NewAmsterdam Pharma (NASDAQ:NAMS) Reaches New 12-Month High – Time to Buy?

NewAmsterdam Pharma (NASDAQ:NAMS)’s stock price hit a new 52-week high on Wednesday . The company traded as high as $27.53 and last traded at $27.53, with a volume of 257 shares. The stock had previously closed at $26.04.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on NAMS. Scotiabank lifted their price target on shares of NewAmsterdam Pharma from $35.00 to $47.00 and gave the company a “sector outperform” rating in a report on Wednesday, December 11th. Piper Sandler reaffirmed an “overweight” rating and set a $37.00 target price on shares of NewAmsterdam Pharma in a report on Monday, September 23rd. HC Wainwright initiated coverage on NewAmsterdam Pharma in a report on Monday, December 30th. They issued a “buy” rating and a $48.00 price target on the stock. Finally, Needham & Company LLC restated a “buy” rating and set a $36.00 price objective on shares of NewAmsterdam Pharma in a research note on Thursday, December 5th. Seven analysts have rated the stock with a buy rating, According to MarketBeat, NewAmsterdam Pharma presently has a consensus rating of “Buy” and a consensus price target of $38.17.

NewAmsterdam Pharma Price Performance

The firm’s fifty day moving average is $22.94 and its two-hundred day moving average is $19.56.

Insiders Place Their Bets

In related news, major shareholder Nap B.V. Forgrowth sold 33,273 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $25.08, for a total transaction of $834,486.84. Following the completion of the transaction, the insider now owns 11,778,760 shares of the company’s stock, valued at $295,411,300.80. This trade represents a 0.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In the last three months, insiders have sold 446,730 shares of company stock worth $11,438,695. 19.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On NewAmsterdam Pharma

Large investors have recently made changes to their positions in the business. JPMorgan Chase & Co. boosted its stake in shares of NewAmsterdam Pharma by 176.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 22,351 shares of the company’s stock worth $371,000 after acquiring an additional 14,280 shares in the last quarter. Barclays PLC increased its stake in NewAmsterdam Pharma by 1,813.4% in the 3rd quarter. Barclays PLC now owns 7,596 shares of the company’s stock worth $126,000 after purchasing an additional 7,199 shares in the last quarter. Geode Capital Management LLC raised its holdings in NewAmsterdam Pharma by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 86,322 shares of the company’s stock worth $1,433,000 after buying an additional 1,399 shares during the period. M&T Bank Corp lifted its stake in NewAmsterdam Pharma by 54.1% during the third quarter. M&T Bank Corp now owns 27,328 shares of the company’s stock valued at $454,000 after buying an additional 9,593 shares in the last quarter. Finally, Frazier Life Sciences Management L.P. increased its position in shares of NewAmsterdam Pharma by 5.1% in the third quarter. Frazier Life Sciences Management L.P. now owns 12,855,194 shares of the company’s stock worth $213,396,000 after acquiring an additional 628,251 shares in the last quarter. Institutional investors own 89.89% of the company’s stock.

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.