NewAmsterdam Pharma (NASDAQ:NAMS) Shares Gap Up – Time to Buy?

NewAmsterdam Pharma (NASDAQ:NAMS)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $21.05, but opened at $21.80. NewAmsterdam Pharma shares last traded at $21.80, with a volume of 1,000 shares changing hands.

Analyst Upgrades and Downgrades

NAMS has been the topic of a number of analyst reports. Piper Sandler reaffirmed an “overweight” rating and set a $37.00 price objective on shares of NewAmsterdam Pharma in a research note on Monday, September 23rd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $31.00 price objective on shares of NewAmsterdam Pharma in a research note on Thursday, September 5th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $36.00 price objective on shares of NewAmsterdam Pharma in a research note on Thursday, November 21st. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $33.80.

NewAmsterdam Pharma Stock Down 0.2 %

The business has a 50 day simple moving average of $19.37 and a 200-day simple moving average of $18.58.

Insiders Place Their Bets

In other NewAmsterdam Pharma news, CAO Louise Frederika Kooij sold 45,000 shares of the firm’s stock in a transaction dated 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 document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Nap B.V. Forgrowth sold 33,273 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $25.08, for a total value of $834,486.84. Following the completion of the sale, the insider now directly owns 11,778,760 shares in the company, valued at approximately $295,411,300.80. The trade was a 0.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 86,803 shares of company stock valued at $1,755,307. Insiders own 19.50% of the company’s stock.

Institutional Trading of NewAmsterdam Pharma

Hedge funds have recently added to or reduced their stakes in the business. Banque Cantonale Vaudoise purchased a new position in shares of NewAmsterdam Pharma in the 2nd quarter worth about $38,000. Quarry LP raised its holdings in shares of NewAmsterdam Pharma by 2,469.2% in the 3rd quarter. Quarry LP now owns 6,500 shares of the company’s stock worth $108,000 after purchasing an additional 6,247 shares during the period. Barclays PLC raised its holdings 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 worth $126,000 after purchasing an additional 7,199 shares during the period. Bellevue Group AG purchased a new position in shares of NewAmsterdam Pharma in the 3rd quarter worth about $128,000. Finally, Rosalind Advisors Inc. purchased a new position in shares of NewAmsterdam Pharma in the 2nd quarter worth about $194,000. 89.89% of the stock is owned by institutional investors and hedge funds.

NewAmsterdam Pharma Company Profile

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.