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

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

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on NAMS. Needham & Company LLC reaffirmed a “buy” rating and set a $36.00 price target on shares of NewAmsterdam Pharma in a report on Thursday, December 5th. Piper Sandler reiterated an “overweight” rating and issued a $37.00 price target on shares of NewAmsterdam Pharma in a research note on Monday, September 23rd. HC Wainwright restated a “buy” rating and issued a $48.00 price objective on shares of NewAmsterdam Pharma in a research report on Tuesday. Finally, Scotiabank increased their target price on NewAmsterdam Pharma from $35.00 to $47.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, December 11th. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $38.17.

NewAmsterdam Pharma Stock Up 0.6 %

The stock has a 50 day simple moving average of $23.68 and a 200-day simple moving average of $19.82.

Insider Buying and Selling

In other news, major shareholder Nap B.V. Forgrowth sold 33,273 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $25.08, for a total value of $834,486.84. Following the sale, the insider now directly owns 11,778,760 shares in the company, valued at $295,411,300.80. The trade was a 0.28 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Over the last 90 days, insiders have sold 446,730 shares of company stock worth $11,438,695. 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 NAMS. FMR LLC raised its position in NewAmsterdam Pharma by 35.6% during the third 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 period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position 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 buying an additional 221,305 shares during the last quarter. State Street Corp boosted its stake in NewAmsterdam Pharma by 168.7% during the third quarter. State Street Corp now owns 37,915 shares of the company’s stock worth $629,000 after buying an additional 23,805 shares during the period. abrdn plc increased its position in NewAmsterdam Pharma by 69.8% during 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 during the last quarter. Finally, Millennium Management LLC lifted its holdings in shares of 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 last quarter. Institutional investors own 89.89% of the company’s stock.

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.