NewAmsterdam Pharma (NASDAQ:NAMS) Sets New 1-Year High on Analyst Upgrade

NewAmsterdam Pharma (NASDAQ:NAMS) reached a new 52-week high during trading on Wednesday after Scotiabank raised their price target on the stock from $35.00 to $47.00. Scotiabank currently has a sector outperform rating on the stock. NewAmsterdam Pharma traded as high as $27.29 and last traded at $26.15, with a volume of 208418 shares. The stock had previously closed at $26.19.

A number of other equities analysts also recently commented on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $36.00 target price on shares of NewAmsterdam Pharma in a research note on Thursday, December 5th. Piper Sandler reaffirmed an “overweight” rating and set a $37.00 price target on shares of NewAmsterdam Pharma in a research report on Monday, September 23rd. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $31.00 price objective on shares of NewAmsterdam Pharma in a research report on Thursday, September 5th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $36.20.

Insider Buying and Selling at NewAmsterdam Pharma

In related news, major shareholder Nap B.V. Forgrowth sold 33,273 shares of the 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 transaction, the insider now owns 11,778,760 shares of the company’s stock, valued at approximately $295,411,300.80. This represents a 0.28 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Louise Frederika Kooij sold 45,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $15.72, for a total value of $707,400.00. The disclosure for this sale can be found here. Insiders sold a total of 86,803 shares of company stock worth $1,755,307 over the last three months. Insiders own 19.50% of the company’s stock.

Institutional Trading of NewAmsterdam Pharma

Several hedge funds have recently made changes to their positions in NAMS. Banque Cantonale Vaudoise purchased a new stake in NewAmsterdam Pharma during the 2nd quarter worth approximately $38,000. Quarry LP grew its stake 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 worth $108,000 after acquiring an additional 6,247 shares in the last quarter. Barclays PLC grew its stake 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 worth $126,000 after acquiring an additional 7,199 shares in the last quarter. Bellevue Group AG purchased a new stake in shares of NewAmsterdam Pharma during the third quarter worth $128,000. Finally, XTX Topco Ltd acquired a new stake in shares of NewAmsterdam Pharma in the third quarter valued at $187,000. Institutional investors and hedge funds own 89.89% of the company’s stock.

NewAmsterdam Pharma Stock Down 1.9 %

The stock has a fifty day moving average of $20.40 and a 200-day moving average of $18.68.

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.