CytomX Therapeutics, Inc. (NASDAQ:CTMX) Trading Volume Significantly Higher


CTMX has been the subject of several analyst reports.

Among 7 analysts covering CytomX Therapeutics (CTMX), 6 have Buy rating, 0 Sell and 1 Hold. Jefferies maintained the stock with "Buy" rating in Tuesday, September 26 report.

There has been some selling insider activity on CytomX Therapeutics, Inc. Finally, Wedbush reiterated an "outperform" rating and set a $37.00 price target (up from $26.00) on shares of CytomX Therapeutics in a research report on Wednesday.

03/27/2017 - H.C. Wainwright began new coverage on CytomX Therapeutics, Inc. giving the company a "buy" rating. CytomX Therapeutics, Inc. (CTMX) average trading volume of 460,115 during the past month is 80.91% above its average volume over the past year, indicating that investors have been more active than usual in the stock in recent times. Company shares last traded at $21.48 much higher than the 50 day moving average of $17.15 and which is significantly higher than the 200 day moving average of $15.67. The company has market cap of $792.65 million. Should Amgen ultimately pursue all of these targets, CytomX will be eligible to receive up to $950 million in additional upfront and milestone payments and high single-digit to mid-double digit royalty payments on any resulting products.

Wall Street await CytomX Therapeutics Inc (NASDAQ:CTMX) to release earnings on November, 2. Analysts expect next quarter's EPS to be $-0.41 and the next full year EPS is anticipated to be $-1.38. Amgen will lead later development and the sales side, should it gain approval, with "global late-stage development costs shared between the two companies". The company had revenue of $8.75 million for the quarter, compared to the consensus estimate of $4.95 million.

In the last earnings report the EPS was $-1.70 and is estimated to be $-1.47 for the current year with 36,867,000 shares presently outstanding. Raymond James maintained the shares of TF in report on Friday, March 3 with "Outperform" rating. The firm has "Buy" rating by Cowen & Co given on Tuesday, August 8. They now have a United States dollars 32 price target on the stock. Also, CEO Sean A. Mccarthy sold 19,120 shares of the company's stock in a transaction that occurred on Wednesday, October 4th. The stock was sold at an average price of $15.00, for a total value of $71,715.00. Vanguard Group Inc. now owns 924,138 shares of the biotechnology company's stock valued at $14,323,000 after purchasing an additional 100,607 shares in the last quarter. The disclosure for this sale can be found here. The rating was downgraded by Oppenheimer to "Perform" on Tuesday, January 3.

Hedge funds and other institutional investors own 59.97% of the company's stock. EcoR1 Capital LLC purchased a new position in shares of CytomX Therapeutics during the first quarter worth about $13,729,000.

Amgen has announced a new partnership with CytomX Therapeutics that aims to develop new treatments for cancer. Legal & General Group Plc boosted its stake in CytomX Therapeutics by 28.6% in the 2nd quarter. Short interest grew from 1,213,162 to 1,276,027 over that timeframe. Opaleye Management Inc. now owns 460,000 shares worth $7,130,000.

By the terms of the agreement, Amgen and CytomX Therapeutics would jointly develop the Probody T-cell engaging bispecific antibody against EGFRxCD3. Dev. now owns $338,740 of the stock per an SEC filing yesterday.

Shares of South San Francisco-based CytomX Therapeutics are up more than 34 percent in early market trading after the company forged a strategic collaboration in immuno-oncology worth up to $1.5 billion with pharma giant Amgen (AMGN).