CytomX Therapeutics (NASDAQ:CTMX) Stock Price Down 3.8% - Should You Sell?

Key Points

• CytomX Therapeutics stock has fallen by 3.8%, trading at $3.16 after reaching a low of $3.12, with trading volume down by 65% compared to its average.
• Wall Street analysts have mixed views, with one Strong Buy rating, five Buy ratings, and a consensus price target of $5.42, while Weiss Ratings has a "sell (d+)" rating.
• Approximately 67.77% of CytomX shares are held by institutional investors, indicating strong institutional interest in the company.

CytomX Therapeutics, Inc. (NASDAQ:CTMX - Get Free Report)'s stock price dropped 3.8% on Friday . The stock traded as low as $3.12 and last traded at $3.16. Approximately 1,179,669 shares changed hands during trading, a decline of 65% from the average daily volume of 3,357,099 shares. The stock had previously closed at $3.28.

Wall Street Analyst Weigh In

CTMX has been the subject of several research reports. Oppenheimer initiated coverage on CytomX Therapeutics in a report on Thursday, July 31st. They set an "outperform" rating and a $7.00 price target for the company. Barclays began coverage on CytomX Therapeutics in a report on Wednesday, September 17th. They issued an "overweight" rating and a $3.50 price objective for the company. Cantor Fitzgerald assumed coverage on CytomX Therapeutics in a report on Monday, September 22nd. They issued an "overweight" rating and a $6.00 price objective for the company. Finally, Weiss Ratings reissued a "sell (d+)" rating on shares of CytomX Therapeutics in a report on Saturday, September 27th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, CytomX Therapeutics presently has a consensus rating of "Moderate Buy" and an average price target of $5.42.

CytomX Therapeutics Stock Performance

The stock has a market capitalization of $544.20 million, a P/E ratio of 5.89 and a beta of 2.27. The business has a fifty day simple moving average of $2.25 and a 200-day simple moving average of $1.86.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. increased its position in shares of CytomX Therapeutics by 18.6% during the first quarter. Assenagon Asset Management S.A. now owns 711,454 shares of the biotechnology company's stock worth $452,000 after acquiring an additional 111,604 shares in the last quarter. RA Capital Management L.P. purchased a new stake in shares of CytomX Therapeutics in the first quarter worth approximately $636,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of CytomX Therapeutics in the first quarter worth approximately $62,000. Velan Capital Investment Management LP raised its stake in shares of CytomX Therapeutics by 114.3% in the first quarter. Velan Capital Investment Management LP now owns 75,000 shares of the biotechnology company's stock worth $48,000 after purchasing an additional 40,000 shares during the last quarter. Finally, Miller Financial Services LLC raised its stake in shares of CytomX Therapeutics by 104.0% in the first quarter. Miller Financial Services LLC now owns 51,000 shares of the biotechnology company's stock worth $32,000 after purchasing an additional 26,000 shares during the last quarter. 67.77% of the stock is owned by institutional investors and hedge funds.

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.

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