NewAmsterdam Pharma (NASDAQ:NAMS) Shares Up 7.5% – Here’s What Happened

NewAmsterdam Pharma (NASDAQ:NAMS)’s stock price shot up 7.5% during trading on Thursday . The company traded as high as $21.63 and last traded at $21.51. 158,502 shares were traded during mid-day trading, a decline of 45% from the average session volume of 287,275 shares. The stock had previously closed at $20.01.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on NAMS shares. Royal Bank of Canada restated an “outperform” rating and issued a $31.00 target price on shares of NewAmsterdam Pharma in a report on Thursday, September 5th. Needham & Company LLC restated a “buy” rating and issued a $36.00 price objective on shares of NewAmsterdam Pharma in a report on Thursday. Finally, Piper Sandler reissued an “overweight” rating and issued a $37.00 price target on shares of NewAmsterdam Pharma in a research report on Monday, September 23rd. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $33.80.

NewAmsterdam Pharma Stock Performance

The business has a 50-day moving average price of $18.90 and a two-hundred day moving average price of $18.62.

Insider Activity

In other news, CAO Louise Frederika Kooij sold 45,000 shares of the 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 document filed with the SEC, which is available through this hyperlink. Also, major shareholder Nap B.V. Forgrowth sold 8,530 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $295,537,065.66. This trade represents a 0.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 86,803 shares of company stock valued at $1,755,307. 19.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On NewAmsterdam Pharma

Hedge funds have recently added to or reduced their stakes in the stock. Affinity Asset Advisors LLC lifted its holdings in NewAmsterdam Pharma by 129.0% in the first quarter. Affinity Asset Advisors LLC now owns 286,200 shares of the company’s stock worth $6,769,000 after purchasing an additional 161,200 shares during the period. Baker BROS. Advisors LP purchased a new stake in shares of NewAmsterdam Pharma during the first quarter valued at $2,290,000. Janus Henderson Group PLC purchased a new position in shares of NewAmsterdam Pharma in the first quarter worth approximately $15,018,000. Artal Group S.A. acquired a new stake in shares of NewAmsterdam Pharma in the first quarter worth $18,920,000. Finally, Opaleye Management Inc. grew its stake in NewAmsterdam Pharma by 18.8% during the 1st quarter. Opaleye Management Inc. now owns 315,388 shares of the company’s stock valued at $7,459,000 after acquiring an additional 50,000 shares in the last quarter. 89.89% of the stock is currently 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.