CytomX Therapeutics, Inc. (NASDAQ:CTMX) Short Interest Up 91.5% in March

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 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 short sold.

Institutional Investors Weigh In On CytomX Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of CTMX. Prosight Management LP boosted its holdings in CytomX Therapeutics by 29.2% during the 4th quarter. Prosight Management LP now owns 3,905,000 shares of the biotechnology company’s stock valued at $4,022,000 after acquiring an additional 882,891 shares during the period. Millennium Management LLC lifted its position in shares of CytomX Therapeutics by 25.8% during the fourth quarter. Millennium Management LLC now owns 3,221,012 shares of the biotechnology company’s stock worth $3,318,000 after purchasing an additional 660,756 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in shares of CytomX Therapeutics in the fourth quarter valued at approximately $2,730,000. Jacobs Levy Equity Management Inc. grew its holdings in shares of CytomX Therapeutics by 1.5% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,547,215 shares of the biotechnology company’s stock valued at $1,594,000 after purchasing an additional 23,139 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC increased its stake in CytomX Therapeutics by 13.9% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 1,380,800 shares of the biotechnology company’s stock worth $1,422,000 after buying an additional 169,000 shares during the period. Hedge funds and other institutional investors own 67.77% of the company’s stock.

Wall Street Analyst Weigh In

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

CytomX Therapeutics Stock Up 1.9 %

CTMX stock traded up $0.01 during mid-day trading on Friday, hitting $0.63. 832,081 shares of the company were exchanged, compared to its average volume of 2,635,146. CytomX Therapeutics has a 12-month low of $0.56 and a 12-month high of $5.85. The firm has a market capitalization of $50.32 million, a P/E ratio of 3.70 and a beta of 1.05. The business has a fifty day simple moving average of $0.74 and a 200-day simple moving average of $0.96.

CytomX Therapeutics (NASDAQ:CTMX) last posted its earnings results on Thursday, March 6th. The biotechnology company reported $0.22 earnings per share for the quarter, beating the consensus estimate 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 net margin of 10.96% and a negative return on equity of 41.47%. Research analysts predict that CytomX Therapeutics will post -0.05 EPS for the current year.

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.