CytomX Therapeutics, Inc. (NASDAQ:CTMX) Sees Significant Decline in Short Interest

CytomX Therapeutics, Inc. (NASDAQ:CTMX) saw a large drop in short interest in the month of March. As of March 31st, there was short interest totalling 3,320,000 shares, a drop of 5.9% from the March 15th total of 3,530,000 shares. Based on an average trading volume of 864,800 shares, the short-interest ratio is currently 3.8 days.

CytomX Therapeutics Trading Down 5.6 %

Shares of NASDAQ CTMX opened at $1.86 on Wednesday. CytomX Therapeutics has a 52 week low of $1.04 and a 52 week high of $2.86. The firm has a 50-day moving average price of $2.03 and a 200 day moving average price of $1.62.

CytomX Therapeutics (NASDAQ:CTMX) last announced its quarterly earnings data on Monday, March 11th. The biotechnology company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.02 by ($0.01). The company had revenue of $26.61 million for the quarter, compared to analysts’ expectations of $23.36 million. Analysts anticipate that CytomX Therapeutics will post -0.21 EPS for the current fiscal year.

Insider Transactions at CytomX Therapeutics

In related news, CEO Sean A. Mccarthy sold 20,223 shares of the firm’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $2.09, for a total value of $42,266.07. Following the completion of the sale, the chief executive officer now owns 524,481 shares in the company, valued at $1,096,165.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last quarter, insiders sold 35,024 shares of company stock worth $73,200. Company insiders own 7.00% of the company’s stock.

Hedge Funds Weigh In On CytomX Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CTMX. Millennium Management LLC raised its position in CytomX Therapeutics by 223.0% during the fourth quarter. Millennium Management LLC now owns 1,719,811 shares of the biotechnology company’s stock worth $2,752,000 after acquiring an additional 1,187,298 shares during the last quarter. Renaissance Technologies LLC raised its position in CytomX Therapeutics by 62.3% during the second quarter. Renaissance Technologies LLC now owns 1,454,261 shares of the biotechnology company’s stock worth $2,661,000 after acquiring an additional 558,361 shares during the last quarter. AQR Capital Management LLC acquired a new position in CytomX Therapeutics during the second quarter worth about $717,000. Two Sigma Investments LP raised its position in CytomX Therapeutics by 106.9% during the fourth quarter. Two Sigma Investments LP now owns 740,724 shares of the biotechnology company’s stock worth $1,185,000 after acquiring an additional 382,763 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in CytomX Therapeutics by 55.0% during the first quarter. Dimensional Fund Advisors LP now owns 809,140 shares of the biotechnology company’s stock worth $2,161,000 after acquiring an additional 287,113 shares during the last quarter. Institutional investors and hedge funds 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.