Innovis Asset Management LLC grew its position in Ambrx Biopharma Inc. (NYSE:AMAM – Free Report) by 85.1% during the 3rd quarter, HoldingsChannel reports. The fund owned 31,137 shares of the company’s stock after purchasing an additional 14,311 shares during the period. Innovis Asset Management LLC’s holdings in Ambrx Biopharma were worth $358,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. TD Asset Management Inc increased its stake in Ambrx Biopharma by 73.3% in the 3rd quarter. TD Asset Management Inc now owns 110,456 shares of the company’s stock worth $1,270,000 after buying an additional 46,728 shares during the period. ExodusPoint Capital Management LP increased its stake in Ambrx Biopharma by 2,349.4% in the 2nd quarter. ExodusPoint Capital Management LP now owns 477,558 shares of the company’s stock worth $7,861,000 after buying an additional 458,061 shares during the period. HighVista Strategies LLC purchased a new position in Ambrx Biopharma in the 2nd quarter worth about $2,525,000. Cormorant Asset Management LP increased its stake in Ambrx Biopharma by 13.1% in the 2nd quarter. Cormorant Asset Management LP now owns 9,616,155 shares of the company’s stock worth $158,282,000 after buying an additional 1,116,155 shares during the period. Finally, Silverarc Capital Management LLC purchased a new position in Ambrx Biopharma in the 2nd quarter worth about $1,646,000. Hedge funds and other institutional investors own 77.28% of the company’s stock.
Analysts Set New Price Targets
Several brokerages have issued reports on AMAM. B. Riley cut shares of Ambrx Biopharma from a “buy” rating to a “neutral” rating and increased their target price for the stock from $26.00 to $28.00 in a report on Tuesday, January 9th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Ambrx Biopharma in a report on Friday, January 12th. Royal Bank of Canada dropped their target price on shares of Ambrx Biopharma from $33.00 to $32.00 and set an “outperform” rating on the stock in a report on Tuesday, November 14th. Robert W. Baird reiterated a “neutral” rating and set a $28.00 target price on shares of Ambrx Biopharma in a report on Tuesday, January 16th. Finally, The Goldman Sachs Group dropped their target price on shares of Ambrx Biopharma from $10.00 to $9.00 and set a “neutral” rating on the stock in a report on Wednesday, November 15th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $24.13.
Ambrx Biopharma Stock Down 0.1 %
AMAM stock traded down $0.03 during trading on Friday, reaching $27.76. The company had a trading volume of 739,529 shares, compared to its average volume of 2,374,567. The firm has a 50-day simple moving average of $20.40 and a 200-day simple moving average of $14.83. Ambrx Biopharma Inc. has a twelve month low of $1.28 and a twelve month high of $28.15.
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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