Ambrx Biopharma’s (AMAM) Overweight Rating Reaffirmed at Cantor Fitzgerald

Cantor Fitzgerald restated their overweight rating on shares of Ambrx Biopharma (NYSE:AMAM) in a research note published on Monday, Benzinga reports. Cantor Fitzgerald currently has a $25.00 price target on the stock.

A number of other research analysts have also weighed in on AMAM. The Goldman Sachs Group lifted their target price on Ambrx Biopharma from $6.00 to $10.00 and gave the company a neutral rating in a report on Wednesday, September 13th. Oppenheimer began coverage on Ambrx Biopharma in a report on Thursday, June 1st. They set an outperform rating and a $30.00 target price for the company. B. Riley began coverage on Ambrx Biopharma in a report on Tuesday, June 13th. They set a buy rating and a $26.00 target price for the company. Royal Bank of Canada initiated coverage on Ambrx Biopharma in a report on Monday, July 31st. They set an outperform rating and a $29.00 target price for the company. Finally, BTIG Research initiated coverage on Ambrx Biopharma in a research report on Tuesday, September 12th. They set a buy rating and a $26.00 price target for the company. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $22.57.

Ambrx Biopharma Price Performance

Shares of AMAM opened at $10.25 on Monday. The business has a 50-day moving average of $13.85 and a 200 day moving average of $12.70. Ambrx Biopharma has a fifty-two week low of $0.38 and a fifty-two week high of $16.86.

Ambrx Biopharma (NYSE:AMAM) last announced its quarterly earnings data on Wednesday, August 9th. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.28) by $0.23. The firm had revenue of $1.12 million during the quarter, compared to analysts’ expectations of $1.50 million. On average, research analysts expect that Ambrx Biopharma will post -1.24 earnings per share for the current year.

Institutional Trading of Ambrx Biopharma

A number of hedge funds have recently bought and sold shares of the company. Commodore Capital LP bought a new stake in Ambrx Biopharma in the first quarter valued at approximately $42,847,000. Darwin Global Management Ltd. increased its stake 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 period. Cormorant Asset Management LP increased its stake in shares of Ambrx Biopharma by 13.1% during the second quarter. Cormorant Asset Management LP now owns 9,616,155 shares of the company’s stock valued at $158,282,000 after buying an additional 1,116,155 shares during the period. Holocene Advisors LP purchased a new position in shares of Ambrx Biopharma during the second quarter valued at approximately $15,040,000. Finally, ExodusPoint Capital Management LP increased its stake in shares of Ambrx Biopharma by 2,349.4% during the second quarter. ExodusPoint Capital Management LP now owns 477,558 shares of the company’s stock valued at $7,861,000 after buying an additional 458,061 shares during the period. Institutional investors own 77.28% of the company’s stock.

About Ambrx Biopharma

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.