NewAmsterdam Pharma’s (NAMS) “Outperform” Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada restated their outperform rating on shares of NewAmsterdam Pharma (NASDAQ:NAMS) in a research note issued to investors on Friday,Benzinga reports. They currently have a $40.00 price objective on the stock.

Several other equities analysts also recently issued reports on the stock. Needham & Company LLC restated a “buy” rating and set a $36.00 price objective on shares of NewAmsterdam Pharma in a report on Thursday, December 5th. Scotiabank upped their price objective on shares of NewAmsterdam Pharma from $35.00 to $47.00 and gave the company a “sector outperform” rating in a report on Wednesday, December 11th. Finally, HC Wainwright restated a “buy” rating and set a $48.00 price objective on shares of NewAmsterdam Pharma in a report on Tuesday, January 14th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, NewAmsterdam Pharma currently has an average rating of “Buy” and a consensus price target of $41.60.

NewAmsterdam Pharma Trading Up 1.7 %

Shares of NewAmsterdam Pharma stock opened at $23.60 on Friday. The company has a 50-day simple moving average of $23.55 and a two-hundred day simple moving average of $19.93. NewAmsterdam Pharma has a one year low of $15.19 and a one year high of $27.29.

Insiders Place Their Bets

In other news, major shareholder Nap B.V. Forgrowth sold 166,011 shares of the stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $25.39, for a total transaction of $4,215,019.29. Following the transaction, the insider now owns 11,150,461 shares in the company, valued at $283,110,204.79. This trade represents a 1.47 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In the last 90 days, insiders have sold 446,730 shares of company stock worth $11,438,695. Corporate insiders own 19.50% of the company’s stock.

Institutional Trading of NewAmsterdam Pharma

A number of hedge funds and other institutional investors have recently modified their holdings of NAMS. Quarry LP boosted its holdings in NewAmsterdam Pharma by 2,469.2% during 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 boosted its stake in shares of 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 buying an additional 7,199 shares during the period. Bellevue Group AG purchased a new stake in NewAmsterdam Pharma during the third quarter worth approximately $128,000. XTX Topco Ltd purchased a new stake in NewAmsterdam Pharma during the third quarter worth approximately $187,000. Finally, HB Wealth Management LLC purchased a new stake in NewAmsterdam Pharma during the fourth quarter worth approximately $224,000. 89.89% of the stock is owned by institutional investors and hedge funds.

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.