NewAmsterdam Pharma (NASDAQ:NAMS) Shares Gap Up – Time to Buy?

NewAmsterdam Pharma (NASDAQ:NAMS)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $21.05, but opened at $21.80. NewAmsterdam Pharma shares last traded at $21.80, with a volume of 1,000 shares trading hands.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on NAMS shares. Needham & Company LLC reiterated a “buy” rating and set a $36.00 target price on shares of NewAmsterdam Pharma in a report on Thursday, November 21st. Piper Sandler reiterated an “overweight” rating and set a $37.00 target price on shares of NewAmsterdam Pharma in a report on Monday, September 23rd. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $31.00 target price on shares of NewAmsterdam Pharma in a report on Thursday, September 5th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $33.80.

NewAmsterdam Pharma Trading Down 0.2 %

The firm has a fifty day simple moving average of $19.37 and a 200-day simple moving average of $18.58.

Insiders Place Their Bets

In other news, CAO Louise Frederika Kooij sold 45,000 shares of NewAmsterdam Pharma stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $15.72, for a total value of $707,400.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Nap B.V. Forgrowth sold 8,530 shares of NewAmsterdam Pharma stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $25.02, for a total value of $213,420.60. Following the completion of the transaction, the insider now owns 11,812,033 shares of the company’s stock, valued at approximately $295,537,065.66. The trade was a 0.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 86,803 shares of company stock worth $1,755,307 in the last three months. 19.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Banque Cantonale Vaudoise acquired a new position in shares of NewAmsterdam Pharma in the 2nd quarter worth approximately $38,000. Quarry LP boosted its position in NewAmsterdam Pharma by 2,469.2% during the 3rd quarter. Quarry LP now owns 6,500 shares of the company’s stock valued at $108,000 after purchasing an additional 6,247 shares during the period. Barclays PLC boosted its position in NewAmsterdam Pharma by 1,813.4% during the 3rd quarter. Barclays PLC now owns 7,596 shares of the company’s stock valued at $126,000 after purchasing an additional 7,199 shares during the period. Bellevue Group AG acquired a new position in NewAmsterdam Pharma during the 3rd quarter valued at approximately $128,000. Finally, XTX Topco Ltd acquired a new position in NewAmsterdam Pharma during the 3rd quarter valued at approximately $187,000. Institutional investors and hedge funds 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.