Prosight Management LP Boosts Position in CytomX Therapeutics, Inc. (NASDAQ:CTMX)

Prosight Management LP boosted its position in shares of CytomX Therapeutics, Inc. (NASDAQ:CTMX) by 29.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,905,000 shares of the biotechnology company’s stock after purchasing an additional 882,891 shares during the quarter. CytomX Therapeutics makes up 1.1% of Prosight Management LP’s portfolio, making the stock its 22nd biggest holding. Prosight Management LP owned 4.99% of CytomX Therapeutics worth $4,022,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of CTMX. Miller Financial Services LLC acquired a new position in shares of CytomX Therapeutics in the fourth quarter worth $26,000. Traphagen Investment Advisors LLC acquired a new position in shares of CytomX Therapeutics in the fourth quarter worth $31,000. Algert Global LLC acquired a new position in shares of CytomX Therapeutics in the fourth quarter worth $35,000. Aspire Growth Partners LLC acquired a new position in shares of CytomX Therapeutics in the fourth quarter worth $42,000. Finally, Prudential Financial Inc. raised its holdings in shares of CytomX Therapeutics by 76.2% in the fourth quarter. Prudential Financial Inc. now owns 64,300 shares of the biotechnology company’s stock worth $66,000 after acquiring an additional 27,800 shares during the last quarter. 67.77% of the stock is currently owned by hedge funds and other institutional investors.

CytomX Therapeutics Trading Down 4.8%

CytomX Therapeutics stock opened at $2.38 on Thursday. The firm has a market capitalization of $191.88 million, a P/E ratio of 14.00 and a beta of 1.11. The stock has a fifty day moving average price of $0.76 and a 200 day moving average price of $0.88. CytomX Therapeutics, Inc. has a 52 week low of $0.40 and a 52 week high of $2.55.

CytomX Therapeutics (NASDAQ:CTMX) last released its earnings results on Monday, May 12th. The biotechnology company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.18 by $0.09. The firm had revenue of $50.92 million during the quarter, compared to analyst estimates of $35.42 million. CytomX Therapeutics had a negative return on equity of 41.47% and a net margin of 10.96%. During the same period in the prior year, the firm posted $0.17 earnings per share. As a group, equities analysts predict that CytomX Therapeutics, Inc. will post -0.05 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. HC Wainwright reissued a “neutral” rating on shares of CytomX Therapeutics in a report on Friday, March 7th. Piper Sandler assumed coverage on CytomX Therapeutics in a report on Monday, April 14th. They issued an “overweight” rating and a $2.50 price target for the company. Wedbush reissued an “outperform” rating and issued a $6.00 price target (up from $5.00) on shares of CytomX Therapeutics in a report on Monday. Finally, StockNews.com raised CytomX Therapeutics from a “hold” rating to a “buy” rating in a report on Tuesday.

CytomX Therapeutics Profile

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.