales of $85.55 million for the current year, with estimates ranging from $72.12 million to $118.70 million. For the next financial year, analysts forecast that the business will post sales of $84.56 million, with estimates ranging from $74.00 million to $104.80 million. Zacks’ sales averages are an average based on a survey of analysts that follow CytomX Therapeutics.

CytomX Therapeutics (NASDAQ:CTMX) last posted its quarterly earnings data on Thursday, May 6th. The biotechnology company reported ($0.26) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.29) by $0.03. CytomX Therapeutics had a negative net margin of 58.13% and a negative return on equity of 94.20%.

A number of research firms have recently commented on CTMX. JPMorgan Chase & Co. began coverage on CytomX Therapeutics in a report on Monday, March 29th. They set an “overweight” rating and a $14.00 price objective for the company. Jefferies Financial Group upgraded CytomX Therapeutics from a “hold” rating to a “buy” rating in a report on Monday, March 29th. Finally, Zacks Investment Research cut shares of CytomX Therapeutics from a “buy” rating to a “hold” rating in a research report on Friday, May 7th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $11.94.

CTMX stock traded up $0.32 on Friday, hitting $8.23. 1,601,355 shares of the company were exchanged, compared to its average volume of 1,066,297. The stock has a market capitalization of $535.04 million, a price-to-earnings ratio of -6.92 and a beta of 0.74. CytomX Therapeutics has a twelve month low of $6.25 and a twelve month high of $11.29. The business’s fifty day moving average is $8.21 and its two-hundred day moving average is $7.77.

In related news, CEO Sean A. Mccarthy sold 100,000 shares of the company’s stock in a transaction on Wednesday, March 31st. The shares were sold at an average price of $7.49, for a total value of $749,000.00. Following the sale, the chief executive officer now directly owns 306,894 shares of the company’s stock, valued at $2,298,636.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.80% of the stock is currently owned by company insiders.

Institutional investors have recently made changes to their positions in the stock. First Trust Advisors LP bought a new position in CytomX Therapeutics during the first quarter worth $263,000. Virtu Financial LLC bought a new stake in shares of CytomX Therapeutics in the 3rd quarter worth approximately $87,000. Strs Ohio grew its stake in CytomX Therapeutics by 37.6% during the 3rd quarter. Strs Ohio now owns 77,200 shares of the biotechnology company’s stock worth $513,000 after buying an additional 21,100 shares during the last quarter. XTX Markets LLC acquired a new stake in CytomX Therapeutics in the fourth quarter worth $93,000. Finally, Assenagon Asset Management S.A. lifted its stake in CytomX Therapeutics by 26.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 218,763 shares of the biotechnology company’s stock valued at $1,433,000 after buying an additional 45,887 shares during the last quarter. 77.87% of the stock is owned by hedge funds and other institutional investors.

About CytomX Therapeutics

CytomX Therapeutics, Inc operates as an oncology-focused biopharmaceutical company in the United States. The company develops antibody therapeutics based on its Probody technology platform for the treatment of cancer. The company's product candidates include CX-2009, an antibody drug conjugates (ADC) against CD166, which is in Phase II clinical trials for the treatment of breast cancer; CX-2029 that is in Phase II clinical trials for the treatment of squamous non-small cell lung cancer, head and neck squamous cell carcinoma, esophageal and gastro-esophageal junction cancers, and diffuse large B-cell lymphoma; BMS-986249, a CTLA-4 Probody therapeutic drug, which is in Phase I/II clinical trials for the treatment of metastatic melanoma; and BMS-986288, an anti-CTLA-4 Probody drug, which is in Phase I clinical trials for the treatment of solid tumors.

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