Research Analysts Set Expectations for CTMX FY2024 Earnings

CytomX Therapeutics, Inc. (NASDAQ:CTMX) – Analysts at HC Wainwright raised their FY2024 earnings estimates for shares of CytomX Therapeutics in a report issued on Monday, November 11th. HC Wainwright analyst M. Kapoor now expects that the biotechnology company will post earnings per share of $0.14 for the year, up from their previous estimate of ($0.11). HC Wainwright currently has a “Neutral” rating on the stock. The consensus estimate for CytomX Therapeutics’ current full-year earnings is ($0.29) per share. HC Wainwright also issued estimates for CytomX Therapeutics’ Q4 2024 earnings at ($0.01) EPS, Q1 2025 earnings at ($0.02) EPS, Q2 2025 earnings at ($0.03) EPS, Q3 2025 earnings at ($0.03) EPS, Q4 2025 earnings at ($0.04) EPS and FY2025 earnings at ($0.12) EPS.

CytomX Therapeutics Price Performance

Shares of CytomX Therapeutics stock opened at $1.04 on Wednesday. CytomX Therapeutics has a 12-month low of $0.98 and a 12-month high of $5.85. The firm has a market capitalization of $81.24 million, a PE ratio of 6.12 and a beta of 1.06. The stock’s fifty day moving average is $1.14 and its 200-day moving average is $1.47.

CytomX Therapeutics (NASDAQ:CTMX) last posted its quarterly earnings results on Thursday, November 7th. The biotechnology company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.23. CytomX Therapeutics had a net margin of 10.96% and a negative return on equity of 37.72%. The firm had revenue of $33.43 million for the quarter, compared to analyst estimates of $18.92 million. During the same quarter in the previous year, the business posted $0.04 earnings per share.

Institutional Trading of CytomX Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Acadian Asset Management LLC increased its position in shares of CytomX Therapeutics by 1.4% in the second quarter. Acadian Asset Management LLC now owns 2,728,569 shares of the biotechnology company’s stock worth $3,324,000 after acquiring an additional 37,739 shares in the last quarter. Assenagon Asset Management S.A. grew its position in CytomX Therapeutics by 32.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,644,168 shares of the biotechnology company’s stock worth $1,940,000 after purchasing an additional 405,669 shares in the last quarter. Congress Park Capital LLC lifted its holdings in shares of CytomX Therapeutics by 5.4% in the third quarter. Congress Park Capital LLC now owns 1,216,008 shares of the biotechnology company’s stock valued at $1,435,000 after purchasing an additional 62,788 shares in the last quarter. Sei Investments Co. acquired a new stake in shares of CytomX Therapeutics in the second quarter worth $467,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of CytomX Therapeutics by 10.4% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 280,593 shares of the biotechnology company’s stock valued at $331,000 after buying an additional 26,373 shares in the last quarter. Institutional investors and hedge funds own 67.77% of the company’s stock.

About CytomX Therapeutics

CytomX Therapeutics, Inc, an oncology-focused biopharmaceutical company, focuses on developing novel conditionally activated biologics localized to the tumor microenvironment. The company utilizes conditional activation platform technology for oncology biologics research and development comprising the validation of targets for antibody-drug conjugates (ADCs), opening therapeutic window for novel T-cell engagers (TCEs) targeting solid tumors, and increasing the therapeutic index for immune modulators, such as cytokines; and PROBODY platform in preclinical research in areas outside of oncology.