NewAmsterdam Pharma (NASDAQ:NAMS) Coverage Initiated at HC Wainwright

Research analysts at HC Wainwright initiated coverage on shares of NewAmsterdam Pharma (NASDAQ:NAMS) in a research note issued on Monday, MarketBeat reports. The brokerage set a “buy” rating and a $48.00 price target on the stock. HC Wainwright’s price objective would indicate a potential upside of 86.77% from the stock’s current price.

NAMS has been the topic of a number of other reports. Scotiabank raised their target price on shares of NewAmsterdam Pharma from $35.00 to $47.00 and gave the company a “sector outperform” rating in a research note on Wednesday, December 11th. Needham & Company LLC reiterated a “buy” rating and issued a $36.00 target price on shares of NewAmsterdam Pharma in a research report on Thursday, December 5th. Piper Sandler reiterated an “overweight” rating and issued a $37.00 price objective on shares of NewAmsterdam Pharma in a report on Monday, September 23rd. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $31.00 price objective on shares of NewAmsterdam Pharma in a report on Thursday, September 5th. Seven analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $38.17.

NewAmsterdam Pharma Stock Performance

NewAmsterdam Pharma stock opened at $25.70 on Monday. The business has a 50-day simple moving average of $22.26 and a 200 day simple moving average of $19.26. NewAmsterdam Pharma has a 52 week low of $11.18 and a 52 week high of $27.29.

Insider Activity at NewAmsterdam Pharma

In other NewAmsterdam Pharma news, major shareholder Nap B.V. Forgrowth sold 8,530 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at $295,537,065.66. This trade represents a 0.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 416,884 shares of company stock worth $10,676,428 in the last ninety days. 19.50% of the stock is owned by company insiders.

Institutional Trading of NewAmsterdam Pharma

Several large investors have recently modified their holdings of NAMS. FMR LLC raised its position in NewAmsterdam Pharma by 35.6% during the 3rd quarter. FMR LLC now owns 330,412 shares of the company’s stock valued at $5,485,000 after purchasing an additional 86,712 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in NewAmsterdam Pharma by 1,231.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 239,283 shares of the company’s stock worth $3,972,000 after acquiring an additional 221,305 shares during the period. abrdn plc boosted its holdings in NewAmsterdam Pharma by 69.8% in the third quarter. abrdn plc now owns 129,060 shares of the company’s stock valued at $2,142,000 after acquiring an additional 53,060 shares in the last quarter. Millennium Management LLC raised its holdings in NewAmsterdam Pharma by 23.0% in the 2nd 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 in the last quarter. Finally, Jennison Associates LLC lifted its position in shares of NewAmsterdam Pharma by 8.9% in the 3rd quarter. Jennison Associates LLC now owns 1,020,278 shares of the company’s stock worth $16,937,000 after purchasing an additional 83,115 shares during the period. 89.89% of the stock is owned by institutional investors.

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.