CytomX Therapeutics (NASDAQ:CTMX) Shares Down 5.3% – Here’s Why

Shares of CytomX Therapeutics, Inc. (NASDAQ:CTMX) dropped 5.3% on Wednesday . The company traded as low as $5.13 and last traded at $5.0850. Approximately 805,958 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 3,147,521 shares. The stock had previously closed at $5.37.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Wedbush reiterated an “outperform” rating and issued a $6.00 price target on shares of CytomX Therapeutics in a report on Friday, November 7th. Barclays lifted their price objective on CytomX Therapeutics from $6.00 to $8.00 and gave the company an “overweight” rating in a research note on Tuesday. Wall Street Zen downgraded CytomX Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Piper Sandler lifted their price target on CytomX Therapeutics from $6.50 to $10.00 and gave the company an “overweight” rating in a research report on Tuesday. Finally, HC Wainwright upped their price objective on CytomX Therapeutics from $5.00 to $10.00 and gave the stock a “buy” rating in a research report on Tuesday, November 11th. Seven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $8.14.

CytomX Therapeutics Trading Down 1.5%

The stock has a market cap of $896.31 million, a price-to-earnings ratio of 13.23 and a beta of 2.42. The firm’s 50-day moving average is $4.17 and its two-hundred day moving average is $3.19.

CytomX Therapeutics (NASDAQ:CTMX) last posted its quarterly earnings data on Thursday, November 6th. The biotechnology company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.05). The firm had revenue of $5.96 million for the quarter, compared to analysts’ expectations of $11.50 million. CytomX Therapeutics had a return on equity of 44.49% and a net margin of 24.66%. On average, analysts predict that CytomX Therapeutics, Inc. will post -0.05 earnings per share for the current year.

Institutional Investors Weigh In On CytomX Therapeutics

A number of large investors have recently modified their holdings of CTMX. Orbimed Advisors LLC purchased a new position in shares of CytomX Therapeutics in the second quarter worth about $19,208,000. Commodore Capital LP acquired a new position in shares of CytomX Therapeutics during the 2nd quarter worth approximately $17,462,000. Perceptive Advisors LLC purchased a new stake in shares of CytomX Therapeutics in the second quarter valued at approximately $15,876,000. Franklin Resources Inc. purchased a new position in CytomX Therapeutics during the second quarter worth approximately $13,096,000. Finally, Vivo Capital LLC acquired a new position in CytomX Therapeutics during the second quarter worth $13,096,000. Hedge funds and other institutional investors own 67.77% of the company’s stock.

CytomX Therapeutics Company Profile

CytomX Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of next-generation therapeutics based on its proprietary Probody® platform. The company engineers masked antibody prodrugs that remain inactive in healthy tissue but are selectively activated in the tumor microenvironment. This approach is designed to enhance the safety and tolerability of antibody-based therapies, particularly those targeting immuno-oncology pathways.

At the core of CytomX’s pipeline is Pacmilimab (CX-072), an anti–PD-L1 Probody therapeutic currently undergoing clinical evaluation for multiple solid tumor indications.