NewAmsterdam Pharma (NASDAQ:NAMS) Sees Unusually-High Trading Volume – Still a Buy?

NewAmsterdam Pharma (NASDAQ:NAMS) saw unusually-high trading volume on Friday . Approximately 1,073,678 shares traded hands during trading, an increase of 196% from the previous session’s volume of 363,004 shares.The stock last traded at $24.53 and had previously closed at $25.09.

Analyst Ratings Changes

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

NewAmsterdam Pharma Stock Performance

The company’s 50 day moving average price is $20.53 and its 200 day moving average price is $18.71.

Insider Buying and Selling at NewAmsterdam Pharma

In related news, CAO Louise Frederika Kooij sold 45,000 shares of the business’s stock in a transaction that occurred on 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Nap B.V. Forgrowth sold 33,273 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $25.08, for a total value of $834,486.84. Following the transaction, the insider now owns 11,778,760 shares in the company, valued at approximately $295,411,300.80. This trade represents a 0.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 86,803 shares of company stock worth $1,755,307 over the last three months. Corporate insiders own 19.50% of the company’s stock.

Institutional Trading of NewAmsterdam Pharma

A number of institutional investors and hedge funds have recently modified their holdings of NAMS. Banque Cantonale Vaudoise acquired a new position in NewAmsterdam Pharma in the 2nd quarter valued at $38,000. Quarry LP grew its position in shares of NewAmsterdam Pharma by 2,469.2% in the third quarter. Quarry LP now owns 6,500 shares of the company’s stock valued at $108,000 after purchasing an additional 6,247 shares during the last quarter. Barclays PLC grew its position in shares of NewAmsterdam Pharma by 1,813.4% in the third 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 bought a new position in shares of NewAmsterdam Pharma in the third quarter worth about $128,000. Finally, XTX Topco Ltd acquired a new position in shares of NewAmsterdam Pharma during the 3rd quarter worth about $187,000. 89.89% of the stock is currently 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.