HC Wainwright Reaffirms “Buy” Rating for NewAmsterdam Pharma (NASDAQ:NAMS)

NewAmsterdam Pharma (NASDAQ:NAMS)‘s stock had its “buy” rating reaffirmed by HC Wainwright in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $48.00 target price on the stock. HC Wainwright’s price target would indicate a potential upside of 100.00% from the stock’s current price.

Several other research firms have also recently weighed in on NAMS. Scotiabank boosted their price target on NewAmsterdam Pharma from $35.00 to $47.00 and gave the stock a “sector outperform” rating in a report on Wednesday, December 11th. Piper Sandler reissued an “overweight” rating and set a $37.00 target price on shares of NewAmsterdam Pharma in a report on Monday, September 23rd. Finally, Needham & Company LLC restated a “buy” rating and issued a $36.00 price target on shares of NewAmsterdam Pharma in a research report on Thursday, December 5th. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $38.17.

NewAmsterdam Pharma Price Performance

NASDAQ NAMS opened at $24.00 on Tuesday. NewAmsterdam Pharma has a twelve month low of $15.19 and a twelve month high of $27.29. The business’s fifty day moving average is $23.63 and its 200 day moving average is $19.74.

Insider Transactions at NewAmsterdam Pharma

In other news, major shareholder Nap B.V. Forgrowth sold 8,530 shares of NewAmsterdam Pharma stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $25.02, for a total value of $213,420.60. Following the completion of the transaction, the insider now directly owns 11,812,033 shares of the company’s stock, valued at approximately $295,537,065.66. This trade represents a 0.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In the last 90 days, insiders have sold 446,730 shares of company stock worth $11,438,695. Company insiders own 19.50% of the company’s stock.

Institutional Investors Weigh In On NewAmsterdam Pharma

Institutional investors and hedge funds have recently made changes to their positions in the business. Sei Investments Co. lifted its stake in NewAmsterdam Pharma by 49.1% in the second quarter. Sei Investments Co. now owns 24,561 shares of the company’s stock valued at $472,000 after buying an additional 8,087 shares during the period. Affinity Asset Advisors LLC increased its stake in shares of NewAmsterdam Pharma by 47.9% in the 2nd quarter. Affinity Asset Advisors LLC now owns 423,155 shares of the company’s stock valued at $8,129,000 after acquiring an additional 136,955 shares in the last quarter. Decheng Capital LLC bought a new stake in shares of NewAmsterdam Pharma in the 2nd quarter valued at $7,684,000. Deerfield Management Company L.P. Series C lifted its position in shares of NewAmsterdam Pharma by 30.3% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 869,250 shares of the company’s stock valued at $16,698,000 after acquiring an additional 202,250 shares during the period. Finally, Millennium Management LLC grew its holdings in NewAmsterdam Pharma by 23.0% in the second quarter. Millennium Management LLC now owns 1,165,429 shares of the company’s stock worth $22,388,000 after purchasing an additional 217,902 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.