CytomX Therapeutics (NASDAQ:CTMX) Stock Price Passes Below 50 Day Moving Average – Should You Sell?

Shares of CytomX Therapeutics, Inc. (NASDAQ:CTMX) crossed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $4.86 and traded as low as $4.43. CytomX Therapeutics shares last traded at $4.45, with a volume of 3,356,973 shares.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CTMX. Piper Sandler increased their price target on CytomX Therapeutics from $10.00 to $12.00 and gave the stock an “overweight” rating in a research note on Monday, March 23rd. JPMorgan Chase & Co. upgraded CytomX Therapeutics from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $7.00 to $12.00 in a research note on Monday, March 16th. Wall Street Zen downgraded CytomX Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Saturday. Weiss Ratings downgraded CytomX Therapeutics from a “hold (c-)” rating to a “sell (d)” rating in a research note on Thursday, March 19th. Finally, Guggenheim raised their target price on CytomX Therapeutics from $10.00 to $15.00 and gave the stock a “buy” rating in a research note on Wednesday, March 18th. Nine research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $13.44.

CytomX Therapeutics Stock Performance

The firm has a 50 day simple moving average of $4.84 and a 200 day simple moving average of $4.48. The firm has a market cap of $748.84 million, a P/E ratio of -110.00 and a beta of 2.49.

CytomX Therapeutics (NASDAQ:CTMX) last issued its earnings results on Monday, March 16th. The biotechnology company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.14). CytomX Therapeutics had a negative return on equity of 19.77% and a negative net margin of 22.79%.The company had revenue of $0.66 million during the quarter, compared to the consensus estimate of $7.33 million. Sell-side analysts predict that CytomX Therapeutics, Inc. will post -0.56 EPS for the current fiscal year.

Insiders Place Their Bets

In other CytomX Therapeutics news, CFO Christopher Ogden sold 19,323 shares of the firm’s stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $6.42, for a total value of $124,053.66. Following the sale, the chief financial officer owned 296,948 shares of the company’s stock, valued at $1,906,406.16. This trade represents a 6.11% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Sean A. Mccarthy sold 118,969 shares of the firm’s stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $6.42, for a total value of $763,780.98. Following the completion of the sale, the chief executive officer directly owned 1,078,922 shares in the company, valued at approximately $6,926,679.24. The trade was a 9.93% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 191,063 shares of company stock worth $1,226,624. 6.60% of the stock is currently owned by insiders.

Institutional Trading of CytomX Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the business. Squarepoint Ops LLC raised its holdings in shares of CytomX Therapeutics by 4.5% in the 4th quarter. Squarepoint Ops LLC now owns 49,897 shares of the biotechnology company’s stock valued at $213,000 after acquiring an additional 2,169 shares in the last quarter. Wells Fargo & Company MN raised its holdings in shares of CytomX Therapeutics by 83.2% during the 4th quarter. Wells Fargo & Company MN now owns 6,605 shares of the biotechnology company’s stock valued at $28,000 after buying an additional 3,000 shares in the last quarter. Velan Capital Investment Management LP raised its holdings in shares of CytomX Therapeutics by 6.7% during the 3rd quarter. Velan Capital Investment Management LP now owns 80,000 shares of the biotechnology company’s stock valued at $255,000 after buying an additional 5,000 shares in the last quarter. Farther Finance Advisors LLC purchased a new position in shares of CytomX Therapeutics during the 3rd quarter valued at about $25,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of CytomX Therapeutics during the 4th quarter valued at about $35,000. Hedge funds and other institutional investors own 67.77% of the company’s stock.

CytomX Therapeutics Company Profile

CytomX Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of next-generation therapeutics based on its proprietary Probody® platform. The company engineers masked antibody prodrugs that remain inactive in healthy tissue but are selectively activated in the tumor microenvironment. This approach is designed to enhance the safety and tolerability of antibody-based therapies, particularly those targeting immuno-oncology pathways.

At the core of CytomX’s pipeline is Pacmilimab (CX-072), an anti–PD-L1 Probody therapeutic currently undergoing clinical evaluation for multiple solid tumor indications.