NewAmsterdam Pharma (NASDAQ:NAMS) Sees Large Volume Increase

NewAmsterdam Pharma (NASDAQ:NAMS) shares saw unusually-strong trading volume on Monday . Approximately 249,175 shares changed hands during trading, a decline of 2% from the previous session’s volume of 253,713 shares.The stock last traded at $16.66 and had previously closed at $16.23.

Analyst Ratings Changes

NAMS has been the topic of a number of research reports. Needham & Company LLC initiated coverage on NewAmsterdam Pharma in a research report on Wednesday, August 28th. They set a “buy” rating and a $36.00 price objective on the stock. Piper Sandler reaffirmed an “overweight” rating and issued a $37.00 price objective on shares of NewAmsterdam Pharma in a research note on Monday, September 23rd. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $31.00 target price on shares of NewAmsterdam Pharma in a research report on Thursday, September 5th. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $33.80.

NewAmsterdam Pharma Trading Up 3.1 %

The company has a fifty day moving average price of $16.58 and a 200 day moving average price of $18.99.

NewAmsterdam Pharma (NASDAQ:NAMS) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.51) EPS for the quarter, beating analysts’ consensus estimates of ($0.59) by $0.08. The business had revenue of $2.28 million for the quarter, compared to analysts’ expectations of $2.20 million. On average, sell-side analysts expect that NewAmsterdam Pharma will post -2.06 EPS for the current year.

Institutional Trading of NewAmsterdam Pharma

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Banque Cantonale Vaudoise bought a new stake in NewAmsterdam Pharma during the 2nd quarter valued at $38,000. Rosalind Advisors Inc. purchased a new stake in shares of NewAmsterdam Pharma during the second quarter worth about $194,000. Wolverine Asset Management LLC grew its stake in shares of NewAmsterdam Pharma by 117.7% in the second quarter. Wolverine Asset Management LLC now owns 15,524 shares of the company’s stock worth $298,000 after purchasing an additional 8,394 shares during the last quarter. Sei Investments Co. increased its holdings in NewAmsterdam Pharma by 49.1% during the 2nd quarter. Sei Investments Co. now owns 24,561 shares of the company’s stock valued at $472,000 after purchasing an additional 8,087 shares during the period. Finally, Yarbrough Capital LLC bought a new position in NewAmsterdam Pharma during the 1st quarter valued at approximately $567,000. Hedge funds and other 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.