CytomX Therapeutics (NASDAQ:CTMX) Share Price Crosses Below 50-Day Moving Average – Here’s What Happened

CytomX Therapeutics, Inc. (NASDAQ:CTMX) shares passed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $0.91 and traded as low as $0.68. CytomX Therapeutics shares last traded at $0.69, with a volume of 946,469 shares.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reissued a “neutral” rating on shares of CytomX Therapeutics in a research report on Tuesday, January 7th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $5.77.

CytomX Therapeutics Price Performance

The stock has a market cap of $54.16 million, a PE ratio of 4.07 and a beta of 1.01. The stock has a 50-day moving average price of $0.91 and a two-hundred day moving average price of $1.05.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of CTMX. Prosight Management LP lifted its position in CytomX Therapeutics by 29.2% during the fourth quarter. Prosight Management LP now owns 3,905,000 shares of the biotechnology company’s stock valued at $4,022,000 after acquiring an additional 882,891 shares during the last quarter. Millennium Management LLC grew its stake in shares of CytomX Therapeutics by 25.8% during the 4th quarter. Millennium Management LLC now owns 3,221,012 shares of the biotechnology company’s stock worth $3,318,000 after purchasing an additional 660,756 shares during the period. Point72 Asset Management L.P. acquired a new position in shares of CytomX Therapeutics in the fourth quarter worth about $2,730,000. Assenagon Asset Management S.A. grew its holdings in CytomX Therapeutics by 32.8% in the third quarter. Assenagon Asset Management S.A. now owns 1,644,168 shares of the biotechnology company’s stock valued at $1,940,000 after purchasing an additional 405,669 shares during the period. Finally, Jacobs Levy Equity Management Inc. grew its position in shares of CytomX Therapeutics by 1.5% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,547,215 shares of the biotechnology company’s stock valued at $1,594,000 after purchasing an additional 23,139 shares during the period. Institutional investors 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.