CytomX Therapeutics (NASDAQ:CTMX) Lifted to Neutral at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of CytomX Therapeutics (NASDAQ:CTMX) from an underweight rating to a neutral rating in a research note issued to investors on Monday morning, MarketBeat Ratings reports.

CytomX Therapeutics Stock Down 1.8 %

Shares of NASDAQ:CTMX opened at $1.60 on Monday. CytomX Therapeutics has a fifty-two week low of $1.04 and a fifty-two week high of $2.86. The firm has a 50-day simple moving average of $2.05 and a 200 day simple moving average of $1.64. The company has a market cap of $108.37 million, a PE ratio of -79.96 and a beta of 1.00.

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

Insiders Place Their Bets

In other CytomX Therapeutics news, CEO Sean A. Mccarthy sold 20,223 shares of the company’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 transaction, the chief executive officer now owns 524,481 shares in the company, valued at approximately $1,096,165.29. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In the last 90 days, insiders sold 35,024 shares of company stock worth $73,200. Insiders own 7.00% of the company’s stock.

Institutional Trading of CytomX Therapeutics

A number of institutional investors have recently made changes to their positions in the stock. Congress Park Capital LLC lifted its stake in shares of CytomX Therapeutics by 112.8% in the 4th quarter. Congress Park Capital LLC now owns 239,300 shares of the biotechnology company’s stock worth $371,000 after acquiring an additional 126,850 shares during the period. AlphaMark Advisors LLC lifted its stake in shares of CytomX Therapeutics by 119.8% in the 4th quarter. AlphaMark Advisors LLC now owns 23,183 shares of the biotechnology company’s stock worth $36,000 after acquiring an additional 12,635 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of CytomX Therapeutics by 737.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 266,836 shares of the biotechnology company’s stock worth $344,000 after acquiring an additional 234,970 shares during the period. 67.77% of the stock is owned by institutional investors and hedge funds.

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.