CytomX Therapeutics, Inc. (NASDAQ:CTMX) Short Interest Down 9.1% in August

CytomX Therapeutics, Inc. (NASDAQ:CTMX) was the recipient of a large drop in short interest in the month of August. As of August 31st, there was short interest totalling 7,150,000 shares, a drop of 9.1% from the August 15th total of 7,870,000 shares. Based on an average daily volume of 1,100,000 shares, the short-interest ratio is presently 6.5 days.

CytomX Therapeutics Stock Performance

Shares of CTMX stock remained flat at $1.21 during trading hours on Tuesday. 653,282 shares of the stock traded hands, compared to its average volume of 2,924,453. The stock has a 50-day moving average price of $1.28 and a two-hundred day moving average price of $1.74. CytomX Therapeutics has a 1 year low of $1.04 and a 1 year high of $5.85. The firm has a market cap of $94.28 million, a PE ratio of 6.05 and a beta of 1.03.

CytomX Therapeutics (NASDAQ:CTMX) last announced its quarterly earnings data on Thursday, August 8th. The biotechnology company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.01). CytomX Therapeutics had a net margin of 9.27% and a negative return on equity of 27.44%. The company had revenue of $25.12 million for the quarter, compared to analysts’ expectations of $21.79 million. During the same quarter in the previous year, the firm posted ($0.02) EPS. On average, equities research analysts forecast that CytomX Therapeutics will post -0.2 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on CTMX shares. HC Wainwright reiterated a “neutral” rating on shares of CytomX Therapeutics in a research report on Friday. StockNews.com downgraded CytomX Therapeutics from a “buy” rating to a “hold” rating in a report on Monday, June 17th. Finally, Piper Sandler upgraded CytomX Therapeutics from a “neutral” rating to an “overweight” rating and raised their target price for the company from $2.25 to $3.50 in a research note on Tuesday, May 28th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $5.77.

Hedge Funds Weigh In On CytomX Therapeutics

A number of hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC bought a new stake in CytomX Therapeutics during the 1st quarter valued at about $57,000. XTX Topco Ltd grew its holdings in shares of CytomX Therapeutics by 382.6% during the second quarter. XTX Topco Ltd now owns 60,586 shares of the biotechnology company’s stock valued at $74,000 after buying an additional 48,033 shares during the last quarter. Forefront Analytics LLC increased its position in shares of CytomX Therapeutics by 206.7% during the second 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 in the last quarter. Cubist Systematic Strategies LLC raised its holdings in CytomX Therapeutics by 96.6% in the 2nd 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 during the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new position in CytomX Therapeutics in the 1st quarter valued at approximately $124,000. 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.