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

CytomX Therapeutics (NASDAQ:CTMX - Get Free Report) was upgraded by investment analysts at JPMorgan Chase & Co. from an "underweight" rating to a "neutral" rating in a research note issued on Monday, Marketbeat.com reports.

CytomX Therapeutics Price Performance

Shares of CTMX stock remained flat at $1.67 during trading hours on Monday. The stock had a trading volume of 257,894 shares, compared to its average volume of 847,565. The company has a market capitalization of $113.11 million, a price-to-earnings ratio of -85.71 and a beta of 1.01. CytomX Therapeutics has a 1-year low of $1.04 and a 1-year high of $2.86. The stock has a fifty day moving average price of $2.04 and a 200 day moving average price of $1.63.

CytomX Therapeutics (NASDAQ:CTMX - Get Free Report) last issued its quarterly earnings results on Monday, March 11th. The biotechnology company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.01). The company had revenue of $26.61 million during the quarter, compared to analysts' expectations of $23.36 million. On average, research analysts expect that CytomX Therapeutics will post -0.21 EPS for the current year.

Insiders Place Their Bets

In other CytomX Therapeutics news, CEO Sean A. Mccarthy sold 20,223 shares of the stock in a transaction on Tuesday, March 19th. The stock was 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 $1,096,165.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Over the last quarter, insiders sold 35,024 shares of company stock worth $73,200. 7.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

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

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.