Millennium Management LLC Acquires 660,756 Shares of CytomX Therapeutics, Inc. (NASDAQ:CTMX)

Millennium Management LLC increased its stake in CytomX Therapeutics, Inc. (NASDAQ:CTMX - Free Report) by 25.8% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 3,221,012 shares of the biotechnology company's stock after buying an additional 660,756 shares during the quarter. Millennium Management LLC owned 4.12% of CytomX Therapeutics worth $3,318,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Miller Financial Services LLC bought a new stake in CytomX Therapeutics in the 4th quarter valued at about $26,000. Algert Global LLC bought a new stake in shares of CytomX Therapeutics during the fourth quarter valued at about $35,000. Aspire Growth Partners LLC bought a new stake in shares of CytomX Therapeutics during the fourth quarter valued at about $42,000. Prudential Financial Inc. increased its position in shares of 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 buying an additional 27,800 shares during the period. Finally, Cubist Systematic Strategies LLC increased its position in shares of CytomX Therapeutics by 302.2% during the fourth quarter. Cubist Systematic Strategies LLC now owns 98,383 shares of the biotechnology company's stock valued at $101,000 after buying an additional 73,923 shares during the period. 67.77% of the stock is currently owned by institutional investors.

CytomX Therapeutics Stock Down 5.3%

Shares of CTMX stock traded down $0.14 during trading on Wednesday, hitting $2.51. The company had a trading volume of 2,114,587 shares, compared to its average volume of 2,162,954. The stock's 50-day moving average is $1.26 and its two-hundred day moving average is $1.01. The stock has a market capitalization of $202.36 million, a price-to-earnings ratio of 14.76 and a beta of 1.11. CytomX Therapeutics, Inc. has a 52 week low of $0.40 and a 52 week high of $2.82.

CytomX Therapeutics (NASDAQ:CTMX - Get Free Report) last posted its quarterly earnings data on Monday, May 12th. The biotechnology company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.09. The company had revenue of $50.92 million for the quarter, compared to analysts' expectations of $35.42 million. CytomX Therapeutics had a net margin of 10.96% and a negative return on equity of 41.47%. During the same period in the prior year, the business earned $0.17 earnings per share. On average, research analysts predict that CytomX Therapeutics, Inc. will post -0.05 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.