Y Intercept Hong Kong Ltd Takes Position in CytomX Therapeutics, Inc. $CTMX

Y Intercept Hong Kong Ltd bought a new stake in CytomX Therapeutics, Inc. (NASDAQ:CTMX) in the 1st quarter, according to its most recent filing with the SEC. The fund bought 167,514 shares of the biotechnology company’s stock, valued at approximately $787,000. Y Intercept Hong Kong Ltd owned 0.10% of CytomX Therapeutics at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in CTMX. Wells Fargo & Company MN grew its position in CytomX Therapeutics by 83.2% during the fourth quarter. Wells Fargo & Company MN now owns 6,605 shares of the biotechnology company’s stock valued at $28,000 after buying an additional 3,000 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of CytomX Therapeutics in the fourth quarter worth about $35,000. May Hill Capital LLC purchased a new stake in shares of CytomX Therapeutics during the 4th quarter worth about $46,000. Hsbc Holdings PLC purchased a new stake in shares of CytomX Therapeutics during the 4th quarter worth about $52,000. Finally, Bank of Nova Scotia purchased a new stake in shares of CytomX Therapeutics during the 4th quarter worth about $58,000. 67.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CTMX has been the subject of several recent analyst reports. Wall Street Zen upgraded CytomX Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 9th. Wolfe Research assumed coverage on CytomX Therapeutics in a research report on Tuesday, May 19th. They set an “outperform” rating and a $6.00 price target on the stock. Wedbush raised their price objective on CytomX Therapeutics from $6.00 to $11.00 and gave the company an “outperform” rating in a report on Tuesday, March 17th. Barclays boosted their price objective on CytomX Therapeutics from $10.00 to $16.00 and gave the company an “overweight” rating in a research report on Thursday, March 19th. Finally, Piper Sandler upped their target price on CytomX Therapeutics from $10.00 to $12.00 and gave the stock an “overweight” rating in a research note on Monday, March 23rd. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $12.10.

CytomX Therapeutics Price Performance

NASDAQ CTMX opened at $3.76 on Monday. The stock’s 50 day simple moving average is $3.52 and its 200-day simple moving average is $4.40. The company has a market cap of $639.91 million, a PE ratio of -9.17 and a beta of 2.08. CytomX Therapeutics, Inc. has a 1-year low of $1.72 and a 1-year high of $8.21.

CytomX Therapeutics (NASDAQ:CTMX) last issued its quarterly earnings results on Thursday, May 7th. The biotechnology company reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.04. CytomX Therapeutics had a negative return on equity of 36.61% and a negative net margin of 166.40%.The firm had revenue of $10.26 million during the quarter, compared to analysts’ expectations of $4.68 million. On average, equities research analysts anticipate that CytomX Therapeutics, Inc. will post -0.45 EPS for the current fiscal year.

About CytomX Therapeutics

CytomX Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of next-generation therapeutics based on its proprietary Probody® platform. The company engineers masked antibody prodrugs that remain inactive in healthy tissue but are selectively activated in the tumor microenvironment. This approach is designed to enhance the safety and tolerability of antibody-based therapies, particularly those targeting immuno-oncology pathways.

At the core of CytomX’s pipeline is Pacmilimab (CX-072), an anti–PD-L1 Probody therapeutic currently undergoing clinical evaluation for multiple solid tumor indications.