CytomX Therapeutics (NASDAQ:CTMX) Stock Price Crosses Below 50-Day Moving Average - Here's What Happened

Key Points

• CytomX shares crossed below their 50-day moving average, trading as low as $4.43 and last at $4.45 versus a 50-day MA of $4.86 (200-day MA $4.47), on volume of about 3.36 million shares.
• Analysts remain broadly bullish despite the dip, with multiple firms raising targets (range roughly $11–$16) and a consensus rating of "Moderate Buy" and a consensus price target of $13.44.
• The company posted a significant quarter miss—EPS of -$0.22 vs. -$0.08 expected and revenue $0.66M vs. $7.33M expected—and insiders have sold shares recently (191,063 shares sold in the last three months).

CytomX Therapeutics, Inc. (NASDAQ:CTMX - Get Free Report) shares crossed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $4.86 and traded as low as $4.43. CytomX Therapeutics shares last traded at $4.45, with a volume of 3,356,973 shares changing hands.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CTMX. Piper Sandler lifted their target price on CytomX Therapeutics from $10.00 to $12.00 and gave the stock an "overweight" rating in a report on Monday, March 23rd. Wedbush increased their price target on CytomX Therapeutics from $6.00 to $11.00 and gave the company an "outperform" rating in a research note on Tuesday, March 17th. Jefferies Financial Group raised their price target on CytomX Therapeutics from $8.00 to $16.00 and gave the company a "buy" rating in a report on Wednesday, March 18th. Barclays lifted their price objective on CytomX Therapeutics from $10.00 to $16.00 and gave the stock an "overweight" rating in a research note on Thursday, March 19th. Finally, Oppenheimer reiterated an "outperform" rating and set a $12.00 target price on shares of CytomX Therapeutics in a research report on Monday, March 16th. Nine research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $13.44.

CytomX Therapeutics Price Performance

The business has a 50-day simple moving average of $4.86 and a 200-day simple moving average of $4.47. The firm has a market capitalization of $757.35 million, a PE ratio of -111.25 and a beta of 2.49.

CytomX Therapeutics (NASDAQ:CTMX - Get Free Report) last posted its quarterly earnings data on Monday, March 16th. The biotechnology company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.14). The company had revenue of $0.66 million during the quarter, compared to the consensus estimate of $7.33 million. CytomX Therapeutics had a negative net margin of 22.79% and a negative return on equity of 19.77%. On average, research analysts expect that CytomX Therapeutics, Inc. will post -0.56 earnings per share for the current year.

Insider Buying and Selling

In other CytomX Therapeutics news, CFO Christopher Ogden sold 19,323 shares of CytomX Therapeutics stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $6.42, for a total transaction of $124,053.66. Following the completion of the transaction, the chief financial officer directly owned 296,948 shares of the company's stock, valued at $1,906,406.16. The trade was a 6.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sean A. Mccarthy sold 118,969 shares of the stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $6.42, for a total transaction of $763,780.98. Following the completion of the sale, the chief executive officer directly owned 1,078,922 shares in the company, valued at approximately $6,926,679.24. This represents a 9.93% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 191,063 shares of company stock valued at $1,226,624 in the last three months. Corporate insiders own 6.60% of the company's stock.

Institutional Trading of CytomX Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Orbimed Advisors LLC purchased a new position in shares of CytomX Therapeutics during the second quarter valued at approximately $19,208,000. Commodore Capital LP bought a new position in shares of CytomX Therapeutics during the second quarter valued at approximately $17,462,000. Perceptive Advisors LLC purchased a new stake in shares of CytomX Therapeutics in the second quarter worth approximately $15,876,000. State Street Corp lifted its stake in shares of CytomX Therapeutics by 697.1% during the 4th quarter. State Street Corp now owns 5,140,931 shares of the biotechnology company's stock worth $21,900,000 after acquiring an additional 4,495,949 shares during the last quarter. Finally, Baker BROS. Advisors LP lifted its stake in shares of CytomX Therapeutics by 22.0% during the 3rd quarter. Baker BROS. Advisors LP now owns 4,250,826 shares of the biotechnology company's stock worth $13,560,000 after acquiring an additional 766,600 shares during the last quarter. 67.77% of the stock is owned by hedge funds and other institutional investors.

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.

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