NewAmsterdam Pharma (NASDAQ:NAMS) Trading 7.5% Higher – Time to Buy?

NewAmsterdam Pharma (NASDAQ:NAMS) shares rose 7.5% during mid-day trading on Thursday . The company traded as high as $21.63 and last traded at $21.51. Approximately 158,502 shares traded hands during trading, a decline of 45% from the average daily volume of 287,275 shares. The stock had previously closed at $20.01.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Needham & Company LLC reiterated a “buy” rating and set a $36.00 target price on shares of NewAmsterdam Pharma in a research note on Thursday. Piper Sandler reissued an “overweight” rating and set a $37.00 price objective on shares of NewAmsterdam Pharma in a report on Monday, September 23rd. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $31.00 target price on shares of NewAmsterdam Pharma in a research note on Thursday, September 5th. Seven analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $33.80.

NewAmsterdam Pharma Price Performance

The firm’s 50 day simple moving average is $18.90 and its 200-day simple moving average is $18.62.

Insider Buying and Selling

In other news, CAO Louise Frederika Kooij sold 45,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $15.72, for a total value of $707,400.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Nap B.V. Forgrowth sold 33,273 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $25.08, for a total transaction of $834,486.84. Following the completion of the transaction, the insider now directly owns 11,778,760 shares in the company, valued at $295,411,300.80. This trade represents a 0.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 86,803 shares of company stock worth $1,755,307. Company insiders own 19.50% of the company’s stock.

Institutional Trading of NewAmsterdam Pharma

Several large investors have recently added to or reduced their stakes in NAMS. Affinity Asset Advisors LLC boosted its holdings in shares of NewAmsterdam Pharma by 129.0% during the 1st quarter. Affinity Asset Advisors LLC now owns 286,200 shares of the company’s stock valued at $6,769,000 after acquiring an additional 161,200 shares during the last quarter. Baker BROS. Advisors LP bought a new position in shares of NewAmsterdam Pharma in the first quarter worth about $2,290,000. Janus Henderson Group PLC bought a new stake in NewAmsterdam Pharma during the 1st quarter valued at approximately $15,018,000. Artal Group S.A. purchased a new position in NewAmsterdam Pharma in the 1st quarter worth approximately $18,920,000. Finally, Opaleye Management Inc. boosted its stake in NewAmsterdam Pharma by 18.8% in the 1st quarter. Opaleye Management Inc. now owns 315,388 shares of the company’s stock worth $7,459,000 after purchasing an additional 50,000 shares during the period. Institutional investors own 89.89% of the company’s stock.

About NewAmsterdam Pharma

NewAmsterdam Pharma Company N.V., a late-stage biopharmaceutical company, develops therapies to enhance patient care in populations with metabolic disease. It is developing obicetrapib, an oral low-dose cholesteryl ester transfer protein (CETP) inhibitor, that is in various clinical trials as a monotherapy and a combination therapy with ezetimibe for lowering LDL-C for cardiovascular diseases.