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

CytomX Therapeutics, Inc. (NASDAQ:CTMX - Get Free Report) experienced a substantial rise in its short interest throughout March. By March 15th, the total short interest reached 9,000,000 shares, marking an increase of 91.5% compared to the end of February when it was 4,700,000 shares. This indicates that about 12.4% of the company's shares are currently sold short. Given the average daily volume of 1,790,000 shares, the current short-interest ratio stands at 5.0 days.

Recent Stock Movement

On Friday, CytomX Therapeutics saw its stock price increase by 1.9%, rising by $0.01 to reach $0.63. The trading volume for the day amounted to 831,077 shares, in comparison to its average trading volume of 2,635,887 shares. Over the past year, the stock has hit a low of $0.56 and a high of $5.85. The 50-day moving average price is currently $0.75, while the 200-day moving average is $0.97. The company's market capitalization stands at $50.32 million, with a price-to-earnings (PE) ratio of 3.70 and a beta of 1.05.

Earnings Report Insights

CytomX Therapeutics recently disclosed its quarterly earnings data on March 6th. The company reported earnings per share (EPS) of $0.22 for the quarter, surpassing the consensus estimate of a loss of ($0.23) by $0.45. The revenue for the quarter was $38.09 million, significantly higher than the consensus estimate of $13.53 million. The company reported a net margin of 10.96%, but it also noted a negative return on equity of 41.47%. Analysts are predicting that CytomX Therapeutics will report an EPS of -0.05 for the current year.

Analyst Opinions

Several research reports have recently been focused on CytomX Therapeutics. StockNews.com upgraded the stock from a "hold" to a "buy" rating on March 10th. On March 7th, HC Wainwright maintained a "neutral" rating on the shares, while Wedbush reaffirmed an "outperform" rating and set a target price of $5.00. Currently, three investment analysts have issued a hold rating, whereas four analysts have issued a buy rating, leading to a consensus rating of "Moderate Buy" with a consensus price target of $5.02 according to MarketBeat data.

Investment Activity from Hedge Funds

Recent activity among hedge funds reveals a trend of increasing stakes in CytomX Therapeutics. In the fourth quarter, Miller Financial Services LLC acquired a new position in the company worth approximately $26,000. Similarly, Traphagen Investment Advisors LLC invested about $31,000, while Algert Global LLC added shares valued at around $35,000. Velan Capital Investment Management LP and Aspire Growth Partners LLC also purchased new positions valued at approximately $36,000 and $42,000, respectively. Currently, hedge funds and other institutional investors hold 67.77% of the company’s stock.

About CytomX Therapeutics

CytomX Therapeutics, Inc. is an innovative biopharmaceutical company focused on oncology. It specializes in developing conditionally activated biologics that are targeted to the tumor microenvironment. The company employs advanced technology platforms aimed at enhancing the efficacy and safety of cancer treatments, including antibody-drug conjugates (ADCs) and T-cell engagers (TCEs), while also working on immune modulators in preclinical stages for areas beyond oncology.

CytomX, Stocks, Short, Investors, Earnings