We are investigating the fairness of the price of $28.00 per share in cash pursuant to which Ambrx Biopharma, Inc. (Nasdaq: AMAM) (“Ambrx”) has agreed to be sold to Johnson & Johnson (“JNJ”). The sales price is below the price target of Wall Street analysts at RBC Capital and Oppenheimer.
If you remain an Ambrx shareholder and question the fairness of the price, you may contact our firm to discuss your legal rights at no charge by completing and submitting the form below.
Why is there an investigation?
On January 8, 2024, Ambrx announced that it had agreed to be sold for $28.00 per share in cash to JNJ.
“We are investigating whether the Ambrx Board of Directors acted in the best interests of Ambrx shareholders in approving the sale,” explained Joshua Fruchter, a founding partner of Wohl & Fruchter. “This includes whether the price agreed upon is fair to Ambrx shareholders, as well as whether all material information regarding the transaction has been fully disclosed.”
Notably, according to TipRanks, the sales price of $28.00 per share is below the price target of Brian Abrahams of RBC Capital (with a price target of $32.00 per share), and Matthew Biegler at Oppenheimer (with a price target of $30.00 per share).