HC Wainwright Has Optimistic Outlook of CTMX FY2024 Earnings

CytomX Therapeutics, Inc. (NASDAQ:CTMX) – Research analysts at HC Wainwright raised their FY2024 EPS estimates for shares of CytomX Therapeutics in a note issued to investors on Monday, November 11th. HC Wainwright analyst M. Kapoor now anticipates that the biotechnology company will post earnings per share of $0.14 for the year, up from their prior forecast 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 Stock Performance

NASDAQ:CTMX opened at $1.04 on Wednesday. The company has a market capitalization of $81.24 million, a P/E ratio of 6.12 and a beta of 1.06. The stock’s 50 day moving average price is $1.14 and its 200 day moving average price is $1.47. CytomX Therapeutics has a 52 week low of $0.98 and a 52 week high of $5.85.

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

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. SG Americas Securities LLC bought a new position in shares of CytomX Therapeutics during the 1st quarter worth about $57,000. US Bancorp DE acquired a new stake in shares of CytomX Therapeutics during the 3rd quarter worth approximately $40,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of CytomX Therapeutics during the first quarter valued at approximately $124,000. XTX Topco Ltd raised its stake in shares of CytomX Therapeutics by 382.6% in the second quarter. XTX Topco Ltd now owns 60,586 shares of the biotechnology company’s stock valued at $74,000 after purchasing an additional 48,033 shares in the last quarter. Finally, Forefront Analytics LLC lifted its position in CytomX Therapeutics by 206.7% in the second quarter. Forefront Analytics LLC now owns 64,065 shares of the biotechnology company’s stock worth $78,000 after purchasing an additional 43,176 shares during the period. Institutional investors and hedge funds own 67.77% of the company’s stock.

CytomX Therapeutics Company Profile

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.