NewAmsterdam Pharma (NASDAQ:NAMS) Stock Price Down 4.9% – Should You Sell?

Shares of NewAmsterdam Pharma (NASDAQ:NAMS) fell 4.9% during mid-day trading on Thursday . The company traded as low as $22.53 and last traded at $22.82. 116,195 shares were traded during trading, a decline of 78% from the average session volume of 516,675 shares. The stock had previously closed at $24.00.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on NAMS shares. 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. HC Wainwright restated a “buy” rating and issued a $48.00 price target on shares of NewAmsterdam Pharma in a research report on Tuesday. Piper Sandler reaffirmed an “overweight” rating and issued a $37.00 price target on shares of NewAmsterdam Pharma in a report on Monday, September 23rd. Finally, Scotiabank raised their price objective on NewAmsterdam Pharma from $35.00 to $47.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, December 11th. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $38.17.

NewAmsterdam Pharma Stock Down 3.2 %

The stock has a fifty day moving average price of $23.67 and a 200-day moving average price of $19.77.

Insider Buying and Selling

In other NewAmsterdam Pharma news, major shareholder Nap B.V. Forgrowth sold 8,530 shares of the 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 completion of the sale, the insider now owns 11,812,033 shares in the company, valued at $295,537,065.66. This represents a 0.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders sold 446,730 shares of company stock valued at $11,438,695. Corporate insiders own 19.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Frazier Life Sciences Management L.P. grew its holdings in NewAmsterdam Pharma by 5.1% during the third 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 last quarter. Janus Henderson Group PLC raised its holdings 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 worth $25,607,000 after acquiring an additional 520,772 shares during the period. 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 acquiring an additional 217,902 shares during the period. Jennison Associates LLC lifted its position in NewAmsterdam Pharma by 8.9% during the 3rd quarter. Jennison Associates LLC now owns 1,020,278 shares of the company’s stock worth $16,937,000 after acquiring an additional 83,115 shares during the last quarter. Finally, Deerfield Management Company L.P. Series C boosted its holdings in NewAmsterdam Pharma by 30.3% during the second quarter. Deerfield Management Company L.P. Series C now owns 869,250 shares of the company’s stock valued at $16,698,000 after acquiring an additional 202,250 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.