A History of Outperforming Analyst Forecasts and Beating the Odds: CytomX Therapeutics Inc. (CTMX)

CytomX Therapeutics Inc. (NASDAQ: CTMX) stock fell -5.26% on Wednesday to $1.80 against a previous-day closing price of $1.90. With 0.51 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.76 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $1.8700 whereas the lowest price it dropped to was $1.7600. The 52-week range on CTMX shows that it touched its highest point at $3.02 and its lowest point at $1.17 during that stretch. It currently has a 1-year price target of $2.52. Beta for the stock currently stands at 0.63.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of CTMX was up-trending over the past week, with a rise of 1.69%, but this was up by 11.80% over a month. Three-month performance dropped to -19.28% while six-month performance rose 5.26%. The stock gained 13.92% in the past year, while it has gained 12.50% so far this year. A look at the trailing 12-month EPS for CTMX yields -1.20 with Next year EPS estimates of -0.94. For the next quarter, that number is -0.21. This implies an EPS growth rate of 16.40% for this year and -38.20% for next year. EPS is expected to decline by -0.90% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 4.00%.

Float and Shares Shorts:

At present, 66.25 million CTMX shares are outstanding with a float of 65.22 million shares on hand for trading. On Apr 27, 2023, short shares totaled 2.46 million, which was 3.70% higher than short shares on Mar 30, 2023. In addition to Dr. Sean A. McCarthy D.Phil., DPHIL as the firm’s Chairman & CEO, Mr. Lloyd A. Rowland Jr., J.D. serves as its Sr. VP, Gen. Counsel, Chief Compliance Officer & Sec.

Institutional Ownership:

Through their ownership of 57.42% of CTMX’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 42.69% of CTMX, in contrast to 24.25% held by mutual funds. Shares owned by individuals account for 14.38%. As the largest shareholder in CTMX with 9.96% of the stake, BVF Partners LP holds 6,595,801 shares worth 6,595,801. A second-largest stockholder of CTMX, Tang Capital Management LLC, holds 6,093,032 shares, controlling over 9.20% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in CTMX, holding 4,892,243 shares or 7.39% stake. With a 3.30% stake in CTMX, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 2,182,220 shares are owned by the mutual fund manager. The FCP Medical – BioHealth, which owns about 2.00% of CTMX stock, is the second-largest Mutual Fund holder. It holds 1,326,348 shares valued at 2.16 million. Vanguard Explorer Fund holds 1.61% of the stake in CTMX, owning 1,067,482 shares worth 1.74 million.

An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, CTMX reported revenue of $18.16M and operating income of -$24.74M. The EBITDA in the recently reported quarter was -$24.13M and diluted EPS was -$0.37.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for CTMX since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With CTMX analysts setting a high price target of $3.50 and a low target of $2.00, the average target price over the next 12 months is $2.53. Based on these targets, CTMX could surge 94.44% to reach the target high and rise by 11.11% to reach the target low. Reaching the average price target will result in a growth of 40.56% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.

Summary of Insider Activity:

Insiders traded CTMX stock several times over the past three months with 2 Buys and 6 Sells. In these transactions, 65,000 shares were bought while 17,156 shares were sold. The number of buy transactions has increased to 12 while that of sell transactions has risen to 12 over the past year. The total number of shares bought during that period was 376,250 while 58,889 shares were sold.

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