NewAmsterdam Pharma (NASDAQ:NAMS) Trading Up 4.1% – Time to Buy?

NewAmsterdam Pharma (NASDAQ:NAMS) traded up 4.1% during mid-day trading on Friday . The company traded as high as $23.24 and last traded at $22.67. 666,882 shares were traded during trading, an increase of 2% from the average session volume of 653,617 shares. The stock had previously closed at $21.77.

Analyst Ratings Changes

A number of brokerages have issued reports on NAMS. Scotiabank boosted their price target on NewAmsterdam Pharma from $35.00 to $47.00 and gave the company a “sector outperform” rating in a report on Wednesday, December 11th. Royal Bank of Canada reissued an “outperform” rating and issued a $40.00 target price on shares of NewAmsterdam Pharma in a research note on Friday, January 24th. HC Wainwright reaffirmed a “buy” rating and set a $48.00 target price on shares of NewAmsterdam Pharma in a research note on Tuesday, January 14th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $36.00 price target on shares of NewAmsterdam Pharma in a research note on Thursday, December 5th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, NewAmsterdam Pharma has an average rating of “Buy” and an average target price of $41.60.

NewAmsterdam Pharma Trading Up 2.4 %

The company has a 50 day moving average price of $23.52 and a 200 day moving average price of $19.97.

Insider Activity

In other NewAmsterdam Pharma news, major shareholder Nap B.V. Forgrowth sold 8,530 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $25.02, for a total value of $213,420.60. Following the sale, the insider now owns 11,812,033 shares in the company, valued at approximately $295,537,065.66. This trade represents a 0.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 446,730 shares of company stock valued at $11,438,695 in the last ninety days. Company insiders own 19.50% of the company’s stock.

Institutional Investors Weigh In On NewAmsterdam Pharma

Several large investors have recently made changes to their positions in NAMS. Geode Capital Management LLC grew its holdings in NewAmsterdam Pharma by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 86,322 shares of the company’s stock worth $1,433,000 after acquiring an additional 1,399 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of NewAmsterdam Pharma during the fourth quarter valued at $80,000. Quarry LP boosted 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 acquiring an additional 6,247 shares during the last quarter. Barclays PLC raised its holdings in NewAmsterdam Pharma by 1,813.4% during 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 last quarter. Finally, Bellevue Group AG acquired a new position in NewAmsterdam Pharma during the 3rd quarter valued at about $128,000. Institutional investors own 89.89% of the company’s stock.

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.