CytomX Therapeutics (NASDAQ:CTMX) Stock Price Passes Below 50 Day Moving Average – Time to Sell?

CytomX Therapeutics, Inc. (NASDAQ:CTMX)’s share price passed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $4.86 and traded as low as $4.43. CytomX Therapeutics shares last traded at $4.45, with a volume of 3,356,973 shares changing hands.

Wall Street Analysts Forecast Growth

CTMX has been the subject of several research analyst reports. Guggenheim lifted their target price on CytomX Therapeutics from $10.00 to $15.00 and gave the stock a “buy” rating in a research report on Wednesday, March 18th. Wedbush upped their price target on shares of CytomX Therapeutics from $6.00 to $11.00 and gave the stock an “outperform” rating in a report on Tuesday, March 17th. Piper Sandler raised their price target on shares of CytomX Therapeutics from $10.00 to $12.00 and gave the stock an “overweight” rating in a research note on Monday, March 23rd. Weiss Ratings lowered shares of CytomX Therapeutics from a “hold (c-)” rating to a “sell (d)” rating in a report on Thursday, March 19th. Finally, Jefferies Financial Group boosted their price objective on shares of CytomX Therapeutics from $8.00 to $16.00 and gave the company a “buy” rating in a research report on Wednesday, March 18th. Nine analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, CytomX Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $13.44.

CytomX Therapeutics Trading Down 3.5%

The firm has a market capitalization of $757.35 million, a P/E ratio of -111.25 and a beta of 2.49. The stock has a 50-day simple moving average of $4.86 and a two-hundred day simple moving average of $4.47.

CytomX Therapeutics (NASDAQ:CTMX) last posted its quarterly earnings results on Monday, March 16th. The biotechnology company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.14). The firm had revenue of $0.66 million for the quarter, compared to the consensus estimate of $7.33 million. CytomX Therapeutics had a negative return on equity of 19.77% and a negative net margin of 22.79%. As a group, research analysts expect that CytomX Therapeutics, Inc. will post -0.56 EPS for the current year.

Insider Buying and Selling at CytomX Therapeutics

In other CytomX Therapeutics news, CEO Sean A. Mccarthy sold 118,969 shares of the stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $6.42, for a total transaction of $763,780.98. Following the transaction, the chief executive officer directly owned 1,078,922 shares in the company, valued at $6,926,679.24. This represents a 9.93% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Christopher Ogden sold 19,323 shares of the firm’s stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $6.42, for a total transaction of $124,053.66. Following the transaction, the chief financial officer directly owned 296,948 shares in the company, valued at $1,906,406.16. This trade represents a 6.11% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 191,063 shares of company stock valued at $1,226,624 in the last ninety days. 6.60% of the stock is owned by insiders.

Hedge Funds Weigh In On CytomX Therapeutics

Institutional investors have recently bought and sold shares of the business. Pictet Asset Management Holding SA bought a new position in CytomX Therapeutics in the first quarter worth approximately $78,000. Cannon Global Investment Management LLC bought a new stake in CytomX Therapeutics during the 1st quarter valued at $452,000. Hsbc Holdings PLC bought a new stake in CytomX Therapeutics during the 4th quarter valued at $52,000. Seven Fleet Capital Management LP purchased a new position in shares of CytomX Therapeutics in the 4th quarter valued at $208,000. Finally, Empowered Funds LLC purchased a new position in shares of CytomX Therapeutics in the 4th quarter valued at $133,000. 67.77% of the stock is owned by hedge funds and other institutional investors.

About CytomX Therapeutics

CytomX Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of next-generation therapeutics based on its proprietary Probody® platform. The company engineers masked antibody prodrugs that remain inactive in healthy tissue but are selectively activated in the tumor microenvironment. This approach is designed to enhance the safety and tolerability of antibody-based therapies, particularly those targeting immuno-oncology pathways.

At the core of CytomX’s pipeline is Pacmilimab (CX-072), an anti–PD-L1 Probody therapeutic currently undergoing clinical evaluation for multiple solid tumor indications.