CytomX Therapeutics (NASDAQ:CTMX) Trading Down 6.5% – What’s Next?

CytomX Therapeutics, Inc. (NASDAQ:CTMX) shares dropped 6.5% on Tuesday . The company traded as low as $4.11 and last traded at $4.0130. Approximately 231,043 shares were traded during trading, a decline of 93% from the average daily volume of 3,338,685 shares. The stock had previously closed at $4.29.

Analyst Upgrades and Downgrades

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

CytomX Therapeutics Price Performance

The stock’s fifty day moving average price is $3.56 and its 200-day moving average price is $2.72. The firm has a market cap of $656.56 million, a PE ratio of 6.90 and a beta of 2.29.

CytomX Therapeutics (NASDAQ:CTMX) last released its earnings results on Thursday, November 6th. The biotechnology company reported ($0.09) earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $11.50 million. On average, sell-side analysts anticipate that CytomX Therapeutics, Inc. will post -0.05 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CytomX Therapeutics

Several institutional investors have recently added to or reduced their stakes in CTMX. Farther Finance Advisors LLC purchased a new position in shares of CytomX Therapeutics in the third quarter valued at $25,000. Invesco Ltd. purchased a new position in CytomX Therapeutics in the second quarter valued at approximately $32,000. Pursue Wealth Partners LLC acquired a new position in CytomX Therapeutics during the second quarter valued at approximately $33,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new stake in CytomX Therapeutics during the third quarter worth approximately $34,000. Finally, Goldman Sachs Group Inc. acquired a new stake in shares of CytomX Therapeutics in the first quarter worth $39,000. Institutional investors and hedge funds 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.