Eversept Partners LP Makes New Investment in CytomX Therapeutics, Inc. $CTMX

Eversept Partners LP bought a new position in CytomX Therapeutics, Inc. (NASDAQ:CTMX) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,507,090 shares of the biotechnology company’s stock, valued at approximately $10,680,000. Eversept Partners LP owned approximately 1.48% of CytomX Therapeutics as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in CTMX. Orbimed Advisors LLC bought a new stake in CytomX Therapeutics in the second quarter worth approximately $19,208,000. Commodore Capital LP acquired a new position in shares of CytomX Therapeutics during the 2nd quarter valued at about $17,462,000. Perceptive Advisors LLC acquired a new position in shares of CytomX Therapeutics during the 2nd quarter valued at about $15,876,000. State Street Corp increased its holdings in shares of CytomX Therapeutics by 697.1% during the 4th quarter. State Street Corp now owns 5,140,931 shares of the biotechnology company’s stock valued at $21,900,000 after acquiring an additional 4,495,949 shares during the last quarter. Finally, Balyasny Asset Management L.P. acquired a new position in shares of CytomX Therapeutics during the 2nd quarter valued at about $6,505,000. 67.77% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CTMX has been the topic of a number of analyst reports. Wedbush increased their price objective on CytomX Therapeutics from $6.00 to $11.00 and gave the company an “outperform” rating in a report on Tuesday, March 17th. Piper Sandler increased their price objective on CytomX Therapeutics from $10.00 to $12.00 and gave the company an “overweight” rating in a report on Monday, March 23rd. Oppenheimer reissued an “outperform” rating and set a $12.00 price objective on shares of CytomX Therapeutics in a report on Monday, March 16th. HC Wainwright lowered their price objective on CytomX Therapeutics from $17.00 to $11.00 and set a “buy” rating on the stock in a report on Monday, May 11th. Finally, Wall Street Zen raised CytomX Therapeutics from a “strong sell” rating to a “sell” rating in a report on Saturday, May 9th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $12.10.

CytomX Therapeutics Stock Up 1.0%

CTMX opened at $2.96 on Thursday. The firm has a market capitalization of $503.76 million, a P/E ratio of -7.22 and a beta of 2.08. The stock’s 50 day moving average price is $3.84 and its two-hundred day moving average price is $4.46. CytomX Therapeutics, Inc. has a 12-month low of $1.72 and a 12-month high of $8.21.

CytomX Therapeutics (NASDAQ:CTMX) last released its earnings results on Thursday, May 7th. The biotechnology company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.04. The firm had revenue of $10.26 million for the quarter, compared to analyst estimates of $4.68 million. CytomX Therapeutics had a negative return on equity of 36.61% and a negative net margin of 166.40%. As a group, analysts anticipate that CytomX Therapeutics, Inc. will post -0.45 earnings per share for the current 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.