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

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

Institutional Investors Weigh In On CytomX Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Miller Financial Services LLC acquired a new stake in shares of CytomX Therapeutics in the 4th quarter valued at about $26,000. Traphagen Investment Advisors LLC bought a new stake in CytomX Therapeutics during the fourth quarter worth $31,000. Algert Global LLC purchased a new stake in CytomX Therapeutics in the 4th quarter valued at $35,000. Velan Capital Investment Management LP bought a new position in CytomX Therapeutics during the 4th quarter valued at $36,000. Finally, Aspire Growth Partners LLC bought a new stake in shares of CytomX Therapeutics in the 4th quarter worth $42,000. 67.77% of the stock is owned by institutional investors.

CytomX Therapeutics Price Performance

Shares of CTMX traded up $0.01 during trading hours on Friday, hitting $0.63. 832,081 shares of the stock were exchanged, compared to its average volume of 2,635,146. CytomX Therapeutics has a fifty-two week low of $0.56 and a fifty-two week high of $5.85. The business has a 50-day moving average of $0.74 and a 200-day moving average of $0.96. The firm has a market capitalization of $50.32 million, a P/E ratio of 3.70 and a beta of 1.05.

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

Analysts Set New Price Targets

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

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.