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Why Has CytomX Therapeutics Inc. (NASDAQ: CTMX) Inclined So Much?

CytomX Therapeutics Inc. (NASDAQ:CTMX) traded at $1.91 at close of the session on Tuesday, 11/22/22, made an upward move of 11.70% on its previous day’s price.

Looking at the stock we see that its previous close was $1.71 and the beta (5Y monthly) reads 0.38 with the day’s price range being $1.62 – $1.92. In terms of its 52-week price range, CTMX has a high of $7.46 and a low of $1.17. The company’s stock has gained about 44.70% over that past 30 days.

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CytomX Therapeutics Inc. has a market cap of $116.03 million and is expected to release its quarterly earnings report on Nov 08, 2022. Estimates by analysts give the company expected earnings per share (EPS) of -$0.24, with the EPS growth for the year raised at -$1.33 for 2022 and -$0.98 for next year. These figures represent -2.30% and 26.30% growth in EPS for the two years respectively.

Analysts tracking the company’s growth have also given it a consensus growth in revenue estimated at $18.41 million, with a low of $13 million and a high of $25.7 million. The median projection represents growth adding up to -6.70% compared to sales growth for the corresponding quarter a year ago. According to analyst consensus estimates figures, the company’s yearly revenue forecast for 2022 is expected to hit $69.77 million, or 0.30% up from figures reported last year.

There have been 1 upward and no downward revisions for the stock’s EPS in last 7 days, something that reflects the nature of company’s price movement in short term. On the other hand, looking at the outlook for the CTMX stock, short term indicators assign the stock an average of 50% Sell, while medium term indicators assign it an average of 50% Sell. Long term indicators on average place the stock in the category of Hold.

Based on estimates by 10 analysts, where scores have ranged from 1.00 for a strong buy to 5.00 for a strong sell, 7 have rated the CytomX Therapeutics Inc. (CTMX) stock as a Hold, while 1 rate it as a Buy. 1 analyst(s) rate it as overweight while 0 of them rated it as underweight, whereas 1 suggest the stock as a Sell. The stock has an overall rating of Hold and investors could take advantage and scoop up stock of the company.

Looking further, we note the current price level is 43.02% off its SMA20 and 35.48% from its 50-day simple moving average. The RSI (14) is pointing at 77.70 while the volatility over the past week is 13.78% and jumps to 7.97% over the past one month. The beta value is 0.39, while the average true range (ATR) is currently pointing at 0.13. The average price target for the stock over the next 12 months is $3.31, with the estimates having a low of $1.31 and a high of $8.00. These price ends are 31.41% and -318.85% off the current price level respectively, although investors could be excited at the prospect of a -36.13% if the CTMX share price touches on the median price of $2.60.

Let’s briefly compare CytomX Therapeutics Inc. (CTMX) stock to its peers. We find that current price change of 11.70% and -73.87% over the past 12 months for CTMX. Another of its peers Omeros Corporation (OMER) has dropped -1.72% previous session, and was -69.47% down over the past year. In contrast to these companies, both the S&P 500 Index and the Dow Jones Industrial were at 1.36% and 1.18%, respectively, at close of the trading.

Coming back to CytomX Therapeutics Inc. (NASDAQ:CTMX), we note that the average 3-month trading volume was 1.23 million, while that of the preceding 10-day period stands at 5.5 million. Current shares outstanding are 65.91 million.

The insiders hold 0.80% of the company’s shares while institutions hold 58.30%. The data shows that short shares as of Oct 30, 2022, stood at 1.0 million at a short ratio of 2.93. This represents a 1.51% short interest in shares outstanding on Oct 30, 2022. Shares short fall in October from the previous month at 1.2 million. Investors should be excited about this stock as its upside potential is great, with current price pushing the stock -55.89% down in year-to-date price movement.

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