AMAM

Cantor Fitzgerald Reiterates Ambrx Biopharma (AMAM) Overweight Recommendation

Fintel reports that on October 23, 2023, Cantor Fitzgerald reiterated coverage of Ambrx Biopharma (NYSE:AMAM) with a Overweight recommendation.

Analyst Price Forecast Suggests 183.84% Upside

As of October 5, 2023, the average one-year price target for Ambrx Biopharma is 23.84. The forecasts range from a low of 10.10 to a high of $31.50. The average price target represents an increase of 183.84% from its latest reported closing price of 8.40.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Ambrx Biopharma is 6MM, an increase of 9.14%. The projected annual non-GAAP EPS is -0.31.

What is the Fund Sentiment?

There are 65 funds or institutions reporting positions in Ambrx Biopharma. This is an increase of 13 owner(s) or 25.00% in the last quarter. Average portfolio weight of all funds dedicated to AMAM is 1.05%, an increase of 26.73%. Total shares owned by institutions increased in the last three months by 29.51% to 48,285K shares. AMAM / Ambrx Biopharma Inc. Put/Call Ratios The put/call ratio of AMAM is 0.20, indicating a bullish outlook.

What are Other Shareholders Doing?

AMAM / Ambrx Biopharma Inc. Shares Held by Institutions

Darwin Global Management holds 16,689K shares representing 25.40% ownership of the company. In it's prior filing, the firm reported owning 11,305K shares, representing an increase of 32.26%. The firm increased its portfolio allocation in AMAM by 62.83% over the last quarter.

Cormorant Asset Management holds 9,616K shares representing 14.64% ownership of the company. In it's prior filing, the firm reported owning 8,500K shares, representing an increase of 11.61%. The firm increased its portfolio allocation in AMAM by 77.57% over the last quarter.

D. E. Shaw holds 4,016K shares representing 6.11% ownership of the company. In it's prior filing, the firm reported owning 3,934K shares, representing an increase of 2.05%. The firm increased its portfolio allocation in AMAM by 128.29% over the last quarter.

Commodore Capital holds 3,175K shares representing 4.83% ownership of the company. In it's prior filing, the firm reported owning 4,803K shares, representing a decrease of 51.29%. The firm decreased its portfolio allocation in AMAM by 9.97% over the last quarter.

VR Adviser holds 2,485K shares representing 3.78% ownership of the company. In it's prior filing, the firm reported owning 3,299K shares, representing a decrease of 32.74%. The firm increased its portfolio allocation in AMAM by 13.85% over the last quarter.

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.

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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.

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