CytomX Therapeutics (NASDAQ:CTMX) Hits New 12-Month Low – What’s Next?

CytomX Therapeutics, Inc. (NASDAQ:CTMX) hit a new 52-week low on Friday. The stock traded as low as $2.66 and last traded at $2.6980, with a volume of 550093 shares. The stock had previously closed at $2.75.

Wall Street Analyst Weigh In

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

CytomX Therapeutics Stock Down 2.4%

The firm has a market capitalization of $585.06 million, a price-to-earnings ratio of -5.37 and a beta of 2.14. The company has a fifty day moving average price of $3.30 and a two-hundred day moving average price of $3.74.

CytomX Therapeutics (NASDAQ:CTMX) last announced its earnings results 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 analyst estimates 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 analysts anticipate that CytomX Therapeutics, Inc. will post -0.4 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of America Corp DE lifted its position in CytomX Therapeutics by 1,064.3% during the 1st quarter. Bank of America Corp DE now owns 10,202,785 shares of the biotechnology company’s stock worth $47,953,000 after acquiring an additional 9,326,480 shares during the period. Schulhoff & Co. Inc. acquired a new position in shares of CytomX Therapeutics in the fourth quarter valued at approximately $1,597,000. BlackRock Inc. purchased a new stake in shares of CytomX Therapeutics during the second quarter worth approximately $65,849,000. Siren L.L.C. purchased a new stake in shares of CytomX Therapeutics during the first quarter worth approximately $16,251,000. Finally, Perceptive Advisors LLC lifted its holdings in shares of CytomX Therapeutics by 4.3% during the first quarter. Perceptive Advisors LLC now owns 10,098,824 shares of the biotechnology company’s stock worth $47,464,000 after purchasing an additional 418,639 shares during the period. 67.77% of the stock is owned by hedge funds and other institutional investors.

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.