On September 18, 2023, Boston-based firm Cormorant Asset Management, LP (Trades, Portfolio) significantly increased its holdings in Ambrx Biopharma Inc (AMAM, Financial), adding 59,849,668 shares at a price of $9.12 per share. This transaction has increased the firm's total shares in Ambrx Biopharma Inc to 69,465,823, making up 27.18% of its portfolio.
About Cormorant Asset Management, LP (Trades, Portfolio)
Cormorant Asset Management, LP (Trades, Portfolio), located at 200 Clarendon Street, Boston, MA, is a firm with a diverse portfolio of 64 stocks. The firm's top holdings include Apellis Pharmaceuticals Inc (APLS, Financial), BridgeBio Pharma Inc (BBIO, Financial), Biomea Fusion Inc (BMEA, Financial), Ambrx Biopharma Inc (AMAM, Financial), and MoonLake Immunotherapeutics (MLTX, Financial). The firm's equity stands at $1.79 billion. 
Ambrx Biopharma Inc: A Brief Overview
Ambrx Biopharma Inc (AMAM, Financial), a clinical-stage biologics company based in the USA, focuses on discovering and developing a novel class of engineered precision biologics using its proprietary expanded genetic code technology platform. The company's product pipeline includes ARX788, ARX517, ARX305 among others. The company's segments include license fees, milestones, reimbursements, and research and development (R&D) services. 
Financial Performance of Ambrx Biopharma Inc
As of September 20, 2023, Ambrx Biopharma Inc has a market capitalization of $702.573 million and a current stock price of $11.33. The company's Profitability Rank is 1/10, its Financial Strength is 7/10, and its Growth Rank is 0/10. The company's Piotroski F-Score is 3, and its Altman Z score is 8.01, indicating financial stability.
Stock Performance of Ambrx Biopharma Inc
Since the transaction, the stock has gained 24.23%. The year-to-date price change ratio stands at 447.34%. The stock's Momentum Rank is 0/10, with RSI 5 Day at 51.94, RSI 9 Day at 43.28, and RSI 14 Day at 40.90.
Impact of the Transaction on Cormorant Asset Management, LP (Trades, Portfolio)'s Portfolio
The addition of 59,849,668 shares of Ambrx Biopharma Inc has significantly impacted Cormorant Asset Management, LP (Trades, Portfolio)'s portfolio. The firm's current ratio of holdings in the traded stock stands at 112.02%. This transaction underscores the firm's confidence in Ambrx Biopharma Inc's potential and aligns with its investment philosophy.
Conclusion
In conclusion, Cormorant Asset Management, LP (Trades, Portfolio)'s recent acquisition of additional shares in Ambrx Biopharma Inc is a significant move that increases its stake in the biotech company. Despite the company's low profitability and growth ranks, its financial stability and the firm's increased investment suggest a positive outlook. As always, investors are advised to conduct their own comprehensive analysis before making investment decisions.
