CytomX Therapeutics (NASDAQ:CTMX) Shares Cross Below 50 Day Moving Average – Should You Sell?

CytomX Therapeutics, Inc. (NASDAQ:CTMX)’s stock price 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 traded.

Analysts Set New Price Targets

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 given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $5.77.

CytomX Therapeutics Stock Down 3.6 %

The company’s fifty day simple moving average is $0.97 and its two-hundred day simple moving average is $1.07. The company has a market capitalization of $62.32 million, a price-to-earnings ratio of 4.68 and a beta of 1.01.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Prosight Management LP increased its stake in shares of CytomX Therapeutics by 29.2% during the 4th quarter. Prosight Management LP now owns 3,905,000 shares of the biotechnology company’s stock worth $4,022,000 after purchasing an additional 882,891 shares during the last quarter. Millennium Management LLC grew 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 buying an additional 660,756 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in CytomX Therapeutics in the 4th quarter valued at about $2,730,000. Assenagon Asset Management S.A. grew its stake in CytomX Therapeutics by 32.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,644,168 shares of the biotechnology company’s stock valued at $1,940,000 after buying an additional 405,669 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its stake in CytomX Therapeutics by 1.5% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,547,215 shares of the biotechnology company’s stock valued at $1,594,000 after buying an additional 23,139 shares during the last quarter. Institutional investors own 67.77% of the company’s stock.

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.