Acadian Asset Management LLC Grows Stake in CytomX Therapeutics, Inc. $CTMX

Acadian Asset Management LLC boosted its position in CytomX Therapeutics, Inc. (NASDAQ:CTMX) by 3.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,234,035 shares of the biotechnology company’s stock after purchasing an additional 96,989 shares during the period. Acadian Asset Management LLC owned about 4.01% of CytomX Therapeutics worth $2,053,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Millennium Management LLC increased its stake in CytomX Therapeutics by 25.8% in the 4th quarter. Millennium Management LLC now owns 3,221,012 shares of the biotechnology company’s stock valued at $3,318,000 after purchasing an additional 660,756 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in CytomX Therapeutics during the fourth quarter worth $2,730,000. Woodline Partners LP purchased a new position in CytomX Therapeutics during the first quarter worth $1,054,000. RA Capital Management L.P. purchased a new position in CytomX Therapeutics during the first quarter worth $636,000. Finally, Assenagon Asset Management S.A. increased its position in CytomX Therapeutics by 18.6% during the first quarter. Assenagon Asset Management S.A. now owns 711,454 shares of the biotechnology company’s stock worth $452,000 after buying an additional 111,604 shares in the last quarter. 67.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Oppenheimer started coverage on CytomX Therapeutics in a research report on Thursday, July 31st. They set an “outperform” rating and a $7.00 price target for the company. Four equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $5.75.

CytomX Therapeutics Stock Down 1.5%

Shares of NASDAQ:CTMX opened at $1.96 on Wednesday. The company has a market cap of $323.22 million, a P/E ratio of 3.50 and a beta of 2.18. CytomX Therapeutics, Inc. has a 52 week low of $0.40 and a 52 week high of $3.10. The business has a fifty day simple moving average of $2.19 and a 200-day simple moving average of $1.69.

About CytomX Therapeutics

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.