NewAmsterdam Pharma (NASDAQ:NAMS) Earns Outperform Rating from Royal Bank of Canada

Royal Bank of Canada reiterated their outperform rating on shares of NewAmsterdam Pharma (NASDAQ:NAMS) in a research report report published on Friday morning,Benzinga reports. They currently have a $40.00 price objective on the stock.

NAMS has been the topic of a number of other reports. Scotiabank boosted their target price on NewAmsterdam Pharma from $35.00 to $47.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, December 11th. Needham & Company LLC reiterated a “buy” rating and issued a $36.00 target price on shares of NewAmsterdam Pharma in a research note on Thursday, December 5th. Finally, HC Wainwright restated a “buy” rating and set a $48.00 price target 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 MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $41.60.

NewAmsterdam Pharma Price Performance

NASDAQ:NAMS opened at $23.60 on Friday. The stock’s 50 day simple moving average is $23.55 and its 200-day simple moving average is $19.93. NewAmsterdam Pharma has a 12-month low of $15.19 and a 12-month high of $27.29.

Insiders Place Their Bets

In related news, major shareholder Nap B.V. Forgrowth sold 100,728 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $26.10, for a total value of $2,629,000.80. Following the sale, the insider now owns 10,908,502 shares of the company’s stock, valued at approximately $284,711,902.20. This trade represents a 0.91 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 446,730 shares of company stock valued at $11,438,695 in the last quarter. 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 the stock. Quarry LP increased its position in NewAmsterdam Pharma by 2,469.2% in the 3rd quarter. Quarry LP now owns 6,500 shares of the company’s stock valued at $108,000 after acquiring an additional 6,247 shares during the period. Barclays PLC increased its position 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 acquiring an additional 7,199 shares during the period. Bellevue Group AG acquired a new stake in NewAmsterdam Pharma in the 3rd quarter valued at approximately $128,000. XTX Topco Ltd acquired a new stake in NewAmsterdam Pharma in the 3rd quarter valued at approximately $187,000. Finally, HB Wealth Management LLC acquired a new stake in NewAmsterdam Pharma in the 4th quarter valued at approximately $224,000. 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.