Point72 Asset Management L.P. Invests $2.73 Million in CytomX Therapeutics, Inc. (NASDAQ:CTMX)

Point72 Asset Management L.P. acquired a new position in shares of CytomX Therapeutics, Inc. (NASDAQ:CTMX - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 2,650,000 shares of the biotechnology company's stock, valued at approximately $2,730,000. Point72 Asset Management L.P. owned 3.39% of CytomX Therapeutics at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in CTMX. Prosight Management LP lifted its holdings in shares of CytomX Therapeutics by 29.2% during the 4th quarter. Prosight Management LP now owns 3,905,000 shares of the biotechnology company's stock worth $4,022,000 after acquiring an additional 882,891 shares during the period. JPMorgan Chase & Co. raised its position in CytomX Therapeutics by 288,736.3% during the fourth quarter. JPMorgan Chase & Co. now owns 811,630 shares of the biotechnology company's stock valued at $836,000 after purchasing an additional 811,349 shares in the last quarter. Millennium Management LLC lifted its stake in CytomX Therapeutics by 25.8% during the fourth quarter. Millennium Management LLC now owns 3,221,012 shares of the biotechnology company's stock worth $3,318,000 after purchasing an additional 660,756 shares during the last quarter. Monimus Capital Management LP acquired a new stake in shares of CytomX Therapeutics in the 4th quarter valued at $375,000. Finally, Renaissance Technologies LLC increased its stake in shares of CytomX Therapeutics by 32.7% in the 4th quarter. Renaissance Technologies LLC now owns 1,346,800 shares of the biotechnology company's stock valued at $1,387,000 after purchasing an additional 331,800 shares during the last quarter. Institutional investors own 67.77% of the company's stock.

Analyst Upgrades and Downgrades

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

CytomX Therapeutics Stock Performance

Shares of CytomX Therapeutics stock traded up $0.10 on Monday, hitting $2.23. The stock had a trading volume of 3,083,306 shares, compared to its average volume of 2,120,652. The stock has a 50 day moving average of $0.97 and a 200 day moving average of $0.93. The firm has a market capitalization of $179.78 million, a P/E ratio of 13.12 and a beta of 1.11. CytomX Therapeutics, Inc. has a twelve month low of $0.40 and a twelve month high of $2.55.

CytomX Therapeutics (NASDAQ:CTMX - Get Free Report) last posted its earnings results on Monday, May 12th. The biotechnology company reported $0.27 earnings per share for the quarter, topping analysts' consensus estimates of $0.18 by $0.09. CytomX Therapeutics had a net margin of 10.96% and a negative return on equity of 41.47%. The firm had revenue of $50.92 million for the quarter, compared to analyst estimates of $35.42 million. During the same period in the previous year, the firm posted $0.17 EPS. Equities analysts expect that CytomX Therapeutics, Inc. will post -0.05 earnings per share for the current year.

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.