CytomX Therapeutics, Inc. (NASDAQ:CTMX) Sees Significant Increase in Short Interest

CytomX Therapeutics, Inc. (NASDAQ:CTMX) saw a large growth in short interest in March. As of March 15th, there was short interest totalling 9,000,000 shares, a growth of 91.5% from the February 28th total of 4,700,000 shares. Currently, 12.4% of the company’s stock are short sold. Based on an average daily volume of 1,790,000 shares, the short-interest ratio is presently 5.0 days.

Hedge Funds Weigh In On CytomX Therapeutics

Large investors have recently bought and sold shares of the stock. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of CytomX Therapeutics by 10.4% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 280,593 shares of the biotechnology company’s stock valued at $331,000 after purchasing an additional 26,373 shares during the last quarter. FMR LLC lifted its stake in CytomX Therapeutics by 17.3% in the third quarter. FMR LLC now owns 284,307 shares of the biotechnology company’s stock valued at $335,000 after buying an additional 41,949 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in shares of CytomX Therapeutics by 1.1% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,524,076 shares of the biotechnology company’s stock valued at $1,798,000 after acquiring an additional 16,359 shares during the period. Geode Capital Management LLC grew its position in shares of CytomX Therapeutics by 4.4% during the third quarter. Geode Capital Management LLC now owns 803,531 shares of the biotechnology company’s stock worth $948,000 after acquiring an additional 34,032 shares during the last quarter. Finally, Virtu Financial LLC purchased a new stake in CytomX Therapeutics in the 3rd quarter valued at $104,000. Institutional investors and hedge funds own 67.77% of the company’s stock.

CytomX Therapeutics Trading Up 1.9 %

CTMX stock traded up $0.01 during trading on Friday, hitting $0.63. 832,081 shares of the company’s stock were exchanged, compared to its average volume of 2,635,146. The business has a 50-day moving average price of $0.74 and a two-hundred day moving average price of $0.96. The stock has a market capitalization of $50.32 million, a price-to-earnings ratio of 3.70 and a beta of 1.05. CytomX Therapeutics has a 52-week low of $0.56 and a 52-week high of $5.85.

CytomX Therapeutics (NASDAQ:CTMX) last issued its quarterly earnings data on Thursday, March 6th. The biotechnology company reported $0.22 earnings per share for the quarter, topping the consensus estimate of ($0.23) by $0.45. The business had revenue of $38.09 million during the quarter, compared to the consensus estimate of $13.53 million. CytomX Therapeutics had a net margin of 10.96% and a negative return on equity of 41.47%. On average, equities research analysts anticipate that CytomX Therapeutics will post -0.05 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CTMX has been the subject of a number of analyst reports. HC Wainwright reissued a “neutral” rating on shares of CytomX Therapeutics in a research report on Friday, March 7th. StockNews.com upgraded shares of CytomX Therapeutics from a “hold” rating to a “buy” rating in a report on Monday, March 10th. Finally, Wedbush restated an “outperform” rating and issued a $5.00 price objective on shares of CytomX Therapeutics in a report on Friday, March 7th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, CytomX Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $5.02.

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.