CytomX Therapeutics (NASDAQ:CTMX) Sets New 52-Week Low – Should You Sell?

CytomX Therapeutics, Inc. (NASDAQ:CTMX) reached a new 52-week low during mid-day trading on Monday. The stock traded as low as $2.18 and last traded at $2.22, with a volume of 5,207,224 shares. The stock had previously closed at $2.32.

Analysts Set New Price Targets

CTMX has been the subject of several research analyst reports. Wall Street Zen lowered shares of CytomX Therapeutics from a “hold” rating to a “sell” rating in a report on Sunday, August 23rd. Cantor Fitzgerald reissued an “overweight” rating on shares of CytomX Therapeutics in a report on Tuesday, October 13th. Weiss Ratings reissued a “sell (d)” rating on shares of CytomX Therapeutics in a research note on Friday, September 11th. JPMorgan Chase & Co. reduced their price target on CytomX Therapeutics from $12.00 to $11.00 and set an “overweight” rating for the company in a report on Thursday, August 13th. Finally, Zacks Research lowered CytomX Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 19th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $11.90.

CytomX Therapeutics Price Performance

The business has a 50-day moving average of $2.89 and a 200 day moving average of $3.90. The company has a market cap of $514.24 million, a PE ratio of -4.72 and a beta of 2.21.

CytomX Therapeutics (NASDAQ:CTMX) last posted its quarterly earnings data on Thursday, August 6th. The biotechnology company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.01). CytomX Therapeutics had a negative return on equity of 38.46% and a negative net margin of 435.21%. The business had revenue of $1.42 million during the quarter, compared to analysts’ expectations of $12.39 million. On average, equities analysts predict that CytomX Therapeutics, Inc. will post -0.40 EPS for the current fiscal year.

Institutional Trading of CytomX Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the company. Lido Advisors LLC bought a new stake in CytomX Therapeutics during the 1st quarter valued at approximately $49,000. GABELLI & Co INVESTMENT ADVISERS INC. bought a new position in shares of CytomX Therapeutics in the 1st quarter valued at about $52,000. Nierenberg Investment Management Company LLC purchased a new stake in CytomX Therapeutics during the 2nd quarter valued at $47,081. Integrated Wealth Concepts LLC bought a new position in CytomX Therapeutics during the second quarter valued at $47,000. Finally, TRB Wealth Management LLC purchased a new stake in CytomX Therapeutics in the 2nd quarter worth about $50,000. 67.77% of the stock is currently owned by institutional investors.

About CytomX Therapeutics

CytomX Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing cancer medicines designed to be activated selectively within the tumor microenvironment. The company’s approach is intended to improve the precision of treatment by limiting activity in healthy tissues while enabling therapeutic effects at tumor sites.

CytomX’s research is based on its Probody therapeutic platform, which uses molecular masking and tumor-associated protease activity to conditionally activate antibody-based medicines.