Brokerages Set Ambrx Biopharma Inc. (NYSE:AMAM) PT at $24.13

Shares of Ambrx Biopharma Inc. (NYSE:AMAM) have been given a consensus rating of “Moderate Buy” by the eight ratings firms that are covering the firm, MarketBeat.com reports. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $24.13.

A number of brokerages have weighed in on AMAM. Robert W. Baird reaffirmed a “neutral” rating and issued a $28.00 price target on shares of Ambrx Biopharma in a research note on Tuesday, January 16th. Cantor Fitzgerald reissued an “overweight” rating on shares of Ambrx Biopharma in a research report on Friday, January 12th. B. Riley lowered shares of Ambrx Biopharma from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $26.00 to $28.00 in a research report on Tuesday, January 9th. Finally, JMP Securities reissued a “market perform” rating on shares of Ambrx Biopharma in a research report on Wednesday, January 10th.

Ambrx Biopharma Trading Up 0.1 %

Shares of NYSE:AMAM opened at $28.00 on Friday. The company has a 50 day moving average of $27.91 and a 200-day moving average of $19.11. Ambrx Biopharma has a one year low of $6.55 and a one year high of $28.15.

Institutional Investors Weigh In On Ambrx Biopharma

Institutional investors and hedge funds have recently bought and sold shares of the company. B. Riley Wealth Advisors Inc. bought a new position in shares of Ambrx Biopharma in the fourth quarter worth about $45,000. Royal Bank of Canada acquired a new stake in Ambrx Biopharma during the 3rd quarter valued at approximately $46,000. Renaissance Technologies LLC increased its position in Ambrx Biopharma by 481.8% during the 3rd quarter. Renaissance Technologies LLC now owns 64,000 shares of the company’s stock valued at $69,000 after purchasing an additional 53,000 shares during the period. Tower Research Capital LLC TRC increased its position in Ambrx Biopharma by 2,288.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 5,614 shares of the company’s stock valued at $80,000 after purchasing an additional 5,379 shares during the period. Finally, China Universal Asset Management Co. Ltd. acquired a new stake in Ambrx Biopharma during the 4th quarter valued at approximately $104,000. Institutional investors own 77.28% of the company’s stock.

About Ambrx Biopharma

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.