NewAmsterdam Pharma (NASDAQ:NAMS) Sees Unusually-High Trading Volume

NewAmsterdam Pharma (NASDAQ:NAMS) saw an uptick in trading volume on Tuesday . 195,163 shares were traded during mid-day trading, a decline of 19% from the previous session’s volume of 239,915 shares.The stock last traded at $22.48 and had previously closed at $22.46.

Wall Street Analyst Weigh In

Several analysts recently commented on NAMS shares. Scotiabank began coverage on shares of NewAmsterdam Pharma in a research report on Thursday, March 14th. They set a “sector outperform” rating and a $35.00 price objective on the stock. Royal Bank of Canada boosted their price objective on shares of NewAmsterdam Pharma from $25.00 to $31.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. Guggenheim initiated coverage on NewAmsterdam Pharma in a research note on Thursday, January 18th. They set a “buy” rating and a $30.00 target price on the stock. Finally, Piper Sandler assumed coverage on NewAmsterdam Pharma in a research note on Tuesday, January 16th. They issued an “overweight” rating and a $37.00 price target for the company. Six analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $31.00.

NewAmsterdam Pharma Stock Performance

The firm has a 50 day moving average of $21.52 and a 200-day moving average of $14.04.

Insider Buying and Selling

In other news, Director Louis G. Lange acquired 5,000 shares of the company’s stock in a transaction on Tuesday, February 13th. The stock was bought at an average cost of $19.00 per share, with a total value of $95,000.00. Following the completion of the purchase, the director now directly owns 24,878 shares of the company’s stock, valued at $472,682. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other NewAmsterdam Pharma news, insider Johannes Jacob Piete Kastelein sold 190,476 shares of NewAmsterdam Pharma stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $21.50, for a total value of $4,095,234.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Louis G. Lange bought 5,000 shares of NewAmsterdam Pharma stock in a transaction that occurred on Tuesday, February 13th. The shares were acquired at an average cost of $19.00 per share, for a total transaction of $95,000.00. Following the completion of the transaction, the director now directly owns 24,878 shares in the company, valued at $472,682. The disclosure for this purchase can be found here. 2.50% of the stock is owned by company insiders.

Institutional Trading of NewAmsterdam Pharma

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Wolverine Asset Management LLC acquired a new position in NewAmsterdam Pharma in the third quarter valued at approximately $27,000. Geode Capital Management LLC lifted its stake in shares of NewAmsterdam Pharma by 38.8% in the 2nd quarter. Geode Capital Management LLC now owns 25,768 shares of the company’s stock valued at $306,000 after purchasing an additional 7,209 shares during the last quarter. Schonfeld Strategic Advisors LLC raised its stake in shares of NewAmsterdam Pharma by 12.9% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 64,700 shares of the company’s stock valued at $598,000 after acquiring an additional 7,400 shares during the period. Royal Bank of Canada lifted its stake in NewAmsterdam Pharma by 987.5% during the fourth quarter. Royal Bank of Canada now owns 10,875 shares of the company’s stock worth $121,000 after purchasing an additional 9,875 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in NewAmsterdam Pharma by 1,929.7% during the 1st quarter. JPMorgan Chase & Co. now owns 22,367 shares of the company’s stock valued at $301,000 after acquiring an additional 21,265 shares during the period. Institutional investors and hedge funds own 89.89% of the company’s stock.

NewAmsterdam Pharma Company Profile

NewAmsterdam Pharma Company N.V., a clinical-stage biopharmaceutical company, develops oral and non-statin medicines for patients at high risk of cardiovascular disease. Its lead product candidate is obicetrapib, a next generation, oral, and low-dose cholesteryl ester transfer protein (CETP) inhibitor, that is in four ongoing Phase 3 and Phase 2b clinical trials as both a monotherapy and a combination therapy with ezetimibe for lowering LDL-C and preventing major adverse cardiovascular events (MACE).