CytomX Therapeutics (NASDAQ:CTMX) Sets New 52-Week Low – What’s Next?

CytomX Therapeutics, Inc. (NASDAQ:CTMX)’s share price reached a new 52-week low during trading on Friday. The stock traded as low as $2.59 and last traded at $2.5940, with a volume of 187596 shares traded. The stock had previously closed at $2.63.

Analyst Ratings Changes

Several research firms have weighed in on CTMX. Wall Street Zen downgraded shares of CytomX Therapeutics from a “hold” rating to a “sell” rating in a report on Sunday, August 23rd. Guggenheim reduced their price target on shares of CytomX Therapeutics from $15.00 to $14.00 and set a “buy” rating on the stock in a report on Monday, August 10th. Weiss Ratings reiterated a “sell (d)” rating on shares of CytomX Therapeutics in a research report on Friday, September 11th. Zacks Research cut shares of CytomX Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 19th. Finally, JPMorgan Chase & Co. cut their price objective on CytomX Therapeutics from $12.00 to $11.00 and set an “overweight” rating for the company in a research report on Thursday, August 13th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $11.90.

CytomX Therapeutics Trading Down 1.3%

The business has a 50 day simple moving average of $3.23 and a two-hundred day simple moving average of $3.66. The company has a market cap of $565.45 million, a PE ratio of -5.17 and a beta of 2.21.

CytomX Therapeutics (NASDAQ:CTMX) last announced its quarterly earnings data on Thursday, August 6th. The biotechnology company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.01). The business had revenue of $1.42 million during the quarter, compared to analysts’ expectations of $12.39 million. CytomX Therapeutics had a negative net margin of 435.21% and a negative return on equity of 38.46%. On average, equities research analysts expect that CytomX Therapeutics, Inc. will post -0.4 earnings per share for the current fiscal year.

Institutional Trading of CytomX Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CTMX. BlackRock Inc. acquired a new position in shares of CytomX Therapeutics during the 2nd quarter valued at about $65,849,000. Bank of America Corp DE purchased a new position in shares of CytomX Therapeutics during the 2nd quarter worth about $56,560,000. Elmind Capital LP acquired a new stake in shares of CytomX Therapeutics in the second quarter worth approximately $17,062,500. Siren L.L.C. acquired a new stake in shares of CytomX Therapeutics in the first quarter worth approximately $16,251,000. Finally, ADAR1 Capital Management LLC purchased a new stake in CytomX Therapeutics in the second quarter valued at approximately $12,619,000. Hedge funds and other institutional investors own 67.77% of the company’s stock.

About CytomX Therapeutics

CytomX Therapeutics, Inc (NASDAQ: CTMX) is a clinical-stage biopharmaceutical company focused on developing cancer therapies designed to selectively activate in the tumor microenvironment. The company’s Probody therapeutic platform uses molecular masking technology intended to limit antibody activity in healthy tissue and enable activation by proteases that are more prevalent in tumors.

CytomX’s pipeline includes investigational therapies spanning several modalities, including Probody drug conjugates, T-cell engagers and cytokine-based treatments.