Ambrx Biopharma Inc. [NASDAQ: AMAM] gained 0.83% on the last trading session, reaching $27.93 price per share at the time. The company report on January 8, 2024 at 7:35 AM that Ambrx Announces Sale to Johnson & Johnson.
“We are excited to reach this agreement with Johnson & Johnson for advancing scientific research to treat cancers with high unmet needs,” said Daniel J. O’Connor, Chief Executive Officer of Ambrx. “With our deep and unique knowledge of precision engineering of protein therapeutics enabled by our proprietary technology incorporating synthetic amino acids in living cells, Ambrx has developed next-generation novel drug candidates such as site-specifically conjugated highly stable antibody drug conjugates. Through this transaction, we will continue to advance our leading prostate cancer candidate and Ambrx’s promising pipeline, while delivering significant and certain cash value to our shareholders. This announcement is the culmination of two decades of scientific work, combined with the Ambrx team’s talent, hard work and innovation. I look forward to what Ambrx will achieve as part of Johnson & Johnson.”.
If compared to the average trading volume of 1.75M shares, AMAM reached a trading volume of 7745118 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Ambrx Biopharma Inc. [AMAM]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for AMAM shares is $27.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on AMAM stock is a recommendation set at 2.43. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
JMP Securities have made an estimate for Ambrx Biopharma Inc. shares, keeping their opinion on the stock as Mkt Outperform, with their previous recommendation back on September 25, 2023. While these analysts kept the previous recommendation, BTIG Research raised their target price to Buy. The new note on the price target was released on September 12, 2023, representing the official price target for Ambrx Biopharma Inc. stock. Previously, the target price had yet another raise to $29, while RBC Capital Mkts analysts kept a Outperform rating on AMAM stock.
The Average True Range (ATR) for Ambrx Biopharma Inc. is set at 0.32, with the Price to Sales ratio for AMAM stock in the period of the last 12 months amounting to 238.88. The Price to Book ratio for the last quarter was 6.89, with the Price to Cash per share for the same quarter was set at 3.72.
Trading performance analysis for AMAM stock
Ambrx Biopharma Inc. [AMAM] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.58. With this latest performance, AMAM shares gained by 0.68% in over the last four-week period, additionally plugging by 107.81% over the last 6 months – not to mention a rise of 513.85% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for AMAM stock in for the last two-week period is set at 82.78, with the RSI for the last a single of trading hit 81.26, and the three-weeks RSI is set at 81.19 for Ambrx Biopharma Inc. [AMAM]. The present Moving Average for the last 50 days of trading for this stock 22.78, while it was recorded at 27.78 for the last single week of trading, and 15.29 for the last 200 days.
Ambrx Biopharma Inc. [AMAM]: A deeper dive into fundamental analysis
Ambrx Biopharma Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 13.28 and a Current Ratio set at 13.28.
Ambrx Biopharma Inc. [AMAM]: An earnings per share (EPS) analysis
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for AMAM. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Ambrx Biopharma Inc. go to 21.70%.
An analysis of Institutional ownership at Ambrx Biopharma Inc. [AMAM]
The top three institutional holders of AMAM stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in AMAM stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in AMAM stock with ownership which is approximately 5.8325%.
