NewAmsterdam Pharma (NASDAQ:NAMS) Shares Down 2.7% – Here’s What Happened

NewAmsterdam Pharma (NASDAQ:NAMS) fell 2.7% during trading on Friday . The stock traded as low as $19.87 and last traded at $20.23. 43,704 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 295,765 shares. The stock had previously closed at $20.80.

Analyst Ratings Changes

A number of brokerages have recently issued reports on NAMS. Needham & Company LLC reiterated a “buy” rating and set a $36.00 price objective on shares of NewAmsterdam Pharma in a research note on Thursday, November 21st. Royal Bank of Canada reiterated an “outperform” rating and set a $31.00 price objective on shares of NewAmsterdam Pharma in a research note on Thursday, September 5th. Finally, Piper Sandler reiterated an “overweight” rating and set a $37.00 price objective on shares of NewAmsterdam Pharma in a research note on Monday, September 23rd. Six research 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 price target of $33.80.

NewAmsterdam Pharma Stock Down 4.6 %

The business has a 50 day moving average of $19.55 and a two-hundred day moving average of $18.58.

Insider Activity at NewAmsterdam Pharma

In other NewAmsterdam Pharma news, CAO Louise Frederika Kooij sold 45,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $15.72, for a total value of $707,400.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Nap B.V. Forgrowth sold 8,530 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $25.02, for a total value of $213,420.60. Following the completion of the transaction, the insider now directly owns 11,812,033 shares in the company, valued at approximately $295,537,065.66. This represents a 0.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 86,803 shares of company stock worth $1,755,307. Company insiders own 19.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Barclays PLC grew its holdings in NewAmsterdam Pharma by 1,813.4% in the 3rd 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. Geode Capital Management LLC grew its holdings in NewAmsterdam Pharma by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 86,322 shares of the company’s stock valued at $1,433,000 after buying an additional 1,399 shares in the last quarter. M&T Bank Corp grew its holdings in NewAmsterdam Pharma by 54.1% in the 3rd 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. Frazier Life Sciences Management L.P. grew its holdings in NewAmsterdam Pharma by 5.1% in 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 in the last quarter. Finally, XTX Topco Ltd bought a new stake in shares of NewAmsterdam Pharma during the 3rd quarter valued at $187,000. 89.89% of the stock is owned by institutional investors and hedge funds.

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.