Fintel reports that on July 31, 2023, RBC Capital initiated coverage of Ambrx Biopharma Inc - ADR (NYSE:AMAM) with a Outperform recommendation.
Analyst Price Forecast Suggests 51.16% Upside
As of July 6, 2023, the average one-year price target for Ambrx Biopharma Inc - ADR is 23.05. The forecasts range from a low of 6.06 to a high of $31.50. The average price target represents an increase of 51.16% from its latest reported closing price of 15.25.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Ambrx Biopharma Inc - ADR is 6MM, an increase of 5.83%. The projected annual non-GAAP EPS is -0.31.
What is the Fund Sentiment?
There are 52 funds or institutions reporting positions in Ambrx Biopharma Inc - ADR. This is an increase of 14 owner(s) or 36.84% in the last quarter. Average portfolio weight of all funds dedicated to AMAM is 0.82%, an increase of 168.68%. Total shares owned by institutions increased in the last three months by 125.18% to 37,296K shares. 
The put/call ratio of AMAM is 2.13, indicating a bearish outlook.
What are Other Shareholders Doing?
Darwin Global Management holds 11,305K shares representing 18.64% ownership of the company. In it's prior filing, the firm reported owning 7,584K shares, representing an increase of 32.91%. The firm increased its portfolio allocation in AMAM by 157.30% over the last quarter.
Cormorant Asset Management holds 8,500K shares representing 14.02% ownership of the company. In it's prior filing, the firm reported owning 2,336K shares, representing an increase of 72.51%. The firm increased its portfolio allocation in AMAM by 1,306.90% over the last quarter.
Commodore Capital holds 4,803K shares representing 7.92% ownership of the company.
D. E. Shaw holds 3,934K shares representing 6.49% ownership of the company.
VR Adviser holds 3,299K shares representing 5.44% ownership of the company.
Ambrx Biopharma Background Information
(This description is provided by the company.)
Ambrx is a clinical stage biopharmaceutical company using an expanded genetic code technology platform to discover and develop Engineered Precision Biologics. These include next generation antibody drug conjugates (ADCs), bispecifics, targeted immuno-oncology therapies, novel cytokines to modulate the immune system, and long-acting therapeutic peptides for metabolic and cardiovascular disease. Ambrx is advancing a robust portfolio of clinical and preclinical programs designed to optimize efficacy, safety and ease of use, in multiple therapeutic areas, including its lead product candidate ARX788. In addition, the company has clinical collaborations with Bristol Myers Squibb, Astellas, BeiGene, Sino Biopharma, Elanco and NovoCodex, for drug candidates generated using Ambrx technology.
Additional reading:
- Ambrx Announces Closing of $75 Million Market Priced Registered
- Securities Purchase Agreement, dated as of May 23, 2023, by and between Ambrx Biopharma Inc. and the Purchasers
- Ambrx Announces $75 Million Market Priced Registered Offering
- Ambrx Appoints Stephen Glover as Chairman of its Board of Directors
- Amendment to Executive Employment Agreement by and between the Company and Daniel J. O’Connor, dated May 15, 2023
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
