Looking Into Ambrx Biopharma's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Ambrx Biopharma (NYSE:AMAM) has seen a significant decrease in short interest, with a 67.62% drop since the last report. The current short interest is 1.74 million shares, or 2.93% of float, with a short-covering time of 1.0 days. This decline in short interest may indicate a more bullish sentiment among investors compared to the peer group average of 12.14% short interest as a percentage of float.
January 29, 2024 | 1:30 pm
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Ambrx Biopharma's significant drop in short interest could suggest a more bullish sentiment from investors, potentially leading to a short-term positive impact on the stock price.
A decrease in short interest typically indicates that investors are less bearish on a stock, which can lead to an increase in stock price as the market sentiment improves. Since Ambrx Biopharma's short interest is significantly lower than its peers, this could be taken as a positive sign by the market, potentially leading to a short-term rise in the stock price.
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