Prosight Management LP Grows Stock Position in CytomX Therapeutics, Inc. (NASDAQ:CTMX)

Prosight Management LP lifted its holdings in CytomX Therapeutics, Inc. (NASDAQ:CTMX - Free Report) by 29.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,905,000 shares of the biotechnology company's stock after acquiring an additional 882,891 shares during the period. CytomX Therapeutics accounts for about 1.1% of Prosight Management LP's portfolio, making the stock its 22nd biggest holding. Prosight Management LP owned approximately 4.99% of CytomX Therapeutics worth $4,022,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Traphagen Investment Advisors LLC purchased a new position in CytomX Therapeutics during the 4th quarter valued at approximately $31,000. Miller Financial Services LLC bought a new stake in CytomX Therapeutics in the fourth quarter worth $26,000. Monimus Capital Management LP bought a new position in CytomX Therapeutics during the fourth quarter valued at $375,000. Prudential Financial Inc. lifted its holdings in shares of CytomX Therapeutics by 76.2% in the 4th quarter. Prudential Financial Inc. now owns 64,300 shares of the biotechnology company's stock worth $66,000 after acquiring an additional 27,800 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in 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 last quarter. 67.77% of the stock is currently owned by institutional investors.

CytomX Therapeutics Trading Down 2.1%

NASDAQ:CTMX traded down $0.05 during midday trading on Tuesday, reaching $2.09. The company had a trading volume of 4,055,743 shares, compared to its average volume of 3,584,705. CytomX Therapeutics, Inc. has a 12-month low of $0.40 and a 12-month high of $2.55. The firm has a market capitalization of $168.09 million, a price-to-earnings ratio of 12.26 and a beta of 1.11. The stock's fifty day simple moving average is $0.85 and its 200-day simple moving average is $0.90.

CytomX Therapeutics (NASDAQ:CTMX - Get Free Report) last posted its quarterly earnings results on Monday, May 12th. The biotechnology company reported $0.27 EPS for the quarter, topping the consensus estimate 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 analysts' expectations of $35.42 million. During the same quarter in the previous year, the business posted $0.17 EPS. As a group, sell-side analysts expect that CytomX Therapeutics, Inc. will post -0.05 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have issued reports on CTMX. StockNews.com raised shares of CytomX Therapeutics from a "hold" rating to a "buy" rating in a research report on Tuesday, May 13th. Wedbush reiterated an "outperform" rating and issued a $6.00 target price (up previously from $5.00) on shares of CytomX Therapeutics in a research report on Monday, May 12th. Piper Sandler lifted 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. Finally, HC Wainwright upgraded shares of 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.

CytomX Therapeutics Company 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.