CytomX Therapeutics Target of Unusually High Options Trading (NASDAQ:CTMX)

CytomX Therapeutics, Inc. (NASDAQ:CTMX) was the target of some unusual options trading activity on Wednesday. Stock traders bought 20,170 call options on the stock. This is an increase of approximately 1,392% compared to the average daily volume of 1,352 call options.

Institutional Trading of CytomX Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in CTMX. Seven Fleet Capital Management LP bought a new position in shares of CytomX Therapeutics in the fourth quarter worth about $208,000. Empowered Funds LLC bought a new position in CytomX Therapeutics in the 4th quarter worth about $133,000. XTX Topco Ltd increased its position in shares of CytomX Therapeutics by 63.9% during the fourth quarter. XTX Topco Ltd now owns 47,991 shares of the biotechnology company’s stock worth $204,000 after acquiring an additional 18,705 shares during the period. Virtus Investment Advisers LLC bought a new stake in shares of CytomX Therapeutics during the fourth quarter valued at approximately $270,000. Finally, Twinbeech Capital LP purchased a new stake in shares of CytomX Therapeutics in the fourth quarter valued at approximately $75,000. 67.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CTMX has been the topic of a number of 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 report on Tuesday, November 11th. Barclays upped their price objective on CytomX Therapeutics from $8.00 to $10.00 and gave the stock an “overweight” rating in a report on Wednesday, February 4th. Wedbush reiterated an “outperform” rating and set a $6.00 target price on shares of CytomX Therapeutics in a research report on Friday, November 7th. Cantor Fitzgerald boosted their price target on shares of CytomX Therapeutics from $6.00 to $10.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 4th. Finally, Wall Street Zen downgraded shares of CytomX Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Seven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, CytomX Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $9.00.

CytomX Therapeutics Stock Up 6.2%

CytomX Therapeutics stock traded up $0.30 during midday trading on Wednesday, reaching $5.11. The stock had a trading volume of 905,287 shares, compared to its average volume of 3,127,045. CytomX Therapeutics has a 52-week low of $0.40 and a 52-week high of $6.35. The company has a fifty day moving average of $5.10 and a 200 day moving average of $3.88. The firm has a market cap of $865.79 million, a price-to-earnings ratio of 12.78 and a beta of 2.44.

About CytomX Therapeutics

CytomX Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of next-generation therapeutics based on its proprietary Probody® platform. The company engineers masked antibody prodrugs that remain inactive in healthy tissue but are selectively activated in the tumor microenvironment. This approach is designed to enhance the safety and tolerability of antibody-based therapies, particularly those targeting immuno-oncology pathways.

At the core of CytomX’s pipeline is Pacmilimab (CX-072), an anti–PD-L1 Probody therapeutic currently undergoing clinical evaluation for multiple solid tumor indications.