Ghost Tree Capital LLC Makes New Investment in Ambrx Biopharma Inc. (NYSE:AMAM)

Ghost Tree Capital LLC acquired a new position in shares of Ambrx Biopharma Inc. (NYSE:AMAM) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 250,000 shares of the company’s stock, valued at approximately $2,230,000. Ghost Tree Capital LLC owned approximately 0.65% of Ambrx Biopharma as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AMAM. Renaissance Technologies LLC grew its position in Ambrx Biopharma by 91.5% during the 1st quarter. Renaissance Technologies LLC now owns 22,600 shares of the company’s stock worth $93,000 after purchasing an additional 10,800 shares in the last quarter. FMR LLC grew its holdings in shares of Ambrx Biopharma by 0.8% during the 2nd quarter. FMR LLC now owns 3,857,679 shares of the company’s stock valued at $10,223,000 after acquiring an additional 32,320 shares in the last quarter. Royal Bank of Canada purchased a new position in shares of Ambrx Biopharma during the 3rd quarter valued at $46,000. Alpine Global Management LLC purchased a new position in shares of Ambrx Biopharma during the 4th quarter valued at $106,000. Finally, B. Riley Wealth Advisors Inc. purchased a new position in shares of Ambrx Biopharma during the 4th quarter valued at $45,000. 77.28% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AMAM has been the topic of several research analyst reports. B. Riley initiated coverage on shares of Ambrx Biopharma in a report on Tuesday, June 13th. They set a “buy” rating and a $26.00 price target on the stock. Oppenheimer initiated coverage on shares of Ambrx Biopharma in a report on Thursday, June 1st. They set an “outperform” rating and a $30.00 price target on the stock. Royal Bank of Canada started coverage on shares of Ambrx Biopharma in a report on Monday, July 31st. They set an “outperform” rating and a $29.00 price target on the stock. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $25.00 price objective on shares of Ambrx Biopharma in a report on Wednesday, August 16th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.33.

Ambrx Biopharma Stock Down 4.5 %

Ambrx Biopharma stock traded down $0.58 on Friday, reaching $12.21. 224,961 shares of the stock were exchanged, compared to its average volume of 286,045. Ambrx Biopharma Inc. has a twelve month low of $0.38 and a twelve month high of $16.86. The firm has a fifty day moving average price of $14.55 and a two-hundred day moving average price of $12.33.

Ambrx Biopharma (NYSE:AMAM) last released its earnings results on Wednesday, August 9th. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.23. The firm had revenue of $1.12 million for the quarter, compared to analyst estimates of $1.50 million. As a group, analysts forecast that Ambrx Biopharma Inc. will post -1.24 earnings per share for the current year.

Ambrx Biopharma Profile

Ambrx Biopharma Inc, a clinical-stage biologics company, discovers and develops engineered precision biologics using its proprietary expanded genetic code technology platform. The company's lead product candidate is ARX788, an anti-HER2 antibody-drug conjugate (ADC), which is investigated in various clinical trials for the treatment of breast cancer, gastric/gastroesophageal junction cancer, and other solid tumors, including ongoing Phase 2/3 clinical trials for the treatment of HER2-positive metastatic breast cancer and gastric cancer.