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

CytomX Therapeutics, Inc. (NASDAQ:CTMX) was the target of a significant decline in short interest in November. As of November 15th, there was short interest totalling 4,440,000 shares, a decline of 21.7% from the October 31st total of 5,670,000 shares. Based on an average daily trading volume, of 809,100 shares, the days-to-cover ratio is currently 5.5 days.

Institutional Trading of CytomX Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the company. Assenagon Asset Management S.A. lifted its position in shares of CytomX Therapeutics by 206.0% during the second quarter. Assenagon Asset Management S.A. now owns 1,238,499 shares of the biotechnology company’s stock worth $1,511,000 after purchasing an additional 833,825 shares during the last quarter. Candriam S.C.A. bought a new stake in shares of CytomX Therapeutics in the 2nd quarter worth approximately $256,000. Acadian Asset Management LLC increased its holdings in shares of CytomX Therapeutics by 1.4% in the 2nd quarter. Acadian Asset Management LLC now owns 2,728,569 shares of the biotechnology company’s stock worth $3,324,000 after acquiring an additional 37,739 shares during the period. XTX Topco Ltd increased its stake in shares of CytomX Therapeutics by 382.6% in the second quarter. XTX Topco Ltd now owns 60,586 shares of the biotechnology company’s stock valued at $74,000 after purchasing an additional 48,033 shares during the period. Finally, Cubist Systematic Strategies LLC grew its stake in shares of 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 purchasing an additional 40,309 shares in the last quarter. 67.77% of the stock is currently owned by institutional investors and hedge funds.

CytomX Therapeutics Trading Down 0.5 %

Shares of NASDAQ CTMX traded down $0.01 during trading hours on Monday, reaching $1.06. The stock had a trading volume of 599,889 shares, compared to its average volume of 2,456,200. The firm has a 50-day moving average of $1.06 and a 200-day moving average of $1.27. CytomX Therapeutics has a fifty-two week low of $0.83 and a fifty-two week high of $5.85. The firm has a market cap of $82.56 million, a price-to-earnings ratio of 6.24 and a beta of 1.06.

CytomX Therapeutics (NASDAQ:CTMX) last released its quarterly earnings data on Thursday, November 7th. The biotechnology company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.23. CytomX Therapeutics had a negative return on equity of 41.47% and a net margin of 10.96%. The firm had revenue of $33.43 million during the quarter, compared to analysts’ expectations of $18.92 million. During the same quarter in the prior year, the business posted $0.04 earnings per share. On average, equities analysts predict that CytomX Therapeutics will post -0.05 EPS for the current year.

Analyst Ratings Changes

Separately, HC Wainwright reiterated a “neutral” rating on shares of CytomX Therapeutics in a report on Monday, November 11th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, CytomX Therapeutics presently has an average rating of “Hold” and an average target price of $5.77.

CytomX Therapeutics Company Profile

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.