CytomX Therapeutics (NASDAQ:CTMX) Stock Price Passes Above 200-Day Moving Average - Time to Sell?

CytomX Therapeutics, Inc. (NASDAQ:CTMX - Get Free Report)'s stock price passed 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 changing hands.

Analyst Ratings Changes

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

CytomX Therapeutics Price Performance

The firm's 50 day moving average is $2.17 and its 200 day moving average is $1.24. The firm has a market cap of $200.74 million, a P/E ratio of 5.19 and a beta of 2.05.

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 (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.09. The firm had revenue of $50.92 million during the quarter, compared to analyst estimates of $35.42 million. CytomX Therapeutics had a net margin of 28.22% and a negative return on equity of 553.71%. During the same period last year, the business earned $0.17 earnings per share. As a group, analysts expect that CytomX Therapeutics, Inc. will post -0.05 EPS for the current year.

Institutional Investors Weigh In On CytomX Therapeutics

Several hedge funds have recently added to or reduced their stakes in the stock. Northern Trust Corp raised its position in shares of CytomX Therapeutics by 16.0% in the 4th quarter. Northern Trust Corp now owns 150,632 shares of the biotechnology company's stock worth $155,000 after purchasing an additional 20,746 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its stake in CytomX Therapeutics by 1.5% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,547,215 shares of the biotechnology company's stock valued at $1,594,000 after purchasing an additional 23,139 shares in the last quarter. Miller Financial Services LLC purchased a new position in CytomX Therapeutics in the fourth quarter worth about $26,000. Prudential Financial Inc. lifted its stake in shares of CytomX Therapeutics by 76.2% in the fourth quarter. Prudential Financial Inc. now owns 64,300 shares of the biotechnology company's stock worth $66,000 after buying an additional 27,800 shares in the last quarter. Finally, Algert Global LLC purchased a new stake in shares of CytomX Therapeutics during the fourth quarter valued at approximately $35,000. 67.77% of the stock is owned by institutional investors.

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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