Tang Capital Management LLC Decreases Stock Position in CytomX Therapeutics, Inc. (NASDAQ:CTMX)

Tang Capital Management LLC decreased its holdings in CytomX Therapeutics, Inc. (NASDAQ:CTMX - Free Report) by 6.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,311,760 shares of the biotechnology company's stock after selling 500,000 shares during the quarter. Tang Capital Management LLC owned 9.34% of CytomX Therapeutics worth $7,531,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Northern Trust Corp raised its stake in shares of CytomX Therapeutics by 16.0% during 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 period. Jacobs Levy Equity Management Inc. raised its stake in shares of 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 worth $1,594,000 after purchasing an additional 23,139 shares during the period. Miller Financial Services LLC bought a new stake in shares of CytomX Therapeutics during the 4th quarter worth $26,000. Prudential Financial Inc. raised its stake in shares of CytomX Therapeutics by 76.2% during the 4th quarter. Prudential Financial Inc. now owns 64,300 shares of the biotechnology company's stock worth $66,000 after purchasing an additional 27,800 shares during the period. Finally, Traphagen Investment Advisors LLC purchased a new stake in shares of CytomX Therapeutics during the 4th quarter worth approximately $31,000. Institutional investors own 67.77% of the company's stock.

CytomX Therapeutics Trading Down 1.0%

Shares of CTMX traded down $0.02 during mid-day trading on Wednesday, reaching $2.04. 2,791,030 shares of the stock traded hands, compared to its average volume of 2,099,880. The firm has a fifty day moving average price of $0.88 and a 200 day moving average price of $0.91. The company has a market cap of $164.47 million, a price-to-earnings ratio of 12.00 and a beta of 1.11. CytomX Therapeutics, Inc. has a 1 year low of $0.40 and a 1 year high of $2.55.

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 (EPS) 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 company had revenue of $50.92 million during the quarter, compared to the consensus estimate of $35.42 million. During the same period in the previous year, the firm posted $0.17 EPS. On average, sell-side analysts anticipate that CytomX Therapeutics, Inc. will post -0.05 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CTMX. Piper Sandler raised their price target on shares of CytomX Therapeutics from $2.50 to $5.00 and gave the stock an "overweight" rating in a research note on Thursday, May 15th. Wedbush restated an "outperform" rating and set a $6.00 price target (up previously from $5.00) on shares of CytomX Therapeutics in a research note on Monday, May 12th. StockNews.com upgraded shares of CytomX Therapeutics from a "hold" rating to a "buy" rating in a research note on Tuesday, May 13th. Finally, 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 note on Thursday, May 15th.

CytomX Therapeutics 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.