$18.53 Million in Sales Expected for CytomX Therapeutics, Inc. (NASDAQ:CTMX) This Quarter

Equities analysts expect CytomX Therapeutics, Inc. (NASDAQ:CTMX) to post $18.53 million in sales for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for CytomX Therapeutics’ earnings, with the highest sales estimate coming in at $21.51 million and the lowest estimate coming in at $16.00 million. CytomX Therapeutics reported sales of $17.79 million during the same quarter last year, which indicates a positive year-over-year growth rate of 4.2%. The firm is scheduled to announce its next earnings report on Thursday, November 4th.

According to Zacks, analysts expect that CytomX Therapeutics will report full year sales of $80.30 million for the current year, with estimates ranging from $64.26 million to $119.10 million. For the next financial year, analysts expect that the firm will post sales of $76.44 million, with estimates ranging from $62.75 million to $104.80 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover CytomX Therapeutics.

CytomX Therapeutics (NASDAQ:CTMX) last posted its quarterly earnings data on Thursday, August 5th. The biotechnology company reported ($0.30) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.26) by ($0.04). The firm had revenue of $16.29 million for the quarter, compared to the consensus estimate of $18.13 million. CytomX Therapeutics had a negative return on equity of 68.52% and a negative net margin of 96.67%.

A number of research analysts recently issued reports on the company. Zacks Investment Research downgraded CytomX Therapeutics from a “buy” rating to a “hold” rating in a report on Wednesday, August 11th. HC Wainwright reiterated a “buy” rating and set a $12.00 price objective on shares of CytomX Therapeutics in a report on Monday, August 9th. Finally, Barclays downgraded CytomX Therapeutics from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $9.00 to $7.00 in a research note on Friday, May 28th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $9.75.

A number of hedge funds have recently bought and sold shares of the business. Morgan Stanley grew its stake in CytomX Therapeutics by 5,827.7% in the second quarter. Morgan Stanley now owns 636,037 shares of the biotechnology company’s stock valued at $4,027,000 after purchasing an additional 625,307 shares in the last quarter. Invesco Ltd. grew its stake in CytomX Therapeutics by 99.9% in the second quarter. Invesco Ltd. now owns 25,325 shares of the biotechnology company’s stock valued at $161,000 after purchasing an additional 12,657 shares in the last quarter. Metropolitan Life Insurance Co NY lifted its position in shares of CytomX Therapeutics by 118,175.0% in the second quarter. Metropolitan Life Insurance Co NY now owns 18,924 shares of the biotechnology company’s stock valued at $120,000 after buying an additional 18,908 shares during the last quarter. Millennium Management LLC lifted its position in shares of CytomX Therapeutics by 40.9% in the second quarter. Millennium Management LLC now owns 596,329 shares of the biotechnology company’s stock valued at $3,775,000 after buying an additional 173,087 shares during the last quarter. Finally, MetLife Investment Management LLC lifted its position in shares of CytomX Therapeutics by 396.2% in the second quarter. MetLife Investment Management LLC now owns 26,108 shares of the biotechnology company’s stock valued at $165,000 after buying an additional 20,846 shares during the last quarter. Hedge funds and other institutional investors own 87.03% of the company’s stock.

Shares of NASDAQ:CTMX traded up $0.05 during mid-day trading on Monday, reaching $5.30. 9,342 shares of the stock were exchanged, compared to its average volume of 891,887. The company has a market cap of $345.33 million, a P/E ratio of -4.41 and a beta of 0.69. CytomX Therapeutics has a one year low of $4.28 and a one year high of $10.05. The stock’s 50 day simple moving average is $5.24 and its 200-day simple moving average is $6.82.

CytomX Therapeutics Company Profile

CytomX Therapeutics, Inc engages in the development of antibody therapeutics for the treatment of cancer based on its Probody therapeutic technology platform. Its pipeline includes immunotherapies, probody drug conjugates, T cell engaging bispecifics, and other multiple programs. The company was founded by Frederick W.

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Earnings History and Estimates for CytomX Therapeutics (NASDAQ:CTMX)

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