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

CytomX Therapeutics, Inc. (NASDAQ:CTMX) crossed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $0.97 and traded as low as $0.79. CytomX Therapeutics shares last traded at $0.80, with a volume of 884,253 shares changing hands.

Analyst Ratings Changes

Separately, HC Wainwright reaffirmed a “neutral” rating on shares of CytomX Therapeutics in a research note on Tuesday, January 7th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $5.77.

CytomX Therapeutics Price Performance

The firm’s fifty day simple moving average is $0.95 and its 200 day simple moving average is $1.06. The company has a market capitalization of $62.67 million, a price-to-earnings ratio of 4.71 and a beta of 1.01.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Assenagon Asset Management S.A. lifted its position in shares of CytomX Therapeutics by 32.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,644,168 shares of the biotechnology company’s stock worth $1,940,000 after buying an additional 405,669 shares during the period. US Bancorp DE acquired a new position in CytomX Therapeutics during the third quarter worth $40,000. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of CytomX Therapeutics by 10.4% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 280,593 shares of the biotechnology company’s stock valued at $331,000 after acquiring an additional 26,373 shares during the period. FMR LLC boosted its stake in shares of CytomX Therapeutics by 17.3% in the 3rd quarter. FMR LLC now owns 284,307 shares of the biotechnology company’s stock valued at $335,000 after purchasing an additional 41,949 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its holdings in shares of CytomX Therapeutics by 1.1% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,524,076 shares of the biotechnology company’s stock worth $1,798,000 after purchasing an additional 16,359 shares during the last quarter. 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.