CytomX Therapeutics (NASDAQ:CTMX) Reaches New 1-Year Low – What’s Next?

CytomX Therapeutics, Inc. (NASDAQ:CTMX)’s stock price reached a new 52-week low during mid-day trading on Monday. The stock traded as low as $1.95 and last traded at $1.98, with a volume of 12,907,562 shares traded. The stock had previously closed at $2.19.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on CTMX shares. Weiss Ratings reissued a “sell (d)” rating on shares of CytomX Therapeutics in a research note on Friday, September 11th. Wall Street Zen raised CytomX Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday. Wedbush increased their target price on shares of CytomX Therapeutics from $11.00 to $12.00 and gave the stock an “outperform” rating in a research report on Friday. Cantor Fitzgerald restated an “overweight” rating on shares of CytomX Therapeutics in a report on Tuesday, October 13th. Finally, JPMorgan Chase & Co. lowered their price target on CytomX Therapeutics from $12.00 to $11.00 and set an “overweight” rating for the company in a report on Thursday, August 13th. 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. Based on data from MarketBeat, CytomX Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $12.00.

CytomX Therapeutics Price Performance

The stock has a fifty day simple moving average of $2.69 and a two-hundred day simple moving average of $3.80.

CytomX Therapeutics (NASDAQ:CTMX) last posted its quarterly earnings data on Thursday, November 5th. The biotechnology company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.02). The firm had revenue of $1.69 million for the quarter, compared to analysts’ expectations of $10.38 million. CytomX Therapeutics had a negative net margin of 435.21% and a negative return on equity of 38.46%. As a group, equities analysts forecast that CytomX Therapeutics, Inc. will post -0.40 earnings per share for the current year.

Institutional Investors Weigh In On CytomX Therapeutics

Large investors have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in CytomX Therapeutics during the 2nd quarter worth $65,849,000. Bank of America Corp DE acquired a new position in CytomX Therapeutics in the 2nd quarter worth $56,560,000. Perceptive Advisors LLC boosted its position in CytomX Therapeutics by 4.3% in the 1st quarter. Perceptive Advisors LLC now owns 10,098,824 shares of the biotechnology company’s stock valued at $47,464,000 after buying an additional 418,639 shares during the last quarter. Elmind Capital LP boosted its position in CytomX Therapeutics by 550.0% in the 1st quarter. Elmind Capital LP now owns 4,550,000 shares of the biotechnology company’s stock valued at $21,385,000 after buying an additional 3,850,000 shares during the last quarter. Finally, Wellington Management Group LLP boosted its position in CytomX Therapeutics by 44.3% in the 2nd quarter. Wellington Management Group LLP now owns 5,168,961 shares of the biotechnology company’s stock valued at $19,384,000 after buying an additional 1,585,976 shares during the last quarter. 67.77% of the stock is owned by institutional investors and hedge funds.

CytomX Therapeutics Company Profile

CytomX Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing cancer medicines designed to be activated selectively within the tumor microenvironment. The company’s approach is intended to improve the precision of treatment by limiting activity in healthy tissues while enabling therapeutic effects at tumor sites.

CytomX’s research is based on its Probody therapeutic platform, which uses molecular masking and tumor-associated protease activity to conditionally activate antibody-based medicines.