Peak Financial Advisors LLC Acquires New Holdings in CytomX Therapeutics, Inc. $CTMX

Peak Financial Advisors LLC bought a new position in shares of CytomX Therapeutics, Inc. (NASDAQ:CTMX) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 462,061 shares of the biotechnology company’s stock, valued at approximately $1,257,000.

Several other hedge funds have also recently bought and sold shares of CTMX. BlackRock Inc. acquired a new stake in CytomX Therapeutics during the 2nd quarter worth approximately $65,849,000. Bank of America Corp DE bought a new position in CytomX Therapeutics in the second quarter valued at approximately $56,560,000. Perceptive Advisors LLC boosted its holdings in shares of CytomX Therapeutics by 4.3% in the first quarter. Perceptive Advisors LLC now owns 10,098,824 shares of the biotechnology company’s stock valued at $47,464,000 after buying an additional 418,639 shares during the period. Wellington Management Group LLP boosted its holdings in shares of CytomX Therapeutics by 44.3% in the second quarter. Wellington Management Group LLP now owns 5,168,961 shares of the biotechnology company’s stock valued at $19,384,000 after buying an additional 1,585,976 shares during the period. Finally, Elmind Capital LP increased its position in shares of CytomX Therapeutics by 550.0% during the first quarter. Elmind Capital LP now owns 4,550,000 shares of the biotechnology company’s stock worth $21,385,000 after acquiring an additional 3,850,000 shares in the last quarter. 67.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on CTMX shares. JPMorgan Chase & Co. dropped their price objective on shares of CytomX Therapeutics from $12.00 to $11.00 and set an “overweight” rating on the stock in a report on Thursday, August 13th. Guggenheim cut their price objective on shares of CytomX Therapeutics from $15.00 to $14.00 and set a “buy” rating on the stock in a research report on Monday, August 10th. Wall Street Zen lowered shares of CytomX Therapeutics from a “hold” rating to a “sell” rating in a research note on Sunday, August 23rd. Weiss Ratings reiterated a “sell (d)” rating on shares of CytomX Therapeutics in a report on Friday, September 11th. Finally, Zacks Research downgraded CytomX Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 19th. 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 given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $11.90.

CytomX Therapeutics Stock Up 2.2%

NASDAQ:CTMX opened at $2.34 on Friday. The stock’s 50-day simple moving average is $2.83 and its 200 day simple moving average is $3.87. CytomX Therapeutics, Inc. has a 52-week low of $2.16 and a 52-week high of $8.21.

CytomX Therapeutics (NASDAQ:CTMX) last issued its quarterly earnings results on Thursday, August 6th. The biotechnology company reported ($0.09) 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 net margin of 435.21% and a negative return on equity of 38.46%. On average, analysts expect that CytomX Therapeutics, Inc. will post -0.40 earnings per share for the current fiscal year.

About CytomX Therapeutics

CytomX Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing cancer medicines designed to be activated selectively within the tumor microenvironment. The company’s approach is intended to improve the precision of treatment by limiting activity in healthy tissues while enabling therapeutic effects at tumor sites.

CytomX’s research is based on its Probody therapeutic platform, which uses molecular masking and tumor-associated protease activity to conditionally activate antibody-based medicines.