NewAmsterdam Pharma’s (NAMS) “Buy” Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of NewAmsterdam Pharma (NASDAQ:NAMS) in a report released on Thursday,Benzinga reports. The brokerage currently has a $36.00 price target on the stock.

Other analysts have also recently issued research reports about the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $31.00 target price on shares of NewAmsterdam Pharma in a research report on Thursday, September 5th. 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 equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, NewAmsterdam Pharma has a consensus rating of “Buy” and an average price target of $33.80.

NewAmsterdam Pharma Price Performance

Shares of NASDAQ:NAMS opened at $20.20 on Thursday. The business’s 50 day moving average is $19.07 and its 200 day moving average is $18.57. NewAmsterdam Pharma has a 52-week low of $8.90 and a 52-week high of $26.35.

Insider Buying and Selling

In other news, major shareholder Nap B.V. Forgrowth sold 33,273 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $25.08, for a total value of $834,486.84. Following the transaction, the insider now owns 11,778,760 shares in the company, valued at $295,411,300.80. This trade represents a 0.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Louise Frederika Kooij sold 45,000 shares of NewAmsterdam Pharma stock in a transaction that occurred on Tuesday, October 1st. The stock was 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. Over the last three months, insiders have sold 86,803 shares of company stock valued at $1,755,307. Corporate insiders own 19.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NAMS. Barclays PLC raised its position 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 valued at $126,000 after buying an additional 7,199 shares during the last quarter. Geode Capital Management LLC grew its stake in NewAmsterdam Pharma by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 86,322 shares of the company’s stock valued at $1,433,000 after acquiring an additional 1,399 shares in the last quarter. M&T Bank Corp raised 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 acquiring an additional 9,593 shares during the last quarter. Frazier Life Sciences Management L.P. lifted its stake 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 worth $213,396,000 after purchasing an additional 628,251 shares in the last quarter. Finally, XTX Topco Ltd purchased a new position in NewAmsterdam Pharma in the 3rd quarter worth approximately $187,000. 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.