CytomX Therapeutics (NASDAQ:CTMX) Shares Cross Below Fifty Day Moving Average – Here’s Why

CytomX Therapeutics, Inc. (NASDAQ:CTMX) shares passed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $1.14 and traded as low as $1.06. CytomX Therapeutics shares last traded at $1.09, with a volume of 2,910,989 shares changing hands.

Analyst Ratings Changes

Separately, HC Wainwright restated a “neutral” rating on shares of CytomX Therapeutics in a report on Friday, September 13th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $5.77.

CytomX Therapeutics Price Performance

The firm has a market cap of $85.15 million, a P/E ratio of 6.41 and a beta of 1.06. The stock’s 50-day moving average price is $1.14 and its 200 day moving average price is $1.47.

CytomX Therapeutics (NASDAQ:CTMX) last posted its quarterly earnings data on Thursday, August 8th. The biotechnology company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $25.12 million for the quarter, compared to analyst estimates of $21.79 million. During the same quarter in the prior year, the company earned ($0.02) earnings per share. As a group, analysts forecast that CytomX Therapeutics, Inc. will post -0.29 EPS for the current fiscal year.

Institutional Investors Weigh In On CytomX Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in CTMX. SG Americas Securities LLC bought a new position in CytomX Therapeutics during the first quarter worth about $57,000. US Bancorp DE acquired a new stake in shares of CytomX Therapeutics during the 3rd quarter worth about $40,000. Susquehanna Fundamental Investments LLC acquired a new position in CytomX Therapeutics in the 1st quarter valued at about $124,000. XTX Topco Ltd raised its holdings in CytomX Therapeutics by 382.6% in the 2nd quarter. XTX Topco Ltd now owns 60,586 shares of the biotechnology company’s stock valued at $74,000 after acquiring an additional 48,033 shares during the period. Finally, Forefront Analytics LLC raised its holdings in CytomX Therapeutics by 206.7% in the 2nd quarter. Forefront Analytics LLC now owns 64,065 shares of the biotechnology company’s stock valued at $78,000 after acquiring an additional 43,176 shares during the period. Institutional investors own 67.77% of the company’s stock.

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.