NewAmsterdam Pharma (NASDAQ:NAMS) Shares Up 4.7% – What’s Next?

NewAmsterdam Pharma (NASDAQ:NAMS)’s share price rose 4.7% on Tuesday . The company traded as high as $26.13 and last traded at $25.87. Approximately 686,809 shares changed hands during trading, an increase of 87% from the average daily volume of 367,896 shares. The stock had previously closed at $24.71.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on NAMS shares. Scotiabank raised their price target on NewAmsterdam Pharma from $35.00 to $47.00 and gave the company a “sector outperform” rating in a research report on Wednesday, December 11th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $31.00 target price on shares of NewAmsterdam Pharma in a report on Thursday, September 5th. Piper Sandler reaffirmed an “overweight” rating and issued a $37.00 price target on shares of NewAmsterdam Pharma in a research report on Monday, September 23rd. Finally, Needham & Company LLC restated a “buy” rating and issued a $36.00 price objective on shares of NewAmsterdam Pharma in a research note on Thursday, December 5th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, NewAmsterdam Pharma has a consensus rating of “Buy” and an average target price of $36.20.

NewAmsterdam Pharma Stock Up 7.7 %

The stock has a 50-day simple moving average of $20.67 and a 200 day simple moving average of $18.75.

Insider Buying and Selling

In other NewAmsterdam Pharma news, CAO Louise Frederika Kooij sold 45,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $15.72, for a total transaction of $707,400.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Nap B.V. Forgrowth sold 8,530 shares of the company’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 completion of the sale, the insider now owns 11,812,033 shares in the company, valued at approximately $295,537,065.66. This represents a 0.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 252,814 shares of company stock valued at $5,970,327 over the last ninety days. 19.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Frazier Life Sciences Management L.P. boosted its stake 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 in the last quarter. Janus Henderson Group PLC boosted its position in NewAmsterdam Pharma by 51.1% in the third quarter. Janus Henderson Group PLC now owns 1,540,729 shares of the company’s stock valued at $25,607,000 after buying an additional 520,772 shares in the last quarter. Decheng Capital LLC acquired a new position in NewAmsterdam Pharma in the second quarter valued at about $7,684,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake 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 buying an additional 221,305 shares during the last quarter. Finally, Millennium Management LLC increased its holdings in shares of NewAmsterdam Pharma by 23.0% during the second 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. 89.89% of the stock is currently owned by institutional investors and hedge funds.

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.