Streetbeat News

AMAM

Ambrx Biopharma Inc.

Open

27.99

Mkt cap

1.8B

Volume

1.4M

High

28.00

P/E Ratio

66.67

52-wk high

28.15

Low

27.98

Div yield

N/A

52-wk low

6.55

Health care stocks experienced significant movement in Monday's intraday session. Harpoon Therapeutics (HARP) saw a 112.4% increase, while LumiraDx (LMDX) dropped by 45.6%. Other notable gainers include Ambrx Biopharma (AMAM), Nkarta (NKTX), Universe Pharmaceuticals (UPC), Elevation Oncology (ELEV), and Venus Concept (VERO). On the losing side, Revance Therapeutics (RVNC), Prothena Corp (PRTA), Inspire Veterinary (IVP), Pacific Biosciences (PACB), and Jin Medical International (ZJYL) saw declines.

Portfolio Pulse from Benzinga Insights

January 08, 2024 | 5:31 pm

U.S. stocks traded mixed with the Nasdaq Composite up by 1.20%. Crude oil prices fell by 4.9%, while Ambrx Biopharma's shares surged 100% after an acquisition announcement by Johnson & Johnson. Commercial Metals Company reported strong Q1 earnings, beating estimates. Harpoon Therapeutics shares increased by 112% due to an acquisition by Merck. LumiraDx, Dada Nexus, and Solo Brands saw significant share price drops due to various negative developments.

Portfolio Pulse from Avi Kapoor

January 08, 2024 | 5:22 pm

Johnson & Johnson (NYSE:JNJ) is set to acquire Ambrx Biopharma Inc (NASDAQ:AMAM) for approximately $2.0 billion, or $1.9 billion net of estimated cash acquired, at $28.00/share. Ambrx, known for its cancer treatment candidates and proprietary ADC technology, will enhance JNJ's oncology portfolio. The deal is expected to close in the first half of 2024. Separately, Merck & Co Inc (NYSE:MRK) plans to acquire Harpoon Therapeutics Inc (NASDAQ:HARP) for around $680 million at $23.00 per share in cash. AMAM shares surged 98.30% to $27.04 following the news.

Portfolio Pulse from Vandana Singh

January 08, 2024 | 3:18 pm

Johnson & Johnson (JNJ) has announced a merger with Ambrx Biopharma (AMAM), with the deal expected to close in the first half of 2024. JNJ will acquire AMAM for $2.00 billion in cash. JNJ is a leading healthcare firm with pharmaceutical, medical devices, and consumer divisions. Ambrx Biopharma is a clinical-stage biologics company with a focus on engineered precision biologics and a proprietary technology platform.

Portfolio Pulse from Benzinga Insights

January 08, 2024 | 3:10 pm

U.S. stocks were mixed with the Nasdaq Composite up by around 100 points. The Dow and S&P 500 showed mixed performance. Information technology shares led gains, while energy shares lagged. Commercial Metals Company (CMC) reported better-than-expected Q1 earnings. Harpoon Therapeutics (HARP) surged after a buyout announcement by Merck, and Ambrx Biopharma (AMAM) also jumped on acquisition news by Johnson & Johnson. LumiraDx (LMDX) announced a trading suspension on Nasdaq, Dada Nexus (DADA) reported suspicious practices casting doubt on certain revenues, and Solo Brands (DTC) lowered its full-year 2023 revenue guidance. Commodities saw oil and gold prices fall, and European and Asian markets closed mostly lower.

Portfolio Pulse from Avi Kapoor

January 08, 2024 | 3:00 pm

Ambrx Biopharma's stock price has risen following the announcement that Johnson & Johnson will acquire the company in an all-cash merger valued at around $2 billion.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 2:23 pm

In Monday's pre-market session, several healthcare stocks experienced significant movements. Harpoon Therapeutics (HARP) saw a 110.9% increase, while Ambrx Biopharma (AMAM) rose by 101.76%. Vincerx Pharma (VINC) and Ampio Pharmaceuticals (AMPE) also gained, with increases of 52.54% and 27.52%, respectively. Cyclacel Pharmaceuticals (CYCC) and Axonics (AXNX) both saw their stocks rise by over 20%. Conversely, LumiraDx (LMDX) dropped by 32.6%, and other stocks such as Sharps Technology (STSS), Ainos (AIMD), Biofrontera (BFRI), Elevation Oncology (ELEV), and Cytokinetics (CYTK) also experienced declines.

Portfolio Pulse from Benzinga Insights

January 08, 2024 | 1:06 pm

Ambrx Biopharma's shares (AMAM) are set to resume trading at 8:00 a.m. after a halt. This could indicate significant news pending or recently released that could impact the stock's performance.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 12:58 pm

Trading for AMAM has resumed after a halt status update at 7:55:00 AM ET. The halt was related to news dissemination, and the stock has now begun trading again with updated quotations.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 12:55 pm

Johnson & Johnson has announced an all-cash merger to acquire Ambrx for an approximate total equity value of $2 billion. This acquisition is expected to enhance J&J's pharmaceutical portfolio.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 12:33 pm

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