CytomX Therapeutics (NASDAQ:CTMX) Reaches New 52-Week Low – Here’s What Happened

CytomX Therapeutics, Inc. (NASDAQ:CTMX) shares hit a new 52-week low on Monday. The stock traded as low as $2.14 and last traded at $2.23, with a volume of 9,469,881 shares traded. The stock had previously closed at $2.34.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on CTMX shares. Cantor Fitzgerald reiterated an “overweight” rating on shares of CytomX Therapeutics in a research note on Tuesday, October 13th. JPMorgan Chase & Co. decreased their price objective on CytomX Therapeutics from $12.00 to $11.00 and set an “overweight” rating for the company in a report on Thursday, August 13th. Zacks Research downgraded CytomX Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 19th. Wall Street Zen lowered CytomX Therapeutics from a “hold” rating to a “sell” rating in a report on Sunday, August 23rd. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of CytomX Therapeutics in a report on Friday, September 11th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $11.90.

CytomX Therapeutics Stock Performance

The firm’s fifty day moving average price is $2.81 and its two-hundred day moving average price is $3.86.

CytomX Therapeutics (NASDAQ:CTMX) last posted its earnings results on Thursday, August 6th. The biotechnology company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.01). CytomX Therapeutics had a negative net margin of 435.21% and a negative return on equity of 38.46%. The firm had revenue of $1.42 million during the quarter, compared to analyst estimates of $12.39 million. As a group, sell-side analysts anticipate that CytomX Therapeutics, Inc. will post -0.40 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CTMX. BlackRock Inc. acquired a new position in shares of CytomX Therapeutics in the second quarter worth about $65,849,000. Bank of America Corp DE purchased a new stake in shares of CytomX Therapeutics during the 2nd quarter worth about $56,560,000. Elmind Capital LP purchased a new stake in shares of CytomX Therapeutics during the 2nd quarter worth about $17,062,500. Siren L.L.C. purchased a new stake in shares of CytomX Therapeutics during the 1st quarter worth about $16,251,000. Finally, ADAR1 Capital Management LLC acquired a new stake in shares of CytomX Therapeutics during the 2nd quarter valued at about $12,619,000. 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 developing cancer medicines designed to be activated selectively within the tumor microenvironment. The company’s approach is intended to improve the precision of treatment by limiting activity in healthy tissues while enabling therapeutic effects at tumor sites.

CytomX’s research is based on its Probody therapeutic platform, which uses molecular masking and tumor-associated protease activity to conditionally activate antibody-based medicines.