NewAmsterdam Pharma (NASDAQ:NAMS) Trading Down 2.7%

NewAmsterdam Pharma (NASDAQ:NAMS)’s share price was down 2.7% during mid-day trading on Thursday . The company traded as low as $16.54 and last traded at $16.54. Approximately 128,965 shares were traded during trading, a decline of 45% from the average daily volume of 233,225 shares. The stock had previously closed at $17.00.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. TD Cowen assumed coverage on shares of NewAmsterdam Pharma in a research note on Wednesday, May 15th. They issued a “buy” rating on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $31.00 target price on shares of NewAmsterdam Pharma in a research note on Tuesday, July 30th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $33.25.

NewAmsterdam Pharma Price Performance

The stock’s fifty day moving average is $18.65 and its 200-day moving average is $20.17.

Insider Buying and Selling at NewAmsterdam Pharma

In other NewAmsterdam Pharma news, CEO Michael H. Davidson acquired 5,000 shares of the stock in a transaction that occurred on Thursday, June 20th. The stock was bought at an average cost of $17.26 per share, for a total transaction of $86,300.00. Following the completion of the transaction, the chief executive officer now owns 204,784 shares of the company’s stock, valued at approximately $3,534,571.84. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 19.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of NAMS. Banque Cantonale Vaudoise purchased a new stake in shares of NewAmsterdam Pharma in the 2nd quarter valued at approximately $38,000. Wolverine Asset Management LLC raised its position in NewAmsterdam Pharma by 197.2% in the fourth quarter. Wolverine Asset Management LLC now owns 8,694 shares of the company’s stock valued at $97,000 after purchasing an additional 5,769 shares during the period. Sei Investments Co. lifted its stake in NewAmsterdam Pharma by 49.1% during the second quarter. Sei Investments Co. now owns 24,561 shares of the company’s stock worth $472,000 after purchasing an additional 8,087 shares in the last quarter. Rosalind Advisors Inc. purchased a new position in shares of NewAmsterdam Pharma during the second quarter worth $194,000. Finally, Yarbrough Capital LLC acquired a new stake in shares of NewAmsterdam Pharma in the first quarter valued at $567,000. Institutional investors and hedge funds own 89.89% of the company’s stock.

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.