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

CytomX Therapeutics, Inc. (NASDAQ:CTMX) shares passed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $0.97 and traded as low as $0.79. CytomX Therapeutics shares last traded at $0.80, with a volume of 884,253 shares changing hands.

Wall Street Analyst Weigh In

Separately, HC Wainwright reiterated a “neutral” rating on shares of CytomX Therapeutics in a research report on Tuesday, January 7th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $5.77.

CytomX Therapeutics Price Performance

The firm has a market capitalization of $62.67 million, a PE ratio of 4.71 and a beta of 1.01. The business has a 50-day simple moving average of $0.95 and a 200-day simple moving average of $1.06.

Institutional Investors Weigh In On CytomX Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CTMX. Jacobs Levy Equity Management Inc. raised its stake in shares of CytomX Therapeutics by 1.1% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,524,076 shares of the biotechnology company’s stock valued at $1,798,000 after acquiring an additional 16,359 shares in the last quarter. Northern Trust Corp increased its holdings in CytomX Therapeutics by 16.0% during the 4th quarter. Northern Trust Corp now owns 150,632 shares of the biotechnology company’s stock worth $155,000 after purchasing an additional 20,746 shares during the period. Miller Financial Services LLC acquired a new stake in CytomX Therapeutics in the 4th quarter valued at about $26,000. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of CytomX Therapeutics by 10.4% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 280,593 shares of the biotechnology company’s stock worth $331,000 after buying an additional 26,373 shares in the last quarter. Finally, Prudential Financial Inc. grew its position in shares of CytomX Therapeutics by 76.2% during the fourth quarter. Prudential Financial Inc. now owns 64,300 shares of the biotechnology company’s stock worth $66,000 after buying an additional 27,800 shares in the last quarter. Hedge funds and other 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.