CytomX Therapeutics, Inc. (NASDAQ:CTMX) Sees Large Decline in Short Interest

CytomX Therapeutics, Inc. (NASDAQ:CTMX) was the recipient of a significant decline in short interest in the month of September. As of September 30th, there was short interest totalling 6,250,000 shares, a decline of 10.5% from the September 15th total of 6,980,000 shares. Based on an average trading volume of 686,500 shares, the days-to-cover ratio is presently 9.1 days.

Institutional Investors Weigh In On CytomX Therapeutics

Several hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC bought a new position in CytomX Therapeutics in the first quarter worth $57,000. Susquehanna Fundamental Investments LLC purchased a new stake in shares of CytomX Therapeutics in the 1st quarter worth about $124,000. XTX Topco Ltd increased its stake in shares of CytomX Therapeutics by 382.6% in the 2nd quarter. XTX Topco Ltd now owns 60,586 shares of the biotechnology company’s stock worth $74,000 after acquiring an additional 48,033 shares in the last quarter. Forefront Analytics LLC lifted 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 acquiring an additional 43,176 shares during the period. Finally, Cubist Systematic Strategies LLC boosted its stake in CytomX Therapeutics by 96.6% during 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 Down 1.7 %

Shares of NASDAQ:CTMX traded down $0.02 on Thursday, hitting $1.16. The company had a trading volume of 392,745 shares, compared to its average volume of 2,682,713. CytomX Therapeutics has a 1 year low of $1.04 and a 1 year high of $5.85. The firm’s 50-day simple moving average is $1.19 and its two-hundred day simple moving average is $1.58. The firm has a market capitalization of $90.39 million, a price-to-earnings ratio of 5.80 and a beta of 1.04.

CytomX Therapeutics (NASDAQ:CTMX) last issued its quarterly earnings data on Thursday, August 8th. The biotechnology company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.01). CytomX Therapeutics had a negative return on equity of 27.44% and a net margin of 9.27%. The company had revenue of $25.12 million during the quarter, compared to analysts’ expectations of $21.79 million. During the same quarter last year, the business earned ($0.02) earnings per share. Equities research analysts anticipate that CytomX Therapeutics will post -0.29 EPS for the current year.

Wall Street Analyst Weigh In

Separately, HC Wainwright restated a “neutral” rating on shares of CytomX Therapeutics in a report on Friday, September 13th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $5.77.

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.