CytomX Therapeutics (NASDAQ:CTMX) Shares Gap Down – Should You Sell?

CytomX Therapeutics, Inc. (NASDAQ:CTMX) gapped down prior to trading on Thursday . The stock had previously closed at $4.23, but opened at $4.05. CytomX Therapeutics shares last traded at $4.0750, with a volume of 823,207 shares.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. HC Wainwright upped their price objective on shares of CytomX Therapeutics from $5.00 to $10.00 and gave the company a “buy” rating in a report on Tuesday. Cantor Fitzgerald assumed coverage on CytomX Therapeutics in a research report on Monday, September 22nd. They issued an “overweight” rating and a $6.00 target price on the stock. Weiss Ratings raised shares of CytomX Therapeutics from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, October 8th. Barclays lifted their price objective on shares of CytomX Therapeutics from $3.50 to $6.00 and gave the company an “overweight” rating in a research note on Tuesday, October 21st. Finally, Oppenheimer started coverage on shares of CytomX Therapeutics in a report on Thursday, July 31st. They set an “outperform” rating and a $7.00 target price for the company. Six analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $6.67.

CytomX Therapeutics Price Performance

The stock has a market capitalization of $659.95 million, a PE ratio of 7.03 and a beta of 2.29. The stock’s fifty day moving average is $3.07 and its 200-day moving average is $2.46.

CytomX Therapeutics (NASDAQ:CTMX) last released its quarterly earnings results on Thursday, November 6th. The biotechnology company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.05). CytomX Therapeutics had a return on equity of 158.70% and a net margin of 34.04%.The business had revenue of $5.96 million during the quarter, compared to analyst estimates of $11.50 million. On average, analysts forecast that CytomX Therapeutics, Inc. will post -0.05 EPS for the current year.

Hedge Funds Weigh In On CytomX Therapeutics

A number of large investors have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC purchased a new stake in shares of CytomX Therapeutics during the third quarter worth about $25,000. Miller Financial Services LLC boosted its position in shares of CytomX Therapeutics by 104.0% during the 1st quarter. Miller Financial Services LLC now owns 51,000 shares of the biotechnology company’s stock valued at $32,000 after acquiring an additional 26,000 shares during the last quarter. Invesco Ltd. acquired a new stake in CytomX Therapeutics during the second quarter worth about $32,000. Pursue Wealth Partners LLC purchased a new position in CytomX Therapeutics during the second quarter worth about $33,000. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new position in CytomX Therapeutics in the 3rd quarter valued at about $34,000. 67.77% of the stock is currently owned by institutional investors and hedge funds.

About CytomX Therapeutics

CytomX Therapeutics, Inc, an oncology-focused biopharmaceutical company, focuses on developing novel conditionally activated biologics localized to the tumor microenvironment. The company utilizes conditional activation platform technology for oncology biologics research and development comprising the validation of targets for antibody-drug conjugates (ADCs), opening therapeutic window for novel T-cell engagers (TCEs) targeting solid tumors, and increasing the therapeutic index for immune modulators, such as cytokines; and PROBODY platform in preclinical research in areas outside of oncology.