CytomX Therapeutics (NASDAQ:CTMX) Shares Up 7% - What's Next?

Key Points

• CytomX Therapeutics shares rose 7% to about $2.39, though trading volume was roughly 89% below the stock’s average daily volume.
• Analyst sentiment is mixed but leans positive: the stock has a “Moderate Buy” consensus rating and an average price target of $11.90, despite some recent target reductions and sell ratings.
• The company reported a quarterly EPS loss of $0.09 versus an expected loss of $0.08, while revenue of $1.42 million fell well short of the $12.39 million consensus estimate; institutional investors own 67.77% of the shares.

CytomX Therapeutics, Inc. (NASDAQ:CTMX - Get Free Report) shares were up 7% during trading on Thursday. The stock traded as high as $2.40 and last traded at $2.3850. Approximately 500,549 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 4,693,170 shares. The stock had previously closed at $2.23.

Wall Street Analyst Weigh In

Several research analysts have issued reports on CTMX shares. Cantor Fitzgerald restated an "overweight" rating on shares of CytomX Therapeutics in a research report on Tuesday. Guggenheim lowered their price objective on CytomX Therapeutics from $15.00 to $14.00 and set a "buy" rating for the company in a research report on Monday, August 10th. JPMorgan Chase & Co. decreased their target price on shares of CytomX Therapeutics from $12.00 to $11.00 and set an "overweight" rating on the stock in a research report on Thursday, August 13th. Weiss Ratings restated a "sell (d)" rating on shares of CytomX Therapeutics in a report on Friday, September 11th. Finally, Wall Street Zen lowered shares of CytomX Therapeutics from a "hold" rating to a "sell" rating in a research note on Sunday, August 23rd. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $11.90.

CytomX Therapeutics Price Performance

The business's fifty day moving average price is $3.09 and its 200-day moving average price is $3.52. The stock has a market capitalization of $519.69 million, a PE ratio of -4.77 and a beta of 2.21.

CytomX Therapeutics (NASDAQ:CTMX - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The biotechnology company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.01). The company had revenue of $1.42 million during the quarter, compared to analysts' expectations of $12.39 million. CytomX Therapeutics had a negative return on equity of 38.46% and a negative net margin of 435.21%. On average, analysts expect that CytomX Therapeutics, Inc. will post -0.40 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Engineers Gate Manager LP raised its position in shares of CytomX Therapeutics by 182.0% during the 2nd quarter. Engineers Gate Manager LP now owns 83,130 shares of the biotechnology company's stock worth $312,000 after purchasing an additional 53,653 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new stake in shares of CytomX Therapeutics during the 2nd quarter worth $47,000. Pale Fire Capital SE acquired a new stake in CytomX Therapeutics in the second quarter valued at $86,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of CytomX Therapeutics by 16.0% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 219,779 shares of the biotechnology company's stock valued at $824,000 after purchasing an additional 30,379 shares in the last quarter. Finally, Hsbc Holdings PLC purchased a new position in shares of CytomX Therapeutics during the 2nd quarter worth $103,000. Institutional investors own 67.77% of the company's stock.

About CytomX Therapeutics

CytomX Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing antibody-based medicines for cancer and other serious diseases. The company's technology is designed to keep therapeutic antibodies inactive in healthy tissue and activate them in disease sites, particularly within the tumor microenvironment, with the goal of improving treatment precision and reducing systemic toxicity.

CytomX's Probody Therapeutics platform uses conditionally activated antibodies and related molecules.

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