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

NewAmsterdam Pharma (NASDAQ:NAMS) gapped up before the market opened on Tuesday . The stock had previously closed at $17.53, but opened at $18.25. NewAmsterdam Pharma shares last traded at $17.36, with a volume of 41,066 shares traded.

Analyst Ratings Changes

Several research firms have weighed in on NAMS. 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 report on Wednesday, December 11th. Royal Bank of Canada reissued an “outperform” rating and issued a $40.00 price target on shares of NewAmsterdam Pharma in a report on Friday, January 24th. Needham & Company LLC reaffirmed a “buy” rating and set a $36.00 price objective on shares of NewAmsterdam Pharma in a report on Thursday, December 5th. Finally, HC Wainwright reissued a “buy” rating and issued a $48.00 target price on shares of NewAmsterdam Pharma in a research note on Tuesday, January 14th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $41.60.

NewAmsterdam Pharma Stock Up 0.7 %

The company’s fifty day moving average is $23.03 and its two-hundred day moving average is $20.25.

Insider Activity

In other news, major shareholder Nap B.V. Forgrowth sold 29,846 shares of the business’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $25.54, for a total value of $762,266.84. Following the completion of the transaction, the insider now owns 10,656,172 shares of the company’s stock, valued at $272,158,632.88. The trade was a 0.28 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 404,927 shares of company stock valued at $10,390,787 in the last 90 days. 19.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NAMS. GF Fund Management CO. LTD. bought a new stake in shares of NewAmsterdam Pharma in the fourth quarter worth about $50,000. National Bank of Canada FI bought a new stake in NewAmsterdam Pharma during the 4th quarter worth approximately $51,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in NewAmsterdam Pharma during the 4th quarter worth approximately $80,000. Quarry LP raised its holdings in NewAmsterdam Pharma by 2,469.2% during the 3rd quarter. Quarry LP now owns 6,500 shares of the company’s stock worth $108,000 after buying an additional 6,247 shares during the period. Finally, Barclays PLC lifted its stake in 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 buying an additional 7,199 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.