CytomX Therapeutics, Inc. (NASDAQ:CTMX – Get Rating) was the target of a large drop in short interest in December. As of December 30th, there was short interest totalling 528,400 shares, a drop of 64.1% from the December 15th total of 1,470,000 shares. Based on an average daily volume of 2,610,000 shares, the short-interest ratio is currently 0.2 days. Approximately 0.8% of the company’s stock are short sold.
CytomX Therapeutics Stock Down 6.6 %
Shares of CytomX Therapeutics stock opened at $2.67 on Wednesday. The firm has a market cap of $176.44 million, a P/E ratio of -1.79 and a beta of 0.48. CytomX Therapeutics has a fifty-two week low of $1.17 and a fifty-two week high of $4.73. The business has a 50-day moving average price of $1.77 and a 200 day moving average price of $1.59.
CytomX Therapeutics (NASDAQ:CTMX – Get Rating) last announced its quarterly earnings data on Tuesday, November 8th. The biotechnology company reported ($0.35) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($0.03). The firm had revenue of $16.92 million during the quarter, compared to the consensus estimate of $18.63 million. CytomX Therapeutics had a negative net margin of 135.65% and a negative return on equity of 166.29%. As a group, equities research analysts anticipate that CytomX Therapeutics will post -1.26 earnings per share for the current year.
Hedge Funds Weigh In On CytomX Therapeutics
Several institutional investors have recently made changes to their positions in the stock. BVF Inc. IL grew its holdings in shares of CytomX Therapeutics by 13.6% during the third quarter. BVF Inc. IL now owns 6,595,801 shares of the biotechnology company’s stock valued at $9,564,000 after purchasing an additional 792,101 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of CytomX Therapeutics by 2.2% during the first quarter. Vanguard Group Inc. now owns 5,222,886 shares of the biotechnology company’s stock worth $13,945,000 after buying an additional 114,895 shares during the period. BlackRock Inc. boosted its position in shares of CytomX Therapeutics by 0.6% during the first quarter. BlackRock Inc. now owns 4,992,094 shares of the biotechnology company’s stock worth $13,328,000 after buying an additional 29,732 shares during the period. Tang Capital Management LLC boosted its position in shares of CytomX Therapeutics by 231.9% during the third quarter. Tang Capital Management LLC now owns 3,500,000 shares of the biotechnology company’s stock worth $5,075,000 after buying an additional 2,445,327 shares during the period. Finally, Renaissance Technologies LLC boosted its position in shares of CytomX Therapeutics by 24.2% during the third quarter. Renaissance Technologies LLC now owns 1,805,600 shares of the biotechnology company’s stock worth $2,618,000 after buying an additional 351,339 shares during the period. 70.14% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of research firms recently weighed in on CTMX. StockNews.com raised shares of CytomX Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, November 19th. BMO Capital Markets raised their price target on shares of CytomX Therapeutics from $2.60 to $3.20 and gave the company a “market perform” rating in a report on Friday, January 6th. Wedbush reaffirmed a “neutral” rating and set a $2.00 price target on shares of CytomX Therapeutics in a report on Wednesday, November 9th. Finally, JPMorgan Chase & Co. lowered shares of CytomX Therapeutics from an “overweight” rating to an “underweight” rating in a report on Thursday, November 10th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $4.91.
About CytomX Therapeutics
CytomX Therapeutics, Inc operates as an oncology-focused biopharmaceutical company in the United States. The company develops antibody therapeutics based on its Probody technology platform for the treatment of cancer. The company’s product candidates include CX-2009, an antibody drug conjugates (ADC) against CD166, which is in Phase II clinical trials for the treatment of breast cancer; CX-2029 that is in Phase II clinical trials for the treatment of squamous non-small cell lung cancer, head and neck squamous cell carcinoma, esophageal and gastro-esophageal junction cancers, and diffuse large B-cell lymphoma; BMS-986249, a CTLA-4 Probody therapeutic drug, which is in Phase I/II clinical trials for the treatment of metastatic melanoma; and BMS-986288, an anti-CTLA-4 Probody drug, which is in Phase I clinical trials for the treatment of solid tumors.