CytomX Therapeutics (NASDAQ:CTMX) Shares Cross Below Two Hundred Day Moving Average – Time to Sell?

CytomX Therapeutics, Inc. (NASDAQ:CTMX)’s stock price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $1.22 and traded as low as $1.06. CytomX Therapeutics shares last traded at $1.13, with a volume of 820,889 shares changing hands.

Analysts Set New Price Targets

Separately, HC Wainwright restated a “neutral” rating on shares of CytomX Therapeutics in a research report on Monday, November 11th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, CytomX Therapeutics currently has a consensus rating of “Hold” and a consensus price target of $5.77.

CytomX Therapeutics Stock Down 1.7 %

The firm has a 50-day moving average of $1.07 and a 200 day moving average of $1.22. The stock has a market capitalization of $88.43 million, a P/E ratio of 6.65 and a beta of 1.07.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CTMX. Assenagon Asset Management S.A. lifted its position in shares of CytomX Therapeutics by 206.0% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,238,499 shares of the biotechnology company’s stock worth $1,511,000 after buying an additional 833,825 shares during the period. Candriam S.C.A. bought a new position in shares of CytomX Therapeutics during the second quarter valued at $256,000. Cubist Systematic Strategies LLC boosted its stake in shares of CytomX Therapeutics by 96.6% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 82,054 shares of the biotechnology company’s stock valued at $100,000 after purchasing an additional 40,309 shares in the last quarter. XTX Topco Ltd grew its holdings 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 purchasing an additional 48,033 shares during the last quarter. Finally, Acadian Asset Management LLC increased its position in shares of CytomX Therapeutics by 1.4% during the 2nd quarter. Acadian Asset Management LLC now owns 2,728,569 shares of the biotechnology company’s stock worth $3,324,000 after purchasing an additional 37,739 shares in the last quarter. Institutional investors own 67.77% of the company’s stock.

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.