Elmind Capital LP Buys New Stake in CytomX Therapeutics, Inc. $CTMX

Elmind Capital LP bought a new position in CytomX Therapeutics, Inc. (NASDAQ:CTMX) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 4,550,000 shares of the biotechnology company’s stock, valued at approximately $17,062,500,000. CytomX Therapeutics accounts for about 4.3% of Elmind Capital LP’s portfolio, making the stock its 9th biggest position. Elmind Capital LP owned about 2.09% of CytomX Therapeutics at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. AWM Investment Company Inc. bought a new stake in CytomX Therapeutics during the second quarter valued at about $562,000. ADAR1 Capital Management LLC acquired a new position in shares of CytomX Therapeutics during the 2nd quarter worth about $12,619,000. Hsbc Holdings PLC acquired a new position in shares of CytomX Therapeutics during the 2nd quarter worth about $103,000. Canada Pension Plan Investment Board bought a new stake in CytomX Therapeutics during the 2nd quarter valued at approximately $531,000. Finally, Legal & General Group Plc bought a new stake in CytomX Therapeutics during the 2nd quarter valued at approximately $462,000. 67.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have commented on CTMX shares. Zacks Research downgraded CytomX Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 19th. HC Wainwright lowered their price objective on shares of CytomX Therapeutics from $17.00 to $11.00 and set a “buy” rating on the stock in a research note on Monday, May 11th. JPMorgan Chase & Co. dropped their target price on shares of CytomX Therapeutics from $12.00 to $11.00 and set an “overweight” rating on the stock in a research report on Thursday, August 13th. Guggenheim cut their target price on shares of 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, Wall Street Zen downgraded shares of CytomX Therapeutics from a “hold” rating to a “sell” rating in a report on Sunday. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has assigned 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 an average target price of $11.90.

CytomX Therapeutics Price Performance

Shares of CTMX stock opened at $3.37 on Wednesday. CytomX Therapeutics, Inc. has a one year low of $1.90 and a one year high of $8.21. The stock has a fifty day moving average price of $3.43 and a 200 day moving average price of $4.07. The stock has a market cap of $734.32 million, a P/E ratio of -6.74 and a beta of 2.12.

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 business had revenue of $1.42 million during the quarter, compared to the consensus estimate of $12.39 million. CytomX Therapeutics had a negative net margin of 435.21% and a negative return on equity of 38.46%. Equities research analysts anticipate that CytomX Therapeutics, Inc. will post -0.4 EPS for the current year.

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.