Cormorant Asset Management LP recently announced the acquisition of new stake in Ambrx Biopharma Inc. (NASDAQ:AMAM). The institutional investor has increased its shareholding in the Healthcare company by 13.17% to 11.23 million shares with purchase of 1.31 million shares. This fresh investment now brings its stake to 17.79% valued currently at $129.61 million. In addition, D. E. Shaw & Co. LP raised its holdings by 70961.0 to 4.0 million shares.
With over 30.59 million Ambrx Biopharma Inc. (AMAM) shares trading Monday and a closing price of $27.47 on the day, the dollar volume was approximately $840.25 million. The shares have shown a positive half year performance of 88.67% and its price on 01/08/24 gained nearly 101.54%. Currently, there are 270.46M common shares owned by the public and among those 46.44M shares have been available to trade.
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The top 3 mutual fund holders in Ambrx Biopharma Inc. are Federated Hermes Kaufmann Fund, Federated Hermes Kaufmann Small C, and HBM Healthcare Investments. Federated Hermes Kaufmann Fund owns 1.28 million shares of the company’s stock, all valued at over $14.8 million. The company bought an additional 1.28 million shares recently to bring their total holdings to about 2.03% of the shares outstanding. HBM Healthcare Investments bought 0.83 million shares to bring its total holdings to over 0.83 million shares at a value of $9.62 million. HBM Healthcare Investments now owns shares totaling to 1.32% of the shares outstanding.
Shares of Ambrx Biopharma Inc. (NASDAQ: AMAM) opened at $27.04, up $13.41 from a prior closing price of $13.63. However, the script later moved the day high at 27.60, up 101.54%. The company’s stock has a 5-day price change of 92.91% and 156.01% over the past three months. AMAM shares are trading 92.91% year to date (YTD), with the 12-month market performance up to 1287.37% higher. It has a 12-month low price of $1.28 and touched a high of $16.86 over the same period. AMAM has an average intraday trading volume of 1.24 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 98.59%, 134.77%, and 121.45% respectively.
Institutional ownership of Ambrx Biopharma Inc. (NASDAQ: AMAM) shares accounts for 84.37% of the company’s 270.46M shares outstanding. Mutual fund holders own 75.80%, while other institutional holders and individual stakeholders account for 8.60% and 225.44% respectively.
It has a market capitalization of $1.73B and a beta (3y monthly) value of -1.95. The earnings-per-share (ttm) stands at -$0.29. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.94% over the week and 8.18% over the month.
Analysts forecast that Ambrx Biopharma Inc. (AMAM) will achieve an EPS of -$0.39 for the current quarter, -$0.4 for the next quarter and -$1.64 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.45 while analysts give the company a high EPS estimate of -$0.34. Earnings per share for the fiscal year are expected to decrease by -375.86%, and -16.49% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 8 brokerage firm advisors rate Ambrx Biopharma Inc. (AMAM) as a “Strong Buy” at a consensus score of 1.88. Specifically, 4 Wall Street analysts polled rate the stock as a buy, while 3 of the 8 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the AMAM, a number of firms have released research notes about the stock. JMP Securities stated their Mkt Outperform rating for the stock in a research note on September 25, 2023, with the firm’s price target at $15.
