CytomX Therapeutics (NASDAQ:CTMX) Stock Crosses Below Fifty Day Moving Average - Should You Sell?

Key Points

• CytomX Therapeutics shares have fallen below their 50-day moving average, currently trading at $2.19 compared to a moving average of $2.41.
• Analysts are optimistic about the company, with several raising their price targets, including Oppenheimer setting a target of $7.00 and HC Wainwright increasing their target to $5.00.
• The company reported earnings of $0.27 per share for the last quarter, exceeding estimates and reflecting a substantial revenue increase from $35.42 million to $50.92 million.

CytomX Therapeutics, Inc. (NASDAQ:CTMX - Get Free Report) passed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $2.41 and traded as low as $2.19. CytomX Therapeutics shares last traded at $2.19, with a volume of 1,533,692 shares.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Piper Sandler boosted their price objective on CytomX Therapeutics from $2.50 to $5.00 and gave the stock an "overweight" rating in a report on Thursday, May 15th. Wall Street Zen upgraded CytomX Therapeutics from a "hold" rating to a "buy" rating in a report on Tuesday, May 13th. HC Wainwright upgraded CytomX Therapeutics from a "neutral" rating to a "buy" rating and set a $5.00 price objective on the stock in a report on Thursday, May 15th. Wedbush restated an "outperform" rating and set a $6.00 price objective (up previously from $5.00) on shares of CytomX Therapeutics in a report on Monday, May 12th. Finally, Oppenheimer started coverage on CytomX Therapeutics in a report on Thursday, July 31st. They set an "outperform" rating and a $7.00 price objective on the stock. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, CytomX Therapeutics presently has an average rating of "Buy" and a consensus target price of $5.75.

CytomX Therapeutics Stock Performance

The company has a 50 day simple moving average of $2.42 and a two-hundred day simple moving average of $1.42. The company has a market cap of $192.28 million, a PE ratio of 4.97 and a beta of 2.13.

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

Institutional Investors Weigh In On CytomX Therapeutics

Several large investors have recently made changes to their positions in the company. Vanguard Personalized Indexing Management LLC grew its stake in shares of CytomX Therapeutics by 63.6% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 28,966 shares of the biotechnology company's stock valued at $66,000 after buying an additional 11,258 shares in the last quarter. 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. Goldman Sachs Group Inc. acquired a new stake in CytomX Therapeutics in the 1st quarter worth approximately $39,000. Acadian Asset Management LLC lifted its holdings in CytomX Therapeutics by 3.1% in the 1st quarter. Acadian Asset Management LLC now owns 3,234,035 shares of the biotechnology company's stock worth $2,053,000 after purchasing an additional 96,989 shares during the last quarter. Finally, Woodline Partners LP acquired a new stake in CytomX Therapeutics in the 1st quarter worth approximately $1,054,000. Institutional investors own 67.77% of the company's stock.

CytomX Therapeutics Company Profile

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.