Ambrx Biopharma Inc. (NYSE:AMAM) Major Shareholder Buys $2,487,500.00 in Stock

Ambrx Biopharma Inc. (NYSE:AMAM – Get Rating) major shareholder Cormorant Asset Management, Lp acquired 250,000 shares of the business’s stock in a transaction dated Tuesday, March 14th. The stock was purchased at an average price of $9.95 per share, with a total value of $2,487,500.00. Following the completion of the transaction, the insider now directly owns 52,750,000 shares of the company’s stock, valued at approximately $524,862,500. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Cormorant Asset Management, Lp also recently made the following trade(s):

• On Thursday, March 16th, Cormorant Asset Management, Lp acquired 500,000 shares of Ambrx Biopharma stock. The stock was purchased at an average price of $10.15 per share, with a total value of $5,075,000.00.

Ambrx Biopharma Trading Down 11.8 %

Shares of Ambrx Biopharma stock opened at $8.93 on Friday. Ambrx Biopharma Inc. has a 1 year low of $0.38 and a 1 year high of $13.07. The company has a 50 day simple moving average of $4.32 and a two-hundred day simple moving average of $2.31.

Analysts Set New Price Targets

AMAM has been the subject of a number of analyst reports. Robert W. Baird raised their price objective on shares of Ambrx Biopharma from $4.00 to $11.00 in a research report on Friday, March 3rd. The Goldman Sachs Group lifted their target price on shares of Ambrx Biopharma from $2.00 to $6.00 and gave the company a “neutral” rating in a research report on Monday, February 27th.

Institutional Investors Weigh In On Ambrx Biopharma

Several hedge funds have recently bought and sold shares of the stock. FMR LLC lifted its holdings in shares of Ambrx Biopharma by 0.8% in the 2nd quarter. FMR LLC now owns 3,857,679 shares of the company’s stock worth $10,223,000 after acquiring an additional 32,320 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Ambrx Biopharma by 481.8% in the 3rd quarter. Renaissance Technologies LLC now owns 64,000 shares of the company’s stock worth $69,000 after acquiring an additional 53,000 shares during the last quarter. Alpine Global Management LLC bought a new stake in shares of Ambrx Biopharma in the 4th quarter worth approximately $106,000. Royal Bank of Canada bought a new stake in shares of Ambrx Biopharma in the 3rd quarter worth approximately $46,000. Finally, B. Riley Wealth Advisors Inc. bought a new stake in shares of Ambrx Biopharma in the 4th quarter worth approximately $45,000. 43.14% of the stock is currently owned by institutional investors.

Ambrx Biopharma Company Profile

(Get Rating)

Ambrx Biopharma Inc, a clinical-stage biologics company, discovers and develops engineered precision biologics using its proprietary expanded genetic code technology platform. Its 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.