Point72 Asset Management L.P. Takes $2.73 Million Position in CytomX Therapeutics, Inc. (NASDAQ:CTMX)

Point72 Asset Management L.P. purchased a new stake in shares of CytomX Therapeutics, Inc. (NASDAQ:CTMX) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 2,650,000 shares of the biotechnology company’s stock, valued at approximately $2,730,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. JPMorgan Chase & Co. lifted its position in shares of CytomX Therapeutics by 288,736.3% during the 4th quarter. JPMorgan Chase & Co. now owns 811,630 shares of the biotechnology company’s stock valued at $836,000 after acquiring an additional 811,349 shares during the period. Renaissance Technologies LLC increased its stake in shares of CytomX Therapeutics by 32.7% during the 4th quarter. Renaissance Technologies LLC now owns 1,346,800 shares of the biotechnology company’s stock worth $1,387,000 after purchasing an additional 331,800 shares in the last quarter. Prudential Financial Inc. increased its stake in shares of CytomX Therapeutics by 76.2% during the 4th quarter. Prudential Financial Inc. now owns 64,300 shares of the biotechnology company’s stock worth $66,000 after purchasing an additional 27,800 shares in the last quarter. Schonfeld Strategic Advisors LLC increased its stake in shares of CytomX Therapeutics by 13.9% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 1,380,800 shares of the biotechnology company’s stock worth $1,422,000 after purchasing an additional 169,000 shares in the last quarter. Finally, Algert Global LLC purchased a new position in shares of CytomX Therapeutics during the 4th quarter worth approximately $35,000. 67.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on CTMX. StockNews.com raised shares of CytomX Therapeutics from a “hold” rating to a “buy” rating in a research note on Tuesday, May 13th. Wedbush reissued an “outperform” rating and set a $6.00 price objective (up from $5.00) on shares of CytomX Therapeutics in a research note on Monday, May 12th. Piper Sandler raised their price objective on shares of CytomX Therapeutics from $2.50 to $5.00 and gave the stock an “overweight” rating in a research note on Thursday, May 15th. Finally, HC Wainwright raised shares of CytomX Therapeutics from a “neutral” rating to a “buy” rating and set a $5.00 price objective for the company in a research note on Thursday, May 15th.

CytomX Therapeutics Price Performance

Shares of CTMX opened at $2.06 on Wednesday. The stock has a market cap of $166.08 million, a price-to-earnings ratio of 12.12 and a beta of 1.11. CytomX Therapeutics, Inc. has a 1-year low of $0.40 and a 1-year high of $2.55. The firm has a 50 day simple moving average of $0.88 and a 200-day simple moving average of $0.91.

CytomX Therapeutics (NASDAQ:CTMX) last released its earnings results on Monday, May 12th. The biotechnology company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.18 by $0.09. The firm had revenue of $50.92 million during the quarter, compared to analysts’ expectations of $35.42 million. CytomX Therapeutics had a net margin of 10.96% and a negative return on equity of 41.47%. During the same period in the previous year, the company earned $0.17 EPS. On average, equities analysts expect that CytomX Therapeutics, Inc. will post -0.05 earnings per share for the current fiscal year.

CytomX Therapeutics 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.