CytomX Therapeutics (NASDAQ:CTMX) Trading Down 3.5% – What’s Next?

CytomX Therapeutics, Inc. (NASDAQ:CTMX)’s stock price was down 3.5% on Thursday . The stock traded as low as $3.96 and last traded at $3.9650. Approximately 1,014,512 shares changed hands during trading, a decline of 69% from the average daily volume of 3,273,555 shares. The stock had previously closed at $4.11.

Analyst Upgrades and Downgrades

CTMX has been the subject of a number of research analyst reports. Wall Street Zen lowered CytomX Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Wedbush restated an “outperform” rating and set a $6.00 price target on shares of CytomX Therapeutics in a research note on Friday, November 7th. Barclays upped their price objective on CytomX Therapeutics from $3.50 to $6.00 and gave the company an “overweight” rating in a research note on Tuesday, October 21st. HC Wainwright increased their target price on shares of CytomX Therapeutics from $5.00 to $10.00 and gave the stock a “buy” rating in a research report on Tuesday, November 11th. Finally, Weiss Ratings upgraded CytomX Therapeutics from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, October 8th. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $6.67.

CytomX Therapeutics Stock Down 4.0%

The firm has a market capitalization of $668.40 million, a price-to-earnings ratio of 9.86 and a beta of 2.37. The company’s fifty day moving average is $3.79 and its two-hundred day moving average is $2.86.

CytomX Therapeutics (NASDAQ:CTMX) last released its earnings results on Thursday, November 6th. The biotechnology company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.05). The business had revenue of $5.96 million for the quarter, compared to analyst estimates of $11.50 million. CytomX Therapeutics had a return on equity of 44.49% and a net margin of 24.66%. On average, equities research analysts expect that CytomX Therapeutics, Inc. will post -0.05 EPS for the current year.

Hedge Funds Weigh In On CytomX Therapeutics

Several hedge funds have recently added to or reduced their stakes in CTMX. Velan Capital Investment Management LP grew its position in shares of CytomX Therapeutics by 6.7% during the 3rd quarter. Velan Capital Investment Management LP now owns 80,000 shares of the biotechnology company’s stock worth $255,000 after buying an additional 5,000 shares during the period. Farther Finance Advisors LLC acquired a new stake in shares of CytomX Therapeutics in the 3rd quarter valued at approximately $25,000. Congress Park Capital LLC boosted its stake in CytomX Therapeutics by 8.9% during the 3rd quarter. Congress Park Capital LLC now owns 103,922 shares of the biotechnology company’s stock worth $332,000 after acquiring an additional 8,500 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in CytomX Therapeutics by 1.2% during the second quarter. Assenagon Asset Management S.A. now owns 720,020 shares of the biotechnology company’s stock valued at $1,634,000 after purchasing an additional 8,566 shares during the period. Finally, Aspire Growth Partners LLC grew its holdings in CytomX Therapeutics by 10.8% during the second quarter. Aspire Growth Partners LLC now owns 102,254 shares of the biotechnology company’s stock valued at $232,000 after purchasing an additional 10,000 shares during the period. Institutional investors and hedge funds own 67.77% of the company’s stock.

CytomX Therapeutics Company Profile

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.