Elmind Capital LP Invests $2.98 Million in CytomX Therapeutics, Inc. $CTMX

Elmind Capital LP acquired a new position in shares of CytomX Therapeutics, Inc. (NASDAQ:CTMX) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 700,000 shares of the biotechnology company’s stock, valued at approximately $2,982,000. CytomX Therapeutics makes up approximately 0.9% of Elmind Capital LP’s investment portfolio, making the stock its 25th largest holding.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Orbimed Advisors LLC acquired a new position in CytomX Therapeutics in the second quarter valued at approximately $19,208,000. Commodore Capital LP acquired a new position in CytomX Therapeutics in the second quarter valued at approximately $17,462,000. Perceptive Advisors LLC acquired a new position in CytomX Therapeutics in the second quarter valued at approximately $15,876,000. State Street Corp boosted its holdings in CytomX Therapeutics by 697.1% in the fourth quarter. State Street Corp now owns 5,140,931 shares of the biotechnology company’s stock valued at $21,900,000 after purchasing an additional 4,495,949 shares in the last quarter. Finally, Baker BROS. Advisors LP boosted its holdings in CytomX Therapeutics by 22.0% in the third quarter. Baker BROS. Advisors LP now owns 4,250,826 shares of the biotechnology company’s stock valued at $13,560,000 after purchasing an additional 766,600 shares in the last quarter. 67.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on CTMX shares. Wolfe Research started coverage on CytomX Therapeutics in a report on Tuesday, May 19th. They issued an “outperform” rating and a $6.00 price target for the company. Oppenheimer reaffirmed an “outperform” rating and issued a $12.00 price target on shares of CytomX Therapeutics in a report on Monday, March 16th. HC Wainwright lowered their price target on CytomX Therapeutics from $17.00 to $11.00 and set a “buy” rating for the company in a report on Monday, May 11th. Barclays upped their price target on CytomX Therapeutics from $10.00 to $16.00 and gave the company an “overweight” rating in a report on Thursday, March 19th. Finally, Weiss Ratings downgraded CytomX Therapeutics from a “hold (c-)” rating to a “sell (d)” rating in a report on Thursday, March 19th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.10.

CytomX Therapeutics Trading Up 1.0%

CTMX stock opened at $2.96 on Thursday. The company has a market capitalization of $503.76 million, a P/E ratio of -7.22 and a beta of 2.08. CytomX Therapeutics, Inc. has a twelve month low of $1.72 and a twelve month high of $8.21. The business has a 50 day simple moving average of $3.84 and a 200-day simple moving average of $4.46.

CytomX Therapeutics (NASDAQ:CTMX) last posted its quarterly earnings data on Thursday, May 7th. The biotechnology company reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.04. The business had revenue of $10.26 million during the quarter, compared to the consensus estimate of $4.68 million. CytomX Therapeutics had a negative return on equity of 36.61% and a negative net margin of 166.40%. Research analysts predict that CytomX Therapeutics, Inc. will post -0.45 EPS for the current fiscal year.

About CytomX Therapeutics

CytomX Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of next-generation therapeutics based on its proprietary Probody® platform. The company engineers masked antibody prodrugs that remain inactive in healthy tissue but are selectively activated in the tumor microenvironment. This approach is designed to enhance the safety and tolerability of antibody-based therapies, particularly those targeting immuno-oncology pathways.

At the core of CytomX’s pipeline is Pacmilimab (CX-072), an anti–PD-L1 Probody therapeutic currently undergoing clinical evaluation for multiple solid tumor indications.