NewAmsterdam Pharma (NASDAQ:NAMS) Trading 4.7% Higher – Time to Buy?

NewAmsterdam Pharma (NASDAQ:NAMS)’s share price was up 4.7% during mid-day trading on Tuesday . The stock traded as high as $26.13 and last traded at $25.87. Approximately 686,809 shares were traded during trading, an increase of 87% from the average daily volume of 367,896 shares. The stock had previously closed at $24.71.

Wall Street Analyst Weigh In

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

NewAmsterdam Pharma Stock Down 1.7 %

The stock’s 50 day moving average price is $21.01 and its 200 day moving average price is $18.86.

Insiders Place Their Bets

In other 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 transaction of $707,400.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Nap B.V. Forgrowth sold 166,011 shares of NewAmsterdam Pharma stock in a transaction dated Thursday, December 12th. The stock was 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 in the company, valued at approximately $283,110,204.79. The trade was a 1.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 252,814 shares of company stock worth $5,970,327 over the last quarter. 19.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On NewAmsterdam Pharma

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

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.