Formidable Asset Management LLC Grows Stock Holdings in CytomX Therapeutics, Inc. (NASDAQ:CTMX)

Formidable Asset Management LLC boosted its holdings in shares of CytomX Therapeutics, Inc. (NASDAQ:CTMX - Free Report) by 55.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 382,529 shares of the biotechnology company's stock after buying an additional 136,528 shares during the quarter. Formidable Asset Management LLC owned approximately 0.49% of CytomX Therapeutics worth $394,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Miller Financial Services LLC purchased a new position in shares of CytomX Therapeutics during the 4th quarter valued at about $26,000. Monimus Capital Management LP bought a new stake in CytomX Therapeutics during the 4th quarter worth approximately $375,000. Prudential Financial Inc. lifted its holdings in CytomX Therapeutics by 76.2% during the fourth quarter. Prudential Financial Inc. now owns 64,300 shares of the biotechnology company's stock valued at $66,000 after purchasing an additional 27,800 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of CytomX Therapeutics by 288,736.3% in the fourth quarter. JPMorgan Chase & Co. now owns 811,630 shares of the biotechnology company's stock worth $836,000 after purchasing an additional 811,349 shares during the period. Finally, Renaissance Technologies LLC boosted its position in shares of CytomX Therapeutics by 32.7% in the fourth quarter. Renaissance Technologies LLC now owns 1,346,800 shares of the biotechnology company's stock worth $1,387,000 after purchasing an additional 331,800 shares during the period. 67.77% of the stock is owned by hedge funds and other institutional investors.

CytomX Therapeutics Stock Down 1.6%

NASDAQ CTMX traded down $0.04 on Friday, reaching $2.48. The company had a trading volume of 1,435,391 shares, compared to its average volume of 2,139,738. The stock has a market capitalization of $199.94 million, a PE ratio of 14.60 and a beta of 1.11. CytomX Therapeutics, Inc. has a 12 month low of $0.40 and a 12 month high of $2.64. The firm's 50 day moving average price is $1.10 and its 200 day moving average price is $0.97.

CytomX Therapeutics (NASDAQ:CTMX - Get Free Report) last posted its 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. The company had revenue of $50.92 million for the quarter, compared to the consensus estimate of $35.42 million. CytomX Therapeutics had a negative return on equity of 41.47% and a net margin of 10.96%. During the same period in the previous year, the business earned $0.17 earnings per share. On average, research analysts expect that CytomX Therapeutics, Inc. will post -0.05 EPS for the current year.

Wall Street Analysts Forecast Growth

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

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.