JPMorgan Chase & Co. upgraded shares of CytomX Therapeutics (NASDAQ:CTMX – Free Report) from an underweight rating to a neutral rating in a research report released on Monday morning, MarketBeat.com reports.
CytomX Therapeutics Price Performance
CytomX Therapeutics stock opened at $1.60 on Monday. The stock’s fifty day moving average price is $2.05 and its two-hundred day moving average price is $1.64. CytomX Therapeutics has a one year low of $1.04 and a one year high of $2.86. The firm has a market cap of $108.37 million, a PE ratio of -79.96 and a beta of 1.00.
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 (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.01). The firm had revenue of $26.61 million during the quarter, compared to the consensus estimate of $23.36 million. Sell-side analysts expect that CytomX Therapeutics will post -0.21 earnings per share for the current fiscal year.
Insiders Place Their Bets
Hedge Funds Weigh In On CytomX Therapeutics
Several institutional investors have recently added to or reduced their stakes in CTMX. Congress Park Capital LLC raised its position in shares of CytomX Therapeutics by 112.8% during the fourth 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 during the period. AlphaMark Advisors LLC raised its position in CytomX Therapeutics by 119.8% in the 4th quarter. AlphaMark Advisors LLC now owns 23,183 shares of the biotechnology company’s stock valued at $36,000 after buying an additional 12,635 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in 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 valued at $344,000 after buying an additional 234,970 shares during the last quarter. 67.77% of the stock is owned by institutional investors and hedge funds.
About CytomX Therapeutics
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.
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