NewAmsterdam Pharma (NASDAQ:NAMS) Hits New 12-Month High on Analyst Upgrade

NewAmsterdam Pharma (NASDAQ:NAMS) shares reached a new 52-week high 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 traded. The stock had previously closed at $26.19.

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

Insider Buying and Selling at NewAmsterdam Pharma

In other news, CAO Louise Frederika Kooij sold 45,000 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $15.72, for a total value of $707,400.00. The sale was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Nap B.V. Forgrowth sold 8,530 shares of the stock in a transaction on Friday, November 15th. The shares were sold at an average price of $25.02, for a total transaction of $213,420.60. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. Insiders sold 86,803 shares of company stock worth $1,755,307 over the last 90 days. 19.50% of the stock is owned by insiders.

Institutional Investors Weigh In On NewAmsterdam Pharma

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC increased its stake in NewAmsterdam Pharma by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 86,322 shares of the company’s stock worth $1,433,000 after buying an additional 1,399 shares during the period. Banque Cantonale Vaudoise purchased a new position in NewAmsterdam Pharma in the 2nd quarter worth about $38,000. Quarry LP increased its stake in NewAmsterdam Pharma by 2,469.2% in the 3rd quarter. Quarry LP now owns 6,500 shares of the company’s stock worth $108,000 after buying an additional 6,247 shares during the period. Barclays PLC increased its stake in NewAmsterdam Pharma by 1,813.4% in the 3rd quarter. Barclays PLC now owns 7,596 shares of the company’s stock worth $126,000 after buying an additional 7,199 shares during the period. Finally, Bellevue Group AG purchased a new position in NewAmsterdam Pharma in the 3rd quarter worth about $128,000. Hedge funds and other institutional investors own 89.89% of the company’s stock.

NewAmsterdam Pharma Stock Down 2.4 %

The company’s 50 day moving average is $20.08 and its 200 day moving average is $18.58.

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.