CytomX Therapeutics (NASDAQ:CTMX) Trading Down 3.8% – Time to Sell?

CytomX Therapeutics, Inc. (NASDAQ:CTMX)’s share price fell 3.8% during mid-day trading on Friday . The stock traded as low as $3.12 and last traded at $3.16. 1,179,669 shares changed hands during trading, a decline of 65% from the average session volume of 3,357,099 shares. The stock had previously closed at $3.28.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CTMX. Barclays began coverage on CytomX Therapeutics in a research note on Wednesday, September 17th. They issued an “overweight” rating and a $3.50 price target for the company. Oppenheimer initiated coverage on shares of CytomX Therapeutics in a research note on Thursday, July 31st. They issued an “outperform” rating and a $7.00 target price for the company. Cantor Fitzgerald assumed coverage on shares of CytomX Therapeutics in a report on Monday, September 22nd. They issued an “overweight” rating and a $6.00 target price on the stock. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of CytomX Therapeutics in a research report on Saturday, September 27th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $5.42.

CytomX Therapeutics Trading Up 0.6%

The company has a market capitalization of $544.20 million, a price-to-earnings ratio of 5.89 and a beta of 2.27. The stock’s 50 day moving average price is $2.25 and its 200 day moving average price is $1.87.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in CTMX. Orbimed Advisors LLC acquired a new stake in shares of CytomX Therapeutics in the 2nd quarter valued at approximately $19,208,000. Commodore Capital LP bought a new stake in CytomX Therapeutics during the second quarter worth $17,462,000. Perceptive Advisors LLC acquired a new stake in CytomX Therapeutics in the second quarter valued at $15,876,000. Franklin Resources Inc. bought a new position in shares of CytomX Therapeutics in the 2nd quarter valued at about $13,096,000. Finally, Vivo Capital LLC bought a new position in shares of CytomX Therapeutics in the 2nd quarter valued at about $13,096,000. Institutional investors and hedge funds own 67.77% of the company’s stock.

CytomX Therapeutics Company 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.