Short Interest in CytomX Therapeutics, Inc. (NASDAQ:CTMX) Declines By 6.6%

CytomX Therapeutics, Inc. (NASDAQ:CTMX) was the recipient of a large drop in short interest during the month of October. As of October 31st, there was short interest totalling 5,670,000 shares, a drop of 6.6% from the October 15th total of 6,070,000 shares. Based on an average daily trading volume, of 767,300 shares, the days-to-cover ratio is presently 7.4 days.

Wall Street Analyst Weigh In

Separately, HC Wainwright restated a “neutral” rating on shares of CytomX Therapeutics in a report on Monday, November 11th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $5.77.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. US Bancorp DE bought a new stake in CytomX Therapeutics during the third quarter worth about $40,000. SG Americas Securities LLC purchased a new stake in shares of CytomX Therapeutics in the 1st quarter worth approximately $57,000. XTX Topco Ltd increased its position 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 buying an additional 48,033 shares in the last quarter. Forefront Analytics LLC raised its stake in CytomX Therapeutics by 206.7% during the second quarter. Forefront Analytics LLC now owns 64,065 shares of the biotechnology company’s stock valued at $78,000 after buying an additional 43,176 shares during the last quarter. Finally, Cubist Systematic Strategies LLC boosted its holdings in CytomX Therapeutics by 96.6% in the second quarter. Cubist Systematic Strategies LLC now owns 82,054 shares of the biotechnology company’s stock worth $100,000 after acquiring an additional 40,309 shares in the last quarter. 67.77% of the stock is currently owned by institutional investors.

CytomX Therapeutics Stock Performance

CytomX Therapeutics stock opened at $0.89 on Wednesday. CytomX Therapeutics has a fifty-two week low of $0.83 and a fifty-two week high of $5.85. The stock has a market cap of $69.86 million, a price-to-earnings ratio of 5.08 and a beta of 1.06. The stock’s 50 day simple moving average is $1.11 and its two-hundred day simple moving average is $1.40.

CytomX Therapeutics (NASDAQ:CTMX) last issued its quarterly earnings results on Thursday, November 7th. The biotechnology company reported $0.07 earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.23. The company had revenue of $33.43 million for the quarter, compared to analysts’ expectations of $18.92 million. CytomX Therapeutics had a negative return on equity of 41.47% and a net margin of 10.96%. During the same period in the prior year, the firm earned $0.04 earnings per share. On average, analysts predict that CytomX Therapeutics will post -0.13 earnings per share for the current year.

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.