NewAmsterdam Pharma (NASDAQ:NAMS) Shares Up 4.7% – Time to Buy?

NewAmsterdam Pharma (NASDAQ:NAMS)’s stock price was up 4.7% during mid-day trading on Tuesday . The stock traded as high as $26.13 and last traded at $25.87. Approximately 686,809 shares traded hands during mid-day 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

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

NewAmsterdam Pharma Stock Performance

The company’s 50-day moving average price is $20.67 and its two-hundred day moving average price is $18.75.

Insider Buying and Selling at NewAmsterdam Pharma

In other NewAmsterdam Pharma news, major shareholder Nap B.V. Forgrowth sold 166,011 shares of the company’s stock in a transaction dated 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 completion of 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Louise Frederika Kooij sold 45,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $15.72, for a total transaction of $707,400.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 252,814 shares of company stock valued at $5,970,327. Corporate insiders own 19.50% of the company’s stock.

Hedge Funds Weigh In On NewAmsterdam Pharma

A number of hedge funds have recently modified their holdings of NAMS. Frazier Life Sciences Management L.P. increased its position in 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 worth $213,396,000 after purchasing an additional 628,251 shares during the last quarter. Janus Henderson Group PLC increased its holdings 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 worth $25,607,000 after buying an additional 520,772 shares during the last quarter. Millennium Management LLC raised its position in NewAmsterdam Pharma by 23.0% during the second quarter. Millennium Management LLC now owns 1,165,429 shares of the company’s stock valued at $22,388,000 after acquiring an additional 217,902 shares in the last quarter. Jennison Associates LLC lifted its stake in NewAmsterdam Pharma by 8.9% in the third quarter. Jennison Associates LLC now owns 1,020,278 shares of the company’s stock valued at $16,937,000 after acquiring an additional 83,115 shares during the last quarter. Finally, Deerfield Management Company L.P. Series C grew its position in NewAmsterdam Pharma by 30.3% in the second quarter. Deerfield Management Company L.P. Series C now owns 869,250 shares of the company’s stock worth $16,698,000 after acquiring an additional 202,250 shares in the last quarter. 89.89% of the stock is owned by institutional investors and hedge funds.

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.