The Vanguard Group, Inc. recently announced the acquisition of new stake in CytomX Therapeutics Inc. (NASDAQ:CTMX). The institutional investor has increased its shareholding in the Healthcare company by 1.06% to 4.56 million shares with purchase of 47760.0 shares. This fresh investment now brings its stake to 6.91% valued currently at $9.81 million. In addition, Tang Capital Management LLC raised its holdings by 10445.0 to 3.51 million shares. And Millennium Management LLC has lifted its position by 222.96% or 1.19 million shares – to 1.72 million shares.
With over 1.85 million CytomX Therapeutics Inc. (CTMX) shares trading Monday and a closing price of $1.95 on the day, the dollar volume was approximately $3.62 million. The shares have shown a positive half year performance of 21.88% and its price on 03/13/23 gained nearly 4.84%. Currently, there are 65.91M common shares owned by the public and among those 65.22M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 9 analysts who have offered their price forecasts for CTMX have a consensus price objective of $2.83. The analysts have set the share’s price value over the next 12 months at a high of $4.00 and a low of $2.00. The average price target is 31.1% above its recent price level and an upside to the estimated low will see the stock gain 2.5% over that period. But an upside of 51.25% will see the stock hit the forecast high price target while median target price for the stock is $2.73.
Insiders at the company have transacted a total of 18 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 12 of these insider trades were purchases, accounting for 402,181 shares. Insider sales of the common stock occurred on 6 occasions, with total insider shares sold totaling 41,733 shares.
The top 3 mutual fund holders in CytomX Therapeutics Inc. are Vanguard Total Stock Market Index, FCP Medical – BioHealth, and Vanguard Explorer Fund. Vanguard Total Stock Market Index owns 2.11 million shares of the company’s stock, all valued at over $4.53 million. The company bought an additional 0.64 million shares recently to bring their total holdings to about 3.19% of the shares outstanding. Vanguard Explorer Fund now owns shares totaling to 1.62% of the shares outstanding.
Shares of CytomX Therapeutics Inc. (NASDAQ: CTMX) opened at $1.90, up $0.04 from a prior closing price of $1.86. However, the script later moved the day high at 2.0200, up 4.84%. The company’s stock has a 5-day price change of -6.25% and 20.37% over the past three months. CTMX shares are trading 21.88% year to date (YTD), with the 12-month market performance down to -48.82% lower. It has a 12-month low price of $1.17 and touched a high of $3.84 over the same period. CTMX has an average intraday trading volume of 2.54 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -11.74%, -17.61%, and 11.19% respectively.
Institutional ownership of CytomX Therapeutics Inc. (NASDAQ: CTMX) shares accounts for 59.30% of the company’s 65.91M shares outstanding. Mutual fund holders own 24.09%, while other institutional holders and individual stakeholders account for 43.72% and 14.37% respectively.
It has a market capitalization of $135.76M and a beta (3y monthly) value of 0.70. The earnings-per-share (ttm) stands at -$1.49. Price movements for the stock have been influenced by the stock’s volatility, which stands at 8.27% over the week and 5.44% over the month.
Analysts forecast that CytomX Therapeutics Inc. (CTMX) will achieve an EPS of -$0.24 for the current quarter, -$0.25 for the next quarter and -$0.97 for 2023. The lowest estimate earnings-per-share for the quarter is -$0.44 while analysts give the company a high EPS estimate of -$0.14. Comparatively, EPS for the current quarter was -$0.4 a year ago. Earnings per share for the fiscal year are expected to decrease by -82.90%, and 26.50% over the next financial year. EPS should shrink at an annualized rate of -0.90% over the next five years, compared to 4.30% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 9 brokerage firm advisors rate CytomX Therapeutics Inc. (CTMX) as a “Hold” at a consensus score of 3.00. Specifically, 0 Wall Street analysts polled rate the stock as a buy, while 7 of the 9 advise that investors “hold,” and 1 rated it as a “Sell.”
Looking at the support for the CTMX, a number of firms have released research notes about the stock. BMO Capital Markets stated their Market Perform rating for the stock in a research note on November 14, 2022, with the firm’s price target at $3-$2.60. Wedbush coverage for the CytomX Therapeutics Inc. (CTMX) stock in a research note released on July 07, 2022 offered a Neutral rating with a price target of $2. Piper Sandler was of a view on July 07, 2022 that the stock is Neutral, while Mizuho gave the stock Neutral rating on July 07, 2022, issuing a price target of $16- $4. Jefferies on their part issued Hold rating on July 07, 2022.
