Ambrx Biopharma (NYSE:AMAM) Trading Up 4.6%

Ambrx Biopharma Inc. (NYSE:AMAM) shares were up 4.6% during mid-day trading on Friday . The stock traded as high as $13.95 and last traded at $13.68. Approximately 74,018 shares changed hands during trading, a decline of 96% from the average daily volume of 2,020,325 shares. The stock had previously closed at $13.08.

Analysts Set New Price Targets

Several equities analysts recently issued reports on AMAM shares. Royal Bank of Canada started coverage on Ambrx Biopharma in a research report on Monday, July 31st. They set an “outperform” rating and a $29.00 price target on the stock. B. Riley initiated coverage on Ambrx Biopharma in a research note on Tuesday, June 13th. They issued a “buy” rating and a $26.00 target price for the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $25.00 price objective on shares of Ambrx Biopharma in a research note on Wednesday, August 16th. Finally, Oppenheimer assumed coverage on Ambrx Biopharma in a report on Thursday, June 1st. They issued an “outperform” rating and a $30.00 price objective for the company. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Ambrx Biopharma currently has an average rating of “Moderate Buy” and a consensus target price of $21.33.

Ambrx Biopharma Stock Performance

The company’s 50 day moving average is $14.89 and its two-hundred day moving average is $11.65.

Hedge Funds Weigh In On Ambrx Biopharma

Several institutional investors have recently bought and sold shares of AMAM. Exchange Traded Concepts LLC purchased a new stake in shares of Ambrx Biopharma during the 2nd quarter valued at about $162,000. Tocqueville Asset Management L.P. bought a new position in Ambrx Biopharma in the 1st quarter worth about $112,000. QP Wealth Management LLC bought a new position in Ambrx Biopharma in the 2nd quarter worth about $209,000. Innovis Asset Management LLC bought a new position in Ambrx Biopharma in the 2nd quarter worth about $277,000. Finally, Squarepoint Ops LLC bought a new position in Ambrx Biopharma in the 1st quarter worth about $156,000.

Ambrx Biopharma Company Profile

Ambrx Biopharma Inc, a clinical-stage biologics company, discovers and develops engineered precision biologics using its proprietary expanded genetic code technology platform. The company's lead product candidate is ARX788, an anti-HER2 antibody-drug conjugate (ADC), which is investigated in various clinical trials for the treatment of breast cancer, gastric/gastroesophageal junction cancer, and other solid tumors, including ongoing Phase 2/3 clinical trials for the treatment of HER2-positive metastatic breast cancer and gastric cancer.