CytomX Therapeutics (NASDAQ:CTMX) Posts Earnings Results, Misses Estimates By $0.01 EPS

CytomX Therapeutics (NASDAQ:CTMX) announced its quarterly earnings results on Thursday. The biotechnology company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.01), Zacks reports. CytomX Therapeutics had a negative net margin of 435.21% and a negative return on equity of 45.40%. The firm had revenue of $1.42 million during the quarter, compared to analyst estimates of $12.39 million.

Here are the key takeaways from CytomX Therapeutics’ conference call:

• Varseta-M dose-optimization enrollment is complete, with a 113-patient Phase I study ongoing; CytomX expects to report broader monotherapy data, including initial progression-free and overall-survival information, by year-end 2026 and start a potential registrational study in the first half of 2027.
• The company is expanding Varseta-M into earlier-line colorectal cancer through bevacizumab and 5-FU/leucovorin combinations, with initial combination data expected in the first half of 2027 and a goal of replacing irinotecan in second-line treatment.
• CytomX is broadening Varseta-M into gastric/GEJ, pancreatic, and biliary tract cancers through new Phase I expansion cohorts, potentially positioning the drug as a pan-gastrointestinal ADC.
• CytomX received a $37 million Regeneron payment in July for two additional collaboration targets, taking pro forma cash to approximately $367 million; management projects cash runway into at least the second half of 2028.
• Diarrhea remains a key development risk for Varseta-M, particularly if Grade 3 rates trend toward the high end of the company’s 10%–20% risk-benefit range, which could affect its movement into earlier treatment lines despite reported improvement with loperamide and budesonide prophylaxis.

CytomX Therapeutics Price Performance

Shares of CTMX traded up $0.09 during midday trading on Friday, hitting $3.46. The stock had a trading volume of 2,461,314 shares, compared to its average volume of 3,128,085. The company has a 50 day simple moving average of $3.35 and a two-hundred day simple moving average of $4.27. CytomX Therapeutics has a twelve month low of $1.72 and a twelve month high of $8.21. The firm has a market cap of $588.86 million, a price-to-earnings ratio of -6.92 and a beta of 2.12.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Wells Fargo & Company MN lifted its stake in CytomX Therapeutics by 83.2% in the 4th quarter. Wells Fargo & Company MN now owns 6,605 shares of the biotechnology company’s stock valued at $28,000 after acquiring an additional 3,000 shares in the last quarter. Invesco Ltd. bought a new stake in shares of CytomX Therapeutics in the second quarter worth $32,000. Goldman Sachs Group Inc. bought a new stake in shares of CytomX Therapeutics in the first quarter worth $39,000. JPMorgan Chase & Co. boosted its holdings in CytomX Therapeutics by 5,648.0% during the third quarter. JPMorgan Chase & Co. now owns 16,152 shares of the biotechnology company’s stock worth $52,000 after purchasing an additional 15,871 shares during the last quarter. Finally, Hsbc Holdings PLC acquired a new stake in CytomX Therapeutics in the 4th quarter valued at $52,000. 67.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on CTMX. Zacks Research upgraded CytomX Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 21st. Weiss Ratings reiterated a “sell (d)” rating on shares of CytomX Therapeutics in a research report on Tuesday, June 16th. Wall Street Zen raised CytomX Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 9th. Wolfe Research assumed coverage on CytomX Therapeutics in a research note on Tuesday, May 19th. They set an “outperform” rating and a $6.00 target price for the company. Finally, HC Wainwright dropped their target price on shares of CytomX Therapeutics from $17.00 to $11.00 and set a “buy” rating on the stock in a report on Monday, May 11th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, CytomX Therapeutics currently has an average rating of “Buy” and a consensus target price of $12.10.

CytomX Therapeutics Company Profile

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.