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

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

Wall Street Analyst Weigh In

CTMX has been the subject of a number of recent research reports. Cantor Fitzgerald assumed coverage on CytomX Therapeutics in a research note on Monday, September 22nd. They set an “overweight” rating and a $6.00 price objective for the company. HC Wainwright upped their price target 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. Wall Street Zen cut shares of CytomX Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Barclays boosted their target price 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, Weiss Ratings upgraded shares of CytomX Therapeutics from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, October 8th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, CytomX Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $6.67.

CytomX Therapeutics Stock Performance

The company has a market cap of $668.40 million, a P/E ratio of 9.86 and a beta of 2.37. The stock has a 50 day moving average price of $3.79 and a 200 day moving average price of $2.86.

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 24.66% and a return on equity of 44.49%. The business had revenue of $5.96 million for the quarter, compared to the consensus estimate of $11.50 million. As a group, equities research analysts predict that CytomX Therapeutics, Inc. will post -0.05 earnings per share for the current year.

Hedge Funds Weigh In On CytomX Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CTMX. RA Capital Management L.P. purchased a new position in shares of CytomX Therapeutics during the first quarter valued at $636,000. Vivo Capital LLC bought a new position in CytomX Therapeutics during the second quarter valued at approximately $13,096,000. Franklin Resources Inc. bought a new position in shares of CytomX Therapeutics during the 2nd quarter valued at $13,096,000. Pursue Wealth Partners LLC acquired a new stake in shares of CytomX Therapeutics in the second quarter worth about $33,000. Finally, Assenagon Asset Management S.A. lifted its holdings in CytomX Therapeutics by 1.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 720,020 shares of the biotechnology company’s stock worth $1,634,000 after purchasing an additional 8,566 shares during the last quarter. 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.