Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. CytomX Therapeutics Inc shares valued at $42,175 were sold by McCarthy Sean A. on Mar 19 ’24. At $2.09 per share, McCarthy Sean A. sold 20,223 shares. The insider’s holdings dropped to 524,481 shares worth approximately $1.1 million following the completion of this transaction.
Also, BELVIN MARCIA sold 12,795 shares, netting a total of over 26,684 in proceeds. Following the sale of shares at $2.09 each, the insider now holds 168,579 shares.
Before that, Landau Jeffrey B had sold 6,562 shares from its account. In a trade valued at $13,685, the Chief Business Officer traded CytomX Therapeutics Inc shares for $2.09 each. Upon closing the transaction, the insider’s holdings decreased to 6,562 shares, worth approximately $0.23 million.
As published in a research note from BMO Capital Markets on November 14, 2022, CytomX Therapeutics Inc [CTMX] has been rated down from an Outperform to a Market perform and the price target has been revised to $2.60 from $3. Analysts at Wedbush downgraded the stock from ‘”an Outperform”‘ to ‘”a Neutral”‘ outlook in a report released in early July. As of July 07, 2022, Piper Sandler has decreased its “an Overweight” rating to a “Neutral” for CTMX. Earlier on July 07, 2022, Mizuho downgraded its rating. Their new recommendation was “a Neutral” for CTMX stock which previously was a “a Buy”.
Analyzing CTMX Stock Performance
During the last five days, there has been a drop of approximately -2.33%. Over the course of the year, CytomX Therapeutics Inc shares have jumped approximately 35.48%. Shares of the company reached a 52-week high of $2.86 on 03/04/24 and a 52-week low of $1.38 on 02/13/24. A 50-day SMA is recorded $1.97, while a 200-day SMA reached $1.59. Nevertheless, trading volume fell to 2.57 million shares from 0.2 million shares the previous day.
Support And Resistance Levels for CytomX Therapeutics Inc (CTMX)
According to the 24-hour chart, there is a support level at 1.90, which, if violated, would cause prices to drop to 1.69. In the upper region, resistance lies at 2.21. The next price resistance is at 2.31. RSI (Relative Strength Index) is 49.73 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.06, which suggests the price will decrease in the coming days. Percent R is at 41.18%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is CytomX Therapeutics Inc subject to short interest?
Stocks of CytomX Therapeutics Inc saw a sharp rise in short interest on Mar 15, 2024 jumping by 2.23 million shares to 3.53 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 1.3 million shares. A jump of 63.17% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 1.97 of the overall float, the days-to-cover ratio (short ratio) jumped to 1.97.
