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

CytomX Therapeutics, Inc. (NASDAQ:CTMX) was the target of a significant 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 currently 5.0 days. Currently, 12.4% of the shares of the company are sold short.

CytomX Therapeutics Stock Performance

CytomX Therapeutics stock traded up $0.01 during mid-day trading on Friday, hitting $0.63. 832,081 shares of the company traded hands, compared to its average volume of 2,635,146. The stock has a market cap of $50.32 million, a price-to-earnings ratio of 3.70 and a beta of 1.05. CytomX Therapeutics has a one year low of $0.56 and a one year high of $5.85. The stock has a fifty day moving average price of $0.74 and a 200-day moving average price of $0.96.

CytomX Therapeutics (NASDAQ:CTMX) last announced its quarterly earnings results on Thursday, March 6th. The biotechnology company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.45. CytomX Therapeutics had a negative return on equity of 41.47% and a net margin of 10.96%. The business had revenue of $38.09 million for the quarter, compared to analysts’ expectations of $13.53 million. Sell-side analysts predict that CytomX Therapeutics will post -0.05 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on CTMX shares. Wedbush reissued an “outperform” rating and set a $5.00 price objective on shares of CytomX Therapeutics in a report on Friday, March 7th. StockNews.com upgraded CytomX Therapeutics from a “hold” rating to a “buy” rating in a research note on Monday, March 10th. Finally, HC Wainwright restated a “neutral” rating on shares of CytomX Therapeutics in a research 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. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $5.02.

Hedge Funds Weigh In On CytomX Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the company. Jacobs Levy Equity Management Inc. grew its stake 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 worth $1,798,000 after purchasing an additional 16,359 shares during the last quarter. Northern Trust Corp raised its holdings in shares of CytomX Therapeutics by 16.0% during the fourth quarter. Northern Trust Corp now owns 150,632 shares of the biotechnology company’s stock valued at $155,000 after acquiring an additional 20,746 shares in the last quarter. Miller Financial Services LLC purchased a new stake in CytomX Therapeutics in the fourth quarter worth $26,000. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in CytomX Therapeutics by 10.4% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 280,593 shares of the biotechnology company’s stock valued at $331,000 after acquiring an additional 26,373 shares in the last quarter. Finally, Prudential Financial Inc. increased its position in CytomX Therapeutics by 76.2% during the 4th quarter. Prudential Financial Inc. now owns 64,300 shares of the biotechnology company’s stock valued at $66,000 after purchasing an additional 27,800 shares during the period. 67.77% of the stock is 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.