Cann reaffirmed their hold rating on shares of CytomX Therapeutics (NASDAQ:CTMX) in a research note issued to investors on Tuesday.

“Loss per share was $0.53, compared to our estimated EPS of $0.00. This was primarily the result of higher than expected operating expenses, which exceeded our estimate by 26.7%. R&D expense of $27.5 million was higher than our estimated $19.1 million. In addition, collaboration revenue was lower than expected due to a change in collaboration revenue recognition. A detailed, and promising, pipeline and regulatory update was provided and is included in this report.”,” Cann’s analyst commented.

Several other research firms have also commented on CTMX. ValuEngine lowered shares of CytomX Therapeutics from a strong-buy rating to a buy rating in a research note on Wednesday, August 29th. Zacks Investment Research upgraded shares of CytomX Therapeutics from a hold rating to a buy rating and set a $28.00 price objective for the company in a research note on Tuesday, July 10th. BidaskClub lowered shares of CytomX Therapeutics from a hold rating to a sell rating in a research note on Wednesday, August 15th. HC Wainwright set a $32.00 price objective on shares of CytomX Therapeutics and gave the company a buy rating in a research note on Tuesday, October 9th. Finally, Goldman Sachs Group started coverage on shares of CytomX Therapeutics in a research note on Monday, October 15th. They issued a neutral rating and a $21.00 price objective for the company. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $34.88.

Shares of CTMX traded down $1.35 on Tuesday, reaching $15.00. The company’s stock had a trading volume of 417,698 shares, compared to its average volume of 451,645. CytomX Therapeutics has a twelve month low of $12.75 and a twelve month high of $35.00. The firm has a market capitalization of $717.86 million, a PE ratio of -12.93 and a beta of 1.46.

CytomX Therapeutics (NASDAQ:CTMX) last posted its quarterly earnings data on Thursday, November 8th. The biotechnology company reported ($0.53) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.42) by ($0.11). The firm had revenue of $12.51 million during the quarter, compared to analysts’ expectations of $16.42 million. CytomX Therapeutics had a negative net margin of 68.90% and a negative return on equity of 65.03%. Sell-side analysts predict that CytomX Therapeutics will post -1.73 earnings per share for the current fiscal year.

In other news, insider Sean A. Mccarthy sold 13,052 shares of the stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $21.86, for a total transaction of $285,316.72. Following the completion of the transaction, the insider now directly owns 95,115 shares of the company’s stock, valued at approximately $2,079,213.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Debanjan Ray sold 3,000 shares of the stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $22.39, for a total transaction of $67,170.00. Following the transaction, the chief financial officer now directly owns 8,928 shares of the company’s stock, valued at $199,897.92. The disclosure for this sale can be found here. Insiders have sold a total of 28,578 shares of company stock valued at $550,757 over the last three months. Insiders own 8.50% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. State of Wisconsin Investment Board grew its position in shares of CytomX Therapeutics by 87.1% during the 2nd quarter. State of Wisconsin Investment Board now owns 39,300 shares of the biotechnology company’s stock valued at $898,000 after acquiring an additional 18,300 shares during the period. Vident Investment Advisory LLC grew its position in shares of CytomX Therapeutics by 26.2% during the 2nd quarter. Vident Investment Advisory LLC now owns 99,904 shares of the biotechnology company’s stock valued at $2,284,000 after acquiring an additional 20,761 shares during the period. Schwab Charles Investment Management Inc. grew its position in shares of CytomX Therapeutics by 18.9% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 235,926 shares of the biotechnology company’s stock valued at $5,394,000 after acquiring an additional 37,560 shares during the period. MetLife Investment Advisors LLC boosted its holdings in CytomX Therapeutics by 35.9% in the 2nd quarter. MetLife Investment Advisors LLC now owns 18,290 shares of the biotechnology company’s stock worth $418,000 after buying an additional 4,831 shares during the period. Finally, FMR LLC boosted its holdings in CytomX Therapeutics by 0.9% in the 2nd quarter. FMR LLC now owns 5,843,626 shares of the biotechnology company’s stock worth $133,586,000 after buying an additional 51,953 shares during the period. 71.53% of the stock is owned by hedge funds and other institutional investors.

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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Analyst Recommendations for CytomX Therapeutics (NASDAQ:CTMX)

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