NewAmsterdam Pharma (NASDAQ:NAMS) Stock Price Up 4.7% – What’s Next?

NewAmsterdam Pharma (NASDAQ:NAMS) shares rose 4.7% on Tuesday . The stock traded as high as $26.13 and last traded at $25.87. Approximately 686,809 shares traded hands during trading, an increase of 87% from the average daily volume of 367,896 shares. The stock had previously closed at $24.71.

Analysts Set New Price Targets

A number of brokerages have commented on NAMS. Needham & Company LLC restated a “buy” rating and issued a $36.00 target price on shares of NewAmsterdam Pharma in a research note on Thursday, December 5th. Scotiabank boosted their target price on shares of NewAmsterdam Pharma from $35.00 to $47.00 and gave the company a “sector outperform” rating in a research note on Wednesday, December 11th. Royal Bank of Canada restated an “outperform” rating and issued a $31.00 price target on shares of NewAmsterdam Pharma in a research note on Thursday, September 5th. Finally, Piper Sandler reiterated an “overweight” rating and set a $37.00 price objective on shares of NewAmsterdam Pharma in a research report on Monday, September 23rd. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, NewAmsterdam Pharma currently has an average rating of “Buy” and an average target price of $36.20.

NewAmsterdam Pharma Stock Down 1.7 %

The business’s 50 day moving average price is $21.01 and its two-hundred day moving average price is $18.86.

Insider Buying and Selling at NewAmsterdam Pharma

In related news, CAO Louise Frederika Kooij sold 45,000 shares of NewAmsterdam Pharma stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $15.72, for a total value of $707,400.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Nap B.V. Forgrowth sold 166,011 shares of the company’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $25.39, for a total value of $4,215,019.29. Following the sale, the insider now directly owns 11,150,461 shares of the company’s stock, valued at approximately $283,110,204.79. This represents a 1.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 252,814 shares of company stock valued at $5,970,327. 19.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Banque Cantonale Vaudoise acquired a new position in NewAmsterdam Pharma in the 2nd quarter worth approximately $38,000. Quarry LP raised its holdings in shares of NewAmsterdam Pharma by 2,469.2% during the 3rd quarter. Quarry LP now owns 6,500 shares of the company’s stock valued at $108,000 after purchasing an additional 6,247 shares in the last quarter. Barclays PLC lifted its stake in shares of NewAmsterdam Pharma by 1,813.4% in the 3rd quarter. Barclays PLC now owns 7,596 shares of the company’s stock valued at $126,000 after purchasing an additional 7,199 shares during the last quarter. Bellevue Group AG bought a new stake in NewAmsterdam Pharma in the third quarter worth $128,000. Finally, XTX Topco Ltd acquired a new position in NewAmsterdam Pharma during the third quarter worth $187,000. 89.89% of the stock is owned by hedge funds and other institutional investors.

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.