CytomX Therapeutics (NASDAQ:CTMX) Share Price Crosses Above 50-Day Moving Average - Should You Sell?

CytomX Therapeutics, Inc. (NASDAQ:CTMX - Get Free Report) shares crossed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $1.90 and traded as high as $2.44. CytomX Therapeutics shares last traded at $2.25, with a volume of 2,535,785 shares traded.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on CTMX shares. Wall Street Zen upgraded CytomX Therapeutics from a "hold" rating to a "buy" rating in a report on Tuesday, May 13th. HC Wainwright raised CytomX Therapeutics from a "neutral" rating to a "buy" rating and set a $5.00 target price for the company in a research report on Thursday, May 15th. Wedbush reiterated an "outperform" rating and set a $6.00 price target (up from $5.00) on shares of CytomX Therapeutics in a research note on Monday, May 12th. Finally, Piper Sandler increased their price target on shares of CytomX Therapeutics from $2.50 to $5.00 and gave the stock an "overweight" rating in a research report on Thursday, May 15th.

CytomX Therapeutics Stock Performance

The company's 50-day simple moving average is $1.96 and its 200 day simple moving average is $1.19. The company has a market cap of $190.26 million, a PE ratio of 4.92 and a beta of 2.05.

CytomX Therapeutics (NASDAQ:CTMX - Get Free Report) last announced its quarterly earnings data on Monday, May 12th. The biotechnology company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.09. The business had revenue of $50.92 million for the quarter, compared to analysts' expectations of $35.42 million. CytomX Therapeutics had a negative return on equity of 553.71% and a net margin of 28.22%. During the same period last year, the firm earned $0.17 earnings per share. Analysts forecast that CytomX Therapeutics, Inc. will post -0.05 EPS for the current year.

Institutional Investors Weigh In On CytomX Therapeutics

A number of hedge funds have recently bought and sold shares of CTMX. Prosight Management LP grew its position in shares of CytomX Therapeutics by 29.2% during the fourth quarter. Prosight Management LP now owns 3,905,000 shares of the biotechnology company's stock worth $4,022,000 after buying an additional 882,891 shares in the last quarter. Acadian Asset Management LLC lifted its stake in CytomX Therapeutics by 3.1% in the first quarter. Acadian Asset Management LLC now owns 3,234,035 shares of the biotechnology company's stock worth $2,053,000 after acquiring an additional 96,989 shares during the last quarter. Millennium Management LLC lifted its stake in CytomX Therapeutics by 25.8% in the fourth quarter. Millennium Management LLC now owns 3,221,012 shares of the biotechnology company's stock worth $3,318,000 after acquiring an additional 660,756 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in CytomX Therapeutics during the 4th quarter worth approximately $2,730,000. Finally, Woodline Partners LP purchased a new stake in shares of CytomX Therapeutics in the 1st quarter valued at approximately $1,054,000. 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.