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

CytomX Therapeutics, Inc. (NASDAQ:CTMX - Get Free Report)'s share price crossed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $1.14 and traded as low as $1.06. CytomX Therapeutics shares last traded at $1.09, with a volume of 2,910,989 shares.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reiterated a "neutral" rating on shares of CytomX Therapeutics in a research report on Friday, September 13th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $5.77.

CytomX Therapeutics Trading Up 9.0 %

The stock has a market capitalization of $85.15 million, a PE ratio of 6.41 and a beta of 1.06. The business has a fifty day moving average price of $1.14 and a 200-day moving average price of $1.47.

CytomX Therapeutics (NASDAQ:CTMX - Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The biotechnology company reported ($0.08) EPS for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.01). CytomX Therapeutics had a net margin of 9.27% and a negative return on equity of 27.44%. The business had revenue of $25.12 million for the quarter, compared to the consensus estimate of $21.79 million. During the same quarter in the previous year, the business earned ($0.02) earnings per share. On average, equities analysts anticipate that CytomX Therapeutics, Inc. will post -0.29 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CytomX Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. US Bancorp DE purchased a new stake in shares of CytomX Therapeutics during the third quarter valued at $40,000. SG Americas Securities LLC bought a new position in CytomX Therapeutics in the 1st quarter worth approximately $57,000. XTX Topco Ltd grew its holdings in CytomX Therapeutics by 382.6% during the 2nd quarter. XTX Topco Ltd now owns 60,586 shares of the biotechnology company's stock valued at $74,000 after buying an additional 48,033 shares in the last quarter. Forefront Analytics LLC raised its position in shares of CytomX Therapeutics by 206.7% during the second quarter. Forefront Analytics LLC now owns 64,065 shares of the biotechnology company's stock valued at $78,000 after buying an additional 43,176 shares during the last quarter. Finally, Cubist Systematic Strategies LLC boosted its position in shares of CytomX Therapeutics by 96.6% during the second quarter. Cubist Systematic Strategies LLC now owns 82,054 shares of the biotechnology company's stock worth $100,000 after acquiring an additional 40,309 shares during the last quarter. 67.77% of the stock is currently owned by institutional investors.

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.