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

CytomX Therapeutics, Inc. (NASDAQ:CTMX) saw 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. Currently, 12.4% of the shares of the company are short sold. Based on an average trading volume of 1,790,000 shares, the days-to-cover ratio is currently 5.0 days.

CytomX Therapeutics Stock Performance

CTMX stock traded up $0.01 during trading on Friday, reaching $0.63. The company had a trading volume of 831,077 shares, compared to its average volume of 2,635,887. The firm has a 50-day simple moving average of $0.75 and a 200-day simple moving average of $0.97. The company 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 twelve month low of $0.56 and a twelve month high of $5.85.

CytomX Therapeutics (NASDAQ:CTMX) last released its earnings results on Thursday, March 6th. The biotechnology company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.23) by $0.45. The firm had revenue of $38.09 million for 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%. Sell-side analysts expect that CytomX Therapeutics will post -0.05 earnings per share for the current year.

Hedge Funds Weigh In On CytomX Therapeutics

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

Wall Street Analyst Weigh In

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