Short Interest in CytomX Therapeutics, Inc. (NASDAQ:CTMX) Drops By 9.1%

CytomX Therapeutics, Inc. (NASDAQ:CTMX) was the target of a significant decline in short interest in August. As of August 31st, there was short interest totalling 7,150,000 shares, a decline of 9.1% from the August 15th total of 7,870,000 shares. Based on an average daily trading volume, of 1,100,000 shares, the days-to-cover ratio is currently 6.5 days.

CytomX Therapeutics Stock Performance

NASDAQ CTMX remained flat at $1.21 during trading on Tuesday. 653,282 shares of the company’s stock traded hands, compared to its average volume of 2,924,453. The business’s 50-day moving average price is $1.28 and its two-hundred day moving average price is $1.74. CytomX Therapeutics has a twelve month low of $1.04 and a twelve month high of $5.85. The firm has a market cap of $94.28 million, a price-to-earnings ratio of 6.05 and a beta of 1.03.

CytomX Therapeutics (NASDAQ:CTMX) last issued its earnings results on Thursday, August 8th. The biotechnology company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.01). The company had revenue of $25.12 million for the quarter, compared to analysts’ expectations of $21.79 million. CytomX Therapeutics had a net margin of 9.27% and a negative return on equity of 27.44%. During the same quarter in the prior year, the company earned ($0.02) earnings per share. On average, sell-side analysts anticipate that CytomX Therapeutics will post -0.2 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Piper Sandler raised CytomX Therapeutics from a “neutral” rating to an “overweight” rating and raised their price target for the company from $2.25 to $3.50 in a report on Tuesday, May 28th. HC Wainwright reaffirmed a “neutral” rating on shares of CytomX Therapeutics in a research note on Friday. Finally, StockNews.com cut shares of CytomX Therapeutics from a “buy” rating to a “hold” rating in a research note on Monday, June 17th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $5.77.

Institutional Investors Weigh In On CytomX Therapeutics

Several institutional investors have recently added to or reduced their stakes in CTMX. SG Americas Securities LLC bought a new position in shares of CytomX Therapeutics during the first quarter valued at about $57,000. XTX Topco Ltd increased its holdings in CytomX Therapeutics by 382.6% during the 2nd quarter. XTX Topco Ltd now owns 60,586 shares of the biotechnology company’s stock valued at $74,000 after purchasing an additional 48,033 shares during the period. Forefront Analytics LLC raised its position in CytomX Therapeutics by 206.7% during the 2nd quarter. Forefront Analytics LLC now owns 64,065 shares of the biotechnology company’s stock valued at $78,000 after purchasing an additional 43,176 shares during the last quarter. Cubist Systematic Strategies LLC lifted its holdings in CytomX Therapeutics by 96.6% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 82,054 shares of the biotechnology company’s stock worth $100,000 after buying an additional 40,309 shares during the period. Finally, Susquehanna Fundamental Investments LLC bought a new stake in shares of CytomX Therapeutics in the 1st quarter worth approximately $124,000. Hedge funds and other institutional investors own 67.77% of the company’s stock.

About CytomX Therapeutics

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.