CytomX Therapeutics, Inc. (NASDAQ:CTMX) – Equities research analysts at Wedbush upped their FY2017 earnings estimates for shares of CytomX Therapeutics in a note issued to investors on Wednesday. Wedbush analyst R. Driscoll now expects that the biotechnology company will earn ($1.43) per share for the year, up from their previous forecast of ($1.51). Wedbush currently has a “Buy” rating and a $37.00 target price on the stock. Wedbush also issued estimates for CytomX Therapeutics’ Q4 2017 earnings at ($0.25) EPS, Q1 2018 earnings at ($0.22) EPS, Q2 2018 earnings at ($0.25) EPS, Q3 2018 earnings at ($0.28) EPS, FY2018 earnings at ($1.05) EPS, FY2019 earnings at ($1.56) EPS, FY2020 earnings at ($3.51) EPS and FY2021 earnings at ($2.34) EPS.
CTMX has been the topic of a number of other reports. Nomura increased their price target on shares of CytomX Therapeutics to $44.00 and gave the company a “buy” rating in a research report on Wednesday, October 4th. Zacks Investment Research upgraded shares of CytomX Therapeutics from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research report on Monday, October 16th. ValuEngine cut shares of CytomX Therapeutics from a “hold” rating to a “sell” rating in a research report on Friday, September 15th. Jefferies Group LLC set a $25.00 price target on shares of CytomX Therapeutics and gave the company a “buy” rating in a research report on Friday, August 25th. Finally, Bank of America Corporation increased their price target on shares of CytomX Therapeutics from $30.00 to $34.00 and gave the company a “buy” rating in a research report on Wednesday, October 4th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $31.88.
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CytomX Therapeutics (NASDAQ CTMX) opened at $19.75 on Friday. CytomX Therapeutics has a 52-week low of $10.03 and a 52-week high of $24.67.
A number of hedge funds have recently made changes to their positions in CTMX. Legal & General Group Plc lifted its stake in CytomX Therapeutics by 28.6% in the second quarter. Legal & General Group Plc now owns 6,448 shares of the biotechnology company’s stock worth $101,000 after acquiring an additional 1,434 shares during the period. Macquarie Group Ltd. purchased a new stake in CytomX Therapeutics in the third quarter worth $107,000. First Quadrant L P CA purchased a new stake in CytomX Therapeutics in the second quarter worth $160,000. Cubist Systematic Strategies LLC purchased a new stake in CytomX Therapeutics in the second quarter worth $174,000. Finally, Goldman Sachs Group Inc. purchased a new stake in CytomX Therapeutics in the first quarter worth $190,000. 60.02% of the stock is owned by institutional investors.
In other news, insider William Michael Kavanaugh sold 48,368 shares of the stock in a transaction that occurred on Wednesday, October 4th. The stock was sold at an average price of $24.34, for a total transaction of $1,177,277.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Robert I. Tepper sold 24,777 shares of the stock in a transaction that occurred on Wednesday, October 4th. The shares were sold at an average price of $24.34, for a total value of $603,072.18. The disclosure for this sale can be found here. In the last three months, insiders have sold 187,355 shares of company stock valued at $4,031,706. Insiders own 4.70% of the company’s stock.
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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