Ambrx Biopharma (NYSE:AMAM) Shares Up 0.1%

Ambrx Biopharma Inc. (NYSE:AMAM) rose 0.1% on Tuesday . The company traded as high as $28.00 and last traded at $28.00. Approximately 1,439,600 shares were traded during trading, a decline of 32% from the average daily volume of 2,123,967 shares. The stock had previously closed at $27.98.

Wall Street Analysts Forecast Growth

AMAM has been the topic of several recent analyst reports. JMP Securities reiterated a “market perform” rating on shares of Ambrx Biopharma in a report on Wednesday, January 10th. B. Riley lowered Ambrx Biopharma from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $26.00 to $28.00 in a research report on Tuesday, January 9th. Cantor Fitzgerald restated an “overweight” rating on shares of Ambrx Biopharma in a research report on Friday, January 12th. Finally, 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. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $24.13.

Ambrx Biopharma Stock Performance

The stock has a 50-day moving average price of $27.89 and a 200 day moving average price of $18.64.

Institutional Investors Weigh In On Ambrx Biopharma

Several institutional investors have recently added to or reduced their stakes in AMAM. Vanguard Group Inc. acquired a new stake in Ambrx Biopharma during the 4th quarter worth $19,931,000. Virtu Financial LLC acquired a new stake in shares of Ambrx Biopharma during the fourth quarter worth about $290,000. Perceptive Advisors LLC acquired a new stake in shares of Ambrx Biopharma during the fourth quarter worth about $1,122,000. Sierra Summit Advisors LLC purchased a new stake in shares of Ambrx Biopharma in the 4th quarter valued at about $530,000. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Ambrx Biopharma by 32.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,084,247 shares of the company’s stock valued at $15,440,000 after purchasing an additional 262,683 shares during the period. Hedge funds and other institutional investors own 77.28% of the company’s stock.

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.