CytomX Therapeutics (NASDAQ:CTMX) Stock Price Down 6.3% – What’s Next?

CytomX Therapeutics, Inc. (NASDAQ:CTMX)’s stock price dropped 6.3% on Friday . The company traded as low as $3.71 and last traded at $3.7010. 365,145 shares changed hands during trading, a decline of 93% from the average session volume of 5,365,162 shares. The stock had previously closed at $3.95.

Wall Street Analyst Weigh In

Several brokerages have commented on CTMX. Oppenheimer reiterated an “outperform” rating and issued a $12.00 price target on shares of CytomX Therapeutics in a research note on Monday, March 16th. JPMorgan Chase & Co. raised CytomX Therapeutics from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $7.00 to $12.00 in a report on Monday, March 16th. Wolfe Research assumed coverage on CytomX Therapeutics in a research report on Tuesday, May 19th. They issued an “outperform” rating and a $6.00 target price on the stock. HC Wainwright dropped their price target on CytomX Therapeutics from $17.00 to $11.00 and set a “buy” rating for the company in a research note on Monday, May 11th. Finally, Guggenheim lifted their price objective on CytomX Therapeutics from $10.00 to $15.00 and gave the stock a “buy” rating in a research note on Wednesday, March 18th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $12.10.

CytomX Therapeutics Price Performance

The business has a 50-day moving average of $3.53 and a 200-day moving average of $4.40. The company has a market capitalization of $628.85 million, a P/E ratio of -9.01 and a beta of 2.08.

CytomX Therapeutics (NASDAQ:CTMX) last issued its quarterly earnings results on Thursday, May 7th. The biotechnology company reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.04. CytomX Therapeutics had a negative net margin of 166.40% and a negative return on equity of 36.61%. The company had revenue of $10.26 million for the quarter, compared to the consensus estimate of $4.68 million. Sell-side analysts predict that CytomX Therapeutics, Inc. will post -0.45 EPS for the current fiscal year.

Institutional Investors Weigh In On CytomX Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the business. Wells Fargo & Company MN lifted its stake 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 worth $28,000 after acquiring an additional 3,000 shares during the last quarter. Invesco Ltd. purchased a new position in CytomX Therapeutics during the 2nd quarter valued at $32,000. Mirae Asset Global Investments Co. Ltd. bought a new position in CytomX Therapeutics in the 4th quarter valued at $35,000. Goldman Sachs Group Inc. purchased a new stake in CytomX Therapeutics in the first quarter worth $39,000. Finally, May Hill Capital LLC purchased a new stake in CytomX Therapeutics in the fourth quarter worth $46,000. 67.77% of the stock is currently owned by hedge funds and other institutional investors.

About CytomX Therapeutics

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.