NewAmsterdam Pharma (NASDAQ:NAMS) Position Increased by M&T Bank Corp

M&T Bank Corp boosted its stake in shares of NewAmsterdam Pharma (NASDAQ:NAMS) by 54.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,328 shares of the company’s stock after purchasing an additional 9,593 shares during the quarter. M&T Bank Corp’s holdings in NewAmsterdam Pharma were worth $454,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Banque Cantonale Vaudoise bought a new stake in NewAmsterdam Pharma in the second quarter valued at $38,000. Quarry LP increased its holdings in shares of NewAmsterdam Pharma by 2,469.2% in the 3rd quarter. Quarry LP now owns 6,500 shares of the company’s stock worth $108,000 after acquiring an additional 6,247 shares during the period. Barclays PLC lifted its position in NewAmsterdam Pharma by 1,813.4% in 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 last quarter. Bellevue Group AG acquired a new position in NewAmsterdam Pharma during the 3rd quarter valued at about $128,000. Finally, XTX Topco Ltd acquired a new position in NewAmsterdam Pharma during the 3rd quarter valued at about $187,000. 89.89% of the stock is currently owned by institutional investors.

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 shares were sold at an average price of $15.72, for a total value of $707,400.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Nap B.V. Forgrowth sold 166,011 shares of the stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $25.39, for a total transaction of $4,215,019.29. Following the sale, the insider now directly owns 11,150,461 shares of the company’s stock, valued at approximately $283,110,204.79. This represents a 1.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 252,814 shares of company stock worth $5,970,327 over the last ninety days. Company insiders own 19.50% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Piper Sandler restated an “overweight” rating and issued a $37.00 price target on shares of NewAmsterdam Pharma in a research note on Monday, September 23rd. Scotiabank raised their target price 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. Needham & Company LLC reaffirmed a “buy” rating and set a $36.00 target price on shares of NewAmsterdam Pharma in a research note on Thursday, December 5th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $31.00 price target on shares of NewAmsterdam Pharma in a research note on Thursday, September 5th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $36.20.

NewAmsterdam Pharma Trading Up 7.7 %

NewAmsterdam Pharma stock opened at $26.61 on Wednesday. NewAmsterdam Pharma has a 12-month low of $10.12 and a 12-month high of $27.29. The firm has a 50 day simple moving average of $20.84 and a 200-day simple moving average of $18.81.

NewAmsterdam Pharma 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.