Seven Fleet Capital Management LP Makes New $4.07 Billion Investment in CytomX Therapeutics, Inc. $CTMX

Seven Fleet Capital Management LP acquired a new stake in CytomX Therapeutics, Inc. (NASDAQ:CTMX) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 1,085,398 shares of the biotechnology company’s stock, valued at approximately $4,070,243,000. CytomX Therapeutics makes up about 0.7% of Seven Fleet Capital Management LP’s portfolio, making the stock its 28th largest holding.

Other institutional investors have also recently modified their holdings of the company. Goldman Sachs Group Inc. acquired a new stake in shares of CytomX Therapeutics during the 1st quarter worth $39,000. Woodline Partners LP acquired a new position in CytomX Therapeutics in the first quarter valued at about $1,054,000. Geode Capital Management LLC raised its stake in CytomX Therapeutics by 103.4% in the second quarter. Geode Capital Management LLC now owns 1,745,176 shares of the biotechnology company’s stock valued at $3,963,000 after purchasing an additional 887,218 shares in the last quarter. Invesco Ltd. bought a new stake in CytomX Therapeutics during the second quarter worth about $32,000. Finally, Marshall Wace LLP grew its stake in CytomX Therapeutics by 2,650.9% during the second quarter. Marshall Wace LLP now owns 2,353,122 shares of the biotechnology company’s stock worth $5,342,000 after buying an additional 2,267,583 shares in the last quarter. 67.77% of the stock is currently owned by institutional investors.

CytomX Therapeutics Price Performance

Shares of CytomX Therapeutics stock opened at $3.32 on Thursday. The company’s 50 day moving average price is $3.44 and its two-hundred day moving average price is $4.05. The firm has a market capitalization of $723.43 million, a P/E ratio of -6.64 and a beta of 2.12. CytomX Therapeutics, Inc. has a fifty-two week low of $1.90 and a fifty-two week high of $8.21.

CytomX Therapeutics (NASDAQ:CTMX) last announced its quarterly earnings results on Thursday, August 6th. The biotechnology company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.01). The company had revenue of $1.42 million for the quarter, compared to analyst estimates of $12.39 million. CytomX Therapeutics had a negative return on equity of 38.46% and a negative net margin of 435.21%. On average, analysts expect that CytomX Therapeutics, Inc. will post -0.4 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on CTMX shares. JPMorgan Chase & Co. dropped their target price on shares of CytomX Therapeutics from $12.00 to $11.00 and set an “overweight” rating for the company in a research report on Thursday, August 13th. Weiss Ratings restated a “sell (d)” rating on shares of CytomX Therapeutics in a research report on Tuesday, June 16th. Wall Street Zen downgraded shares of CytomX Therapeutics from a “hold” rating to a “sell” rating in a research report on Sunday. Guggenheim cut their target price on CytomX Therapeutics from $15.00 to $14.00 and set a “buy” rating for the company in a research note on Monday, August 10th. Finally, HC Wainwright reduced their target price on CytomX Therapeutics from $17.00 to $11.00 and set a “buy” rating on the stock in a report on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, CytomX Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $11.90.

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.