NewAmsterdam Pharma (NASDAQ:NAMS) Earns “Buy” Rating from HC Wainwright

NewAmsterdam Pharma (NASDAQ:NAMS)‘s stock had its “buy” rating reaffirmed by investment analysts at HC Wainwright in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $48.00 target price on the stock. HC Wainwright’s price target points to a potential upside of 95.28% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on the company. Scotiabank increased their target price on NewAmsterdam Pharma from $35.00 to $47.00 and gave the stock a “sector outperform” rating in a report on Wednesday, December 11th. Piper Sandler reiterated an “overweight” rating and set a $37.00 price objective on shares of NewAmsterdam Pharma in a research note on Monday, September 23rd. Finally, Needham & Company LLC reissued a “buy” rating and set a $36.00 price objective on shares of NewAmsterdam Pharma in a report on Thursday, December 5th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $38.17.

NewAmsterdam Pharma Price Performance

NASDAQ:NAMS opened at $24.58 on Tuesday. NewAmsterdam Pharma has a 12-month low of $15.19 and a 12-month high of $27.29. The firm has a 50-day moving average price of $23.54 and a 200 day moving average price of $19.71.

Insider Buying and Selling at NewAmsterdam Pharma

In other NewAmsterdam Pharma news, major shareholder Nap B.V. Forgrowth sold 100,728 shares of the stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $26.10, for a total value of $2,629,000.80. Following the transaction, the insider now owns 10,908,502 shares of the company’s stock, valued at approximately $284,711,902.20. This represents a 0.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last three months, insiders have sold 446,730 shares of company stock worth $11,438,695. Company insiders own 19.50% of the company’s stock.

Institutional Trading of NewAmsterdam Pharma

Several hedge funds have recently added to or reduced their stakes in the business. Frazier Life Sciences Management L.P. grew its position in shares of NewAmsterdam Pharma by 5.1% in the 3rd quarter. Frazier Life Sciences Management L.P. now owns 12,855,194 shares of the company’s stock valued at $213,396,000 after purchasing an additional 628,251 shares during the period. Janus Henderson Group PLC lifted its position in NewAmsterdam Pharma by 51.1% in the 3rd quarter. Janus Henderson Group PLC now owns 1,540,729 shares of the company’s stock valued at $25,607,000 after acquiring an additional 520,772 shares in the last quarter. Decheng Capital LLC acquired a new position in shares of NewAmsterdam Pharma during the second quarter worth about $7,684,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in NewAmsterdam Pharma by 1,231.0% during 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 purchasing an additional 221,305 shares during the last quarter. Finally, Millennium Management LLC lifted its position in NewAmsterdam Pharma by 23.0% during the 2nd quarter. Millennium Management LLC now owns 1,165,429 shares of the company’s stock worth $22,388,000 after buying an additional 217,902 shares in the last quarter. Institutional investors and hedge funds 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.