CytomX Therapeutics (NASDAQ:CTMX) Trading Down 7.1% – What’s Next?

CytomX Therapeutics, Inc. (NASDAQ:CTMX) shares were down 7.1% during mid-day trading on Monday . The stock traded as low as $3.56 and last traded at $3.6050. Approximately 2,593,262 shares traded hands during trading, a decline of 24% from the average daily volume of 3,393,625 shares. The stock had previously closed at $3.88.

Wall Street Analyst Weigh In

CTMX has been the topic of several research analyst reports. HC Wainwright boosted their target price on CytomX Therapeutics from $5.00 to $10.00 and gave the stock a “buy” rating in a research note on Tuesday, November 11th. Oppenheimer assumed coverage on shares of CytomX Therapeutics in a research note on Thursday, July 31st. They issued an “outperform” rating and a $7.00 price objective on the stock. Cantor Fitzgerald assumed coverage on shares of CytomX Therapeutics in a research report on Monday, September 22nd. They issued an “overweight” rating and a $6.00 price objective for the company. Wall Street Zen lowered shares of CytomX Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Finally, Wedbush restated an “outperform” rating and issued a $6.00 target price on shares of CytomX Therapeutics in a research note on Friday, November 7th. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, CytomX Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $6.67.

CytomX Therapeutics Price Performance

The firm has a market capitalization of $614.20 million, a PE ratio of 6.46 and a beta of 2.29. The business’s 50 day moving average is $3.20 and its two-hundred day moving average is $2.56.

CytomX Therapeutics (NASDAQ:CTMX) last posted its quarterly earnings data on Thursday, November 6th. The biotechnology company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.05). CytomX Therapeutics had a net margin of 34.04% and a return on equity of 158.70%. The firm had revenue of $5.96 million for the quarter, compared to the consensus estimate of $11.50 million. Analysts expect that CytomX Therapeutics, Inc. will post -0.05 EPS for the current fiscal year.

Hedge Funds Weigh In On CytomX Therapeutics

Institutional investors have recently made changes to their positions in the company. Farther Finance Advisors LLC acquired a new stake in shares of CytomX Therapeutics during the third quarter worth about $25,000. 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. Truist Financial Corp purchased a new position in shares of CytomX Therapeutics in the 3rd quarter valued at about $40,000. Invesco Ltd. acquired a new stake in shares of CytomX Therapeutics during the 2nd quarter worth about $32,000. Finally, Pursue Wealth Partners LLC acquired a new stake in shares of CytomX Therapeutics in the 2nd quarter valued at about $33,000. Hedge funds and other institutional investors own 67.77% of the company’s stock.

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.