Two Sigma Investments LP Cuts Stock Position in CytomX Therapeutics, Inc. (NASDAQ:CTMX)

Two Sigma Investments LP decreased its holdings in shares of CytomX Therapeutics, Inc. (NASDAQ:CTMX) by 32.0% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 320,767 shares of the biotechnology company’s stock after selling 150,701 shares during the period. Two Sigma Investments LP owned approximately 0.41% of CytomX Therapeutics worth $330,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. JPMorgan Chase & Co. grew its stake in shares of CytomX Therapeutics by 288,736.3% during the fourth quarter. JPMorgan Chase & Co. now owns 811,630 shares of the biotechnology company’s stock worth $836,000 after acquiring an additional 811,349 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of CytomX Therapeutics by 32.7% during the fourth quarter. Renaissance Technologies LLC now owns 1,346,800 shares of the biotechnology company’s stock worth $1,387,000 after acquiring an additional 331,800 shares during the last quarter. Millennium Management LLC grew its stake in shares of CytomX Therapeutics by 25.8% during the fourth quarter. Millennium Management LLC now owns 3,221,012 shares of the biotechnology company’s stock worth $3,318,000 after acquiring an additional 660,756 shares during the last quarter. Prudential Financial Inc. grew its stake in shares of CytomX Therapeutics by 76.2% during 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. Finally, Northern Trust Corp grew its stake in shares of CytomX Therapeutics by 16.0% during the fourth quarter. Northern Trust Corp now owns 150,632 shares of the biotechnology company’s stock worth $155,000 after acquiring an additional 20,746 shares during the last quarter. Hedge funds and other institutional investors own 67.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on CTMX shares. HC Wainwright upgraded CytomX Therapeutics from a “neutral” rating to a “buy” rating and set a $5.00 price target on the stock in a research note on Thursday, May 15th. Piper Sandler boosted their price target on CytomX Therapeutics from $2.50 to $5.00 and gave the company an “overweight” rating in a report on Thursday, May 15th. 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, May 12th. Finally, Wall Street Zen raised CytomX Therapeutics from a “hold” rating to a “buy” rating in a report on Tuesday, May 13th.

CytomX Therapeutics Trading Up 2.7%

Shares of NASDAQ:CTMX opened at $2.70 on Wednesday. CytomX Therapeutics, Inc. has a 12-month low of $0.40 and a 12-month high of $2.88. The company has a market capitalization of $217.68 million, a PE ratio of 15.88 and a beta of 2.11. The business has a 50 day moving average of $1.42 and a two-hundred day moving average of $1.06.

CytomX Therapeutics (NASDAQ:CTMX) last announced its quarterly earnings results on Monday, May 12th. The biotechnology company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.09. The company had revenue of $50.92 million during the quarter, compared to the consensus estimate 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 previous year, the company posted $0.17 earnings per share. Equities research analysts predict that CytomX Therapeutics, Inc. will post -0.05 earnings per share for the current fiscal year.

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.