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

CytomX Therapeutics, Inc. (NASDAQ:CTMX) saw a large decrease in short interest in December. As of December 31st, there was short interest totalling 4,800,000 shares, a decrease of 13.4% from the December 15th total of 5,540,000 shares. Based on an average daily volume of 1,230,000 shares, the days-to-cover ratio is currently 3.9 days.

Hedge Funds Weigh In On CytomX Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in CTMX. Assenagon Asset Management S.A. lifted its stake in shares of CytomX Therapeutics by 32.8% in the third quarter. Assenagon Asset Management S.A. now owns 1,644,168 shares of the biotechnology company’s stock worth $1,940,000 after acquiring an additional 405,669 shares during the period. Sei Investments Co. bought a new stake in CytomX Therapeutics in the second quarter worth approximately $467,000. Virtu Financial LLC bought a new stake in CytomX Therapeutics in the third quarter worth approximately $104,000. Congress Park Capital LLC increased its holdings in CytomX Therapeutics by 5.4% in the third quarter. Congress Park Capital LLC now owns 1,216,008 shares of the biotechnology company’s stock worth $1,435,000 after purchasing an additional 62,788 shares in the last quarter. Finally, XTX Topco Ltd increased its holdings in CytomX Therapeutics by 382.6% in the second 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 in the last quarter. 67.77% of the stock is owned by institutional investors and hedge funds.

CytomX Therapeutics Price Performance

Shares of CytomX Therapeutics stock traded down $0.01 during midday trading on Friday, reaching $0.84. The company had a trading volume of 620,234 shares, compared to its average volume of 992,394. The stock has a fifty day moving average price of $1.04 and a 200 day moving average price of $1.15. The firm has a market cap of $65.74 million, a PE ratio of 4.94 and a beta of 1.03. CytomX Therapeutics has a fifty-two week low of $0.79 and a fifty-two week high of $5.85.

CytomX Therapeutics (NASDAQ:CTMX) last posted 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. The company had revenue of $33.43 million for the quarter, compared to analyst estimates of $18.92 million. CytomX Therapeutics had a negative return on equity of 41.47% and a net margin of 10.96%. During the same period in the previous year, the firm earned $0.04 earnings per share. As a group, sell-side analysts forecast that CytomX Therapeutics will post -0.05 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reissued a “neutral” rating on shares of CytomX Therapeutics in a report on Tuesday, January 7th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $5.77.

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.