NewAmsterdam Pharma (NASDAQ:NAMS) Sees Significant Increase in Short Interest

NewAmsterdam Pharma (NASDAQ:NAMS) saw a significant growth in short interest in November. As of November 30th, there was short interest totalling 2,590,000 shares, a growth of 156.4% from the November 15th total of 1,010,000 shares. Based on an average daily volume of 567,700 shares, the days-to-cover ratio is currently 4.6 days. Currently, 6.0% of the company’s stock are sold short.

NewAmsterdam Pharma Price Performance

Shares of NASDAQ:NAMS opened at $24.69 on Friday. The business’s 50 day moving average is $20.53 and its 200 day moving average is $18.72. NewAmsterdam Pharma has a 52-week low of $9.72 and a 52-week high of $27.29.

Analysts Set New Price Targets

NAMS has been the subject of a number of analyst reports. Royal Bank of Canada restated an “outperform” rating and issued a $31.00 price target on shares of NewAmsterdam Pharma in a research report on Thursday, September 5th. Needham & Company LLC restated 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 report on Monday, September 23rd. Finally, Scotiabank increased their price objective on shares of NewAmsterdam Pharma from $35.00 to $47.00 and gave the stock a “sector outperform” rating in a research note on Wednesday. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, NewAmsterdam Pharma currently has a consensus rating of “Buy” and a consensus target price of $36.20.

Insider Activity 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 stock was sold at an average price of $15.72, for a total transaction of $707,400.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Nap B.V. Forgrowth sold 8,530 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was 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 $295,537,065.66. The trade was a 0.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 86,803 shares of company stock worth $1,755,307 over the last ninety days. 19.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in NAMS. Barclays PLC boosted its position in NewAmsterdam Pharma by 1,813.4% during 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 in the last quarter. Geode Capital Management LLC boosted its position in NewAmsterdam Pharma by 1.6% during the third quarter. Geode Capital Management LLC now owns 86,322 shares of the company’s stock valued at $1,433,000 after purchasing an additional 1,399 shares in the last quarter. M&T Bank Corp grew its stake in NewAmsterdam Pharma by 54.1% in the third quarter. M&T Bank Corp now owns 27,328 shares of the company’s stock valued at $454,000 after purchasing an additional 9,593 shares during the last quarter. Frazier Life Sciences Management L.P. raised its holdings in NewAmsterdam Pharma by 5.1% in the third 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 stake in shares of NewAmsterdam Pharma during the third quarter valued at about $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.