Ambrx Biopharma Inc. (NYSE:AMAM – Get Free Report)’s share price gapped down before the market opened on Wednesday after Royal Bank of Canada lowered their price target on the stock from $33.00 to $32.00. The stock had previously closed at $9.01, but opened at $8.74. Royal Bank of Canada currently has an outperform rating on the stock. Ambrx Biopharma shares last traded at $8.98, with a volume of 44,497 shares.
AMAM has been the topic of a number of other reports. JMP Securities initiated coverage on Ambrx Biopharma in a report on Monday, September 25th. They issued an “outperform” rating and a $15.00 price objective on the stock. Cantor Fitzgerald restated an “overweight” rating and issued a $25.00 price target on shares of Ambrx Biopharma in a report on Monday, October 23rd. BTIG Research assumed coverage on shares of Ambrx Biopharma in a research note on Tuesday, September 12th. They set a “buy” rating and a $26.00 price objective for the company. Finally, The Goldman Sachs Group increased their price objective on shares of Ambrx Biopharma from $6.00 to $10.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 13th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Ambrx Biopharma currently has an average rating of “Moderate Buy” and a consensus price target of $22.00.
Insider Buying and Selling
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the stock. Darwin Global Management Ltd. raised its holdings in shares of Ambrx Biopharma by 49.0% during the first quarter. Darwin Global Management Ltd. now owns 11,304,573 shares of the company’s stock valued at $100,837,000 after buying an additional 3,720,084 shares during the last quarter. Cormorant Asset Management LP boosted its position in Ambrx Biopharma by 13.1% during the 2nd quarter. Cormorant Asset Management LP now owns 9,616,155 shares of the company’s stock worth $158,282,000 after acquiring an additional 1,116,155 shares during the period. Commodore Capital LP bought a new position in shares of Ambrx Biopharma in the first quarter worth $42,847,000. FMR LLC increased its holdings in shares of Ambrx Biopharma by 0.8% during the second quarter. FMR LLC now owns 3,857,679 shares of the company’s stock valued at $10,223,000 after purchasing an additional 32,320 shares during the period. Finally, Federated Hermes Inc. bought a new stake in shares of Ambrx Biopharma during the third quarter valued at about $27,552,000. 77.28% of the stock is currently owned by institutional investors.
Ambrx Biopharma Price Performance
The firm’s fifty day moving average is $10.75 and its two-hundred day moving average is $13.01.
Ambrx Biopharma Company Profile
Ambrx Biopharma Inc, a clinical stage biopharmaceutical company, focuses on discovering and developing antibody drug conjugates (ADCs) and other engineered therapies to modulate the immune system. It focuses on portfolio of clinical and preclinical programs designed to optimize efficacy and safety in multiple cancer indications, including ARX517, its proprietary antibody-drug conjugate (ADC) targeting the prostate-specific membrane antigen (PSMA) and ARX788, its proprietary ADC targeting HER2.
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