CytomX Therapeutics (NASDAQ:CTMX) Stock Price Passes Above 200 Day Moving Average - Here's What Happened

CytomX Therapeutics, Inc. (NASDAQ:CTMX - Get Free Report) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $1.24 and traded as high as $2.54. CytomX Therapeutics shares last traded at $2.49, with a volume of 2,163,929 shares trading hands.

Analyst Ratings Changes

CTMX has been the subject of a number of recent analyst reports. Piper Sandler upped their price target on shares of CytomX Therapeutics from $2.50 to $5.00 and gave the company an "overweight" rating in a report on Thursday, May 15th. HC Wainwright upgraded shares of CytomX Therapeutics from a "neutral" rating to a "buy" rating and set a $5.00 price target for the company in a report on Thursday, May 15th. Wall Street Zen upgraded shares of CytomX Therapeutics from a "hold" rating to a "buy" rating in a report on Tuesday, May 13th. Finally, Wedbush reiterated an "outperform" rating and set a $6.00 price target (up from $5.00) on shares of CytomX Therapeutics in a report on Monday, May 12th.

CytomX Therapeutics Price Performance

The business has a 50 day moving average of $2.24 and a 200 day moving average of $1.27. The company has a market cap of $195.10 million, a PE ratio of 5.04 and a beta of 2.05.

CytomX Therapeutics (NASDAQ:CTMX - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The biotechnology company reported $0.27 EPS for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $35.42 million. During the same quarter last year, the firm posted $0.17 earnings per share. Sell-side analysts forecast that CytomX Therapeutics, Inc. will post -0.05 EPS for the current fiscal year.

Hedge Funds Weigh In On CytomX Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Algert Global LLC purchased a new position in CytomX Therapeutics during the fourth quarter valued at $35,000. Velan Capital Investment Management LP purchased a new position in CytomX Therapeutics during the fourth quarter valued at $36,000. Aspire Growth Partners LLC purchased a new position in CytomX Therapeutics during the fourth quarter valued at $42,000. Miller Financial Services LLC lifted its position in CytomX Therapeutics by 104.0% during the first quarter. Miller Financial Services LLC now owns 51,000 shares of the biotechnology company's stock valued at $32,000 after buying an additional 26,000 shares during the period. Finally, Goldman Sachs Group Inc. purchased a new position in CytomX Therapeutics during the first quarter valued at $39,000. Hedge funds and other institutional investors 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.