NewAmsterdam Pharma (NASDAQ:NAMS) Trading 7.5% Higher – Still a Buy?

NewAmsterdam Pharma (NASDAQ:NAMS) shares traded up 7.5% during trading on Thursday . The company traded as high as $21.63 and last traded at $21.51. 158,502 shares changed hands during 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

A number of analysts recently commented on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $36.00 price objective on shares of NewAmsterdam Pharma in a research note on Thursday. 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. Finally, Piper Sandler reissued an “overweight” rating and issued a $37.00 price target on shares of NewAmsterdam Pharma in a research note on Monday, September 23rd. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $33.80.

NewAmsterdam Pharma Stock Up 0.4 %

The business has a 50 day simple moving average of $19.07 and a 200-day simple moving average of $18.62.

Insiders Place Their Bets

In other news, CAO Louise Frederika Kooij sold 45,000 shares of NewAmsterdam Pharma stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $15.72, for a total value of $707,400.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Nap B.V. Forgrowth sold 33,273 shares of NewAmsterdam Pharma stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $25.08, for a total value of $834,486.84. Following the completion of the transaction, the insider now directly owns 11,778,760 shares in the company, valued at $295,411,300.80. This represents a 0.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 86,803 shares of company stock valued at $1,755,307. Insiders own 19.50% of the company’s stock.

Hedge Funds Weigh In On NewAmsterdam Pharma

Several hedge funds and other institutional investors have recently modified their holdings of NAMS. Artal Group S.A. purchased a new stake in shares of NewAmsterdam Pharma during the 1st quarter valued at about $18,920,000. Janus Henderson Group PLC purchased a new stake in shares of NewAmsterdam Pharma during the 1st quarter valued at about $15,018,000. Frazier Life Sciences Management L.P. raised its holdings in shares of NewAmsterdam Pharma by 5.1% during the 3rd quarter. Frazier Life Sciences Management L.P. now owns 12,855,194 shares of the company’s stock valued at $213,396,000 after buying an additional 628,251 shares during the period. Decheng Capital LLC purchased a new stake in shares of NewAmsterdam Pharma during the 2nd quarter valued at about $7,684,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of NewAmsterdam Pharma by 1,231.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 239,283 shares of the company’s stock valued at $3,972,000 after buying an additional 221,305 shares during the period. 89.89% of the stock is owned by institutional investors and hedge funds.

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.