CytomX Therapeutics, Inc. (NASDAQ:CTMX) Sees Significant Decline in Short Interest

CytomX Therapeutics, Inc. (NASDAQ:CTMX) saw a large decrease in short interest during the month of August. As of August 31st, there was short interest totalling 7,150,000 shares, a decrease of 9.1% from the August 15th total of 7,870,000 shares. Based on an average daily trading volume, of 1,100,000 shares, the short-interest ratio is currently 6.5 days.

Institutional Investors Weigh In On CytomX Therapeutics

Institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC acquired a new stake in shares of CytomX Therapeutics during the 1st quarter valued at $57,000. Susquehanna Fundamental Investments LLC acquired a new stake in shares of CytomX Therapeutics during the 1st quarter valued at $124,000. XTX Topco Ltd boosted its stake in shares of CytomX Therapeutics by 382.6% during the 2nd quarter. XTX Topco Ltd now owns 60,586 shares of the biotechnology company’s stock valued at $74,000 after buying an additional 48,033 shares during the period. Forefront Analytics LLC boosted its stake in shares of CytomX Therapeutics by 206.7% during the 2nd quarter. Forefront Analytics LLC now owns 64,065 shares of the biotechnology company’s stock valued at $78,000 after buying an additional 43,176 shares during the period. Finally, Cubist Systematic Strategies LLC boosted its stake in shares of CytomX Therapeutics by 96.6% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 82,054 shares of the biotechnology company’s stock valued at $100,000 after buying an additional 40,309 shares during the period. Institutional investors and hedge funds own 67.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CTMX. HC Wainwright restated a “neutral” rating on shares of CytomX Therapeutics in a research note on Friday, September 13th. Piper Sandler upgraded shares of CytomX Therapeutics from a “neutral” rating to an “overweight” rating and upped their target price for the company from $2.25 to $3.50 in a research note on Tuesday, May 28th. Finally, StockNews.com lowered shares of CytomX Therapeutics from a “buy” rating to a “hold” rating in a research note on Monday, June 17th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $5.77.

CytomX Therapeutics Stock Down 1.7 %

CytomX Therapeutics stock traded down $0.02 during mid-day trading on Wednesday, hitting $1.19. The company’s stock had a trading volume of 851,194 shares, compared to its average volume of 2,912,922. CytomX Therapeutics has a twelve month low of $1.04 and a twelve month high of $5.85. The stock has a market capitalization of $92.72 million, a P/E ratio of 5.95 and a beta of 1.03. The stock’s fifty day moving average price is $1.28 and its two-hundred day moving average price is $1.74.

CytomX Therapeutics (NASDAQ:CTMX) last posted its quarterly earnings data on Thursday, August 8th. The biotechnology company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.01). CytomX Therapeutics had a negative return on equity of 27.44% and a net margin of 9.27%. The firm had revenue of $25.12 million for the quarter, compared to analysts’ expectations of $21.79 million. During the same quarter in the previous year, the firm posted ($0.02) earnings per share. Equities analysts expect that CytomX Therapeutics will post -0.2 earnings per share for the current year.

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.