Fintel reports that Darwin Global Management has filed a 13D form with the SEC disclosing ownership of 79.13MM shares of Ambrx Biopharma Inc. (each representing seven ) (AMAM). This represents 26.4% of the company.

In their previous filing dated February 14, 2023 they reported 53.09MM shares and 19.60% of the company, an increase in shares of 49.05% and an increase in total ownership of 6.80% (calculated as current – previous percent ownership).

Analyst Price Forecast Suggests 6.57% Downside

As of March 7, 2023, the average one-year price target for Ambrx Biopharma Inc. is $8.67. The forecasts range from a low of $6.06 to a high of $11.55. The average price target represents a decrease of 6.57% from its latest reported closing price of $9.28.

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

The projected annual revenue for Ambrx Biopharma Inc. is $6MM, an increase of 17.52%. The projected annual non-GAAP EPS is -$0.31.

What is the Fund Sentiment?

There are 39 funds or institutions reporting positions in Ambrx Biopharma Inc.. This is an increase of 4 owner(s) or 11.43% in the last quarter. Average portfolio weight of all funds dedicated to AMAM is 0.29%, an increase of 1,001.34%. Total shares owned by institutions increased in the last three months by 7.50% to 18,137K shares. The put/call ratio of AMAM is 0.94, indicating a bullish outlook.

What are Large Shareholders Doing?

Cormorant Asset Management holds 2,336K shares representing 6.05% ownership of the company. No change in the last quarter.

Artal Group holds 2,152K shares representing 5.57% ownership of the company. No change in the last quarter.

Fosun International holds 1,933K shares representing 5.00% ownership of the company. No change in the last quarter.

FBIOX – Biotechnology Portfolio holds 1,362K shares representing 3.52% ownership of the company. No change in the last quarter.

BlackRock Health Sciences Trust II holds 1,266K shares representing 3.28% ownership of the company. No change in 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.

This article originally appeared on Fintel