NewAmsterdam Pharma (NASDAQ:NAMS) Trading Up 2.6%

Shares of NewAmsterdam Pharma (NASDAQ:NAMS) rose 2.6% during mid-day trading on Tuesday . The company traded as high as $20.26 and last traded at $20.26. Approximately 16,167 shares were traded during mid-day trading, a decline of 93% from the average daily volume of 232,322 shares. The stock had previously closed at $19.74.

Analysts Set New Price Targets

NAMS has been the subject of a number of recent analyst reports. Guggenheim initiated coverage on NewAmsterdam Pharma in a report on Thursday, January 18th. They issued a “buy” rating and a $30.00 price objective for the company. Piper Sandler started coverage on NewAmsterdam Pharma in a report on Tuesday, January 16th. They issued an “overweight” rating and a $37.00 price objective for the company. Royal Bank of Canada upped their target price on NewAmsterdam Pharma from $25.00 to $31.00 and gave the stock an “outperform” rating in a research report on Thursday, February 29th. Finally, Scotiabank started coverage on NewAmsterdam Pharma in a research report on Thursday, March 14th. They issued a “sector outperform” rating and a $35.00 target price for the company. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $33.25.

NewAmsterdam Pharma Stock Performance

The business has a 50-day moving average price of $21.51 and a 200 day moving average price of $15.20.

Insider Activity

In other NewAmsterdam Pharma news, Director James N. Topper bought 8,429 shares of NewAmsterdam Pharma stock in a transaction dated Tuesday, March 26th. The stock was bought at an average price of $21.50 per share, for a total transaction of $181,223.50. Following the completion of the acquisition, the director now directly owns 3,008,429 shares of the company’s stock, valued at $64,681,223.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Louis G. Lange purchased 5,000 shares of the company’s stock in a transaction dated Tuesday, February 13th. The shares were acquired at an average cost of $19.00 per share, with a total value of $95,000.00. Following the completion of the purchase, the director now owns 24,878 shares of the company’s stock, valued at approximately $472,682. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James N. Topper purchased 8,429 shares of the company’s stock in a transaction dated Tuesday, March 26th. The stock was bought at an average cost of $21.50 per share, for a total transaction of $181,223.50. Following the completion of the purchase, the director now directly owns 3,008,429 shares of the company’s stock, valued at approximately $64,681,223.50. The disclosure for this purchase can be found here. Corporate insiders own 2.50% of the company’s stock.

Hedge Funds Weigh In On NewAmsterdam Pharma

A number of hedge funds have recently modified their holdings of the stock. Wolverine Asset Management LLC acquired a new position in NewAmsterdam Pharma during the third quarter worth $27,000. Royal Bank of Canada increased its position in NewAmsterdam Pharma by 987.5% during the fourth quarter. Royal Bank of Canada now owns 10,875 shares of the company’s stock worth $121,000 after buying an additional 9,875 shares during the last quarter. Geode Capital Management LLC acquired a new position in NewAmsterdam Pharma during the first quarter worth $249,000. JPMorgan Chase & Co. increased its position in NewAmsterdam Pharma by 1,929.7% during the first quarter. JPMorgan Chase & Co. now owns 22,367 shares of the company’s stock worth $301,000 after buying an additional 21,265 shares during the last quarter. Finally, Yarbrough Capital LLC acquired a new position in NewAmsterdam Pharma during the first quarter worth $567,000. 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.