MONSEY, N.Y., Jan. 08, 2024 (GLOBE NEWSWIRE) -- The law firm of Wohl & Fruchter LLP is 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 at the following link to discuss your legal rights at no charge:
https://wohlfruchter.com/cases/ambrx-biopharma/
Alternatively, you may contact us by phone at 866-833-6245, or via email at alerts@wohlfruchter.com.
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).
About Wohl & Fruchter
Wohl & Fruchter LLP has for over a decade been representing investors in litigation arising from fraud and other corporate misconduct, and recovered hundreds of millions of dollars in damages for investors. Please visit our website, www.wohlfruchter.com, to learn more about our Firm, or contact one of our partners.
Contact:
Wohl & Fruchter LLP
Joshua E. Fruchter
Toll Free 866.833.6245
alerts@wohlfruchter.com
www.wohlfruchter.com
Source:
Wohl & Fruchter LLP2024 GlobeNewswire, Inc., source Press Releases
AMBRX BIOPHARMA INC. 
