Short Interest in CytomX Therapeutics, Inc. (NASDAQ:CTMX) Drops By 13.4%

CytomX Therapeutics, Inc. (NASDAQ:CTMX) was the recipient of a large decrease in short interest in the month of 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 trading volume, of 1,230,000 shares, the days-to-cover ratio is presently 3.9 days.

CytomX Therapeutics Stock Performance

Shares of CytomX Therapeutics stock traded down $0.01 on Friday, hitting $0.84. 620,234 shares of the company traded hands, compared to its average volume of 992,394. The business has a 50-day simple moving average of $1.04 and a 200 day simple moving average of $1.15. CytomX Therapeutics has a 52 week low of $0.79 and a 52 week high of $5.85. The stock has a market capitalization of $65.74 million, a P/E ratio of 4.94 and a beta of 1.03.

CytomX Therapeutics (NASDAQ:CTMX) last announced its quarterly earnings results on Thursday, November 7th. The biotechnology company reported $0.07 EPS for the quarter, topping the consensus estimate 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 business had revenue of $33.43 million for the quarter, compared to analysts’ expectations of $18.92 million. During the same quarter in the previous year, the company earned $0.04 EPS. Research analysts expect that CytomX Therapeutics will post -0.05 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reaffirmed a “neutral” rating on shares of CytomX Therapeutics in a research note on Tuesday, January 7th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, CytomX Therapeutics presently has a consensus rating of “Hold” and a consensus target price of $5.77.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of CTMX. Traphagen Investment Advisors LLC purchased a new stake in CytomX Therapeutics during the 4th quarter valued at $31,000. US Bancorp DE purchased a new stake in CytomX Therapeutics in the 3rd quarter worth about $40,000. XTX Topco Ltd lifted its stake 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 during the last quarter. Forefront Analytics LLC boosted 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 buying an additional 43,176 shares during the period. Finally, Cubist Systematic Strategies LLC grew its stake in shares of CytomX Therapeutics by 96.6% during the second quarter. Cubist Systematic Strategies LLC now owns 82,054 shares of the biotechnology company’s stock valued at $100,000 after buying an additional 40,309 shares during the last quarter. 67.77% of the stock is currently owned by institutional investors.

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.