NewAmsterdam Pharma (NASDAQ:NAMS) Trading Up 2.6%

Shares of NewAmsterdam Pharma (NASDAQ:NAMS) were up 2.6% on Tuesday . The stock traded as high as $20.26 and last traded at $20.26. Approximately 16,167 shares traded hands during mid-day trading, a decline of 93% from the average daily volume of 232,322 shares. The stock had previously closed at $19.74.

Analyst Ratings Changes

Several research analysts have weighed in on NAMS shares. Piper Sandler started 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. Scotiabank began coverage on NewAmsterdam Pharma in a research note on Thursday, March 14th. They issued a “sector outperform” rating and a $35.00 price target for the company. Royal Bank of Canada upped their price objective on NewAmsterdam Pharma from $25.00 to $31.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. Finally, Guggenheim began coverage on NewAmsterdam Pharma in a report on Thursday, January 18th. They set a “buy” rating and a $30.00 price objective on the stock. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, NewAmsterdam Pharma presently has a consensus rating of “Buy” and an average price target of $33.25.

NewAmsterdam Pharma Trading Up 2.8 %

The company has a fifty day moving average price of $21.51 and a 200-day moving average price of $15.20.

Insider Transactions at NewAmsterdam Pharma

In related news, Director Louis G. Lange purchased 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were bought at an average price of $19.00 per share, for a total transaction of $95,000.00. Following the acquisition, the director now owns 24,878 shares of the company’s stock, valued at approximately $472,682. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director James N. Topper purchased 8,429 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The shares were bought at an average price of $21.50 per share, for a total transaction of $181,223.50. Following the acquisition, the director now owns 3,008,429 shares of the company’s stock, valued at approximately $64,681,223.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Louis G. Lange purchased 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were bought at an average price of $19.00 per share, for a total transaction of $95,000.00. Following the acquisition, the director now directly owns 24,878 shares in the company, valued at approximately $472,682. The disclosure for this purchase can be found here. Insiders own 2.50% of the company’s stock.

Institutional Trading of NewAmsterdam Pharma

A number of hedge funds and other institutional investors have recently bought and sold shares of NAMS. Alyeska Investment Group L.P. bought a new stake in NewAmsterdam Pharma during the fourth quarter valued at about $1,892,000. Schonfeld Strategic Advisors LLC purchased a new stake in NewAmsterdam Pharma in the first quarter valued at about $399,000. Geode Capital Management LLC purchased a new position in shares of NewAmsterdam Pharma in the first quarter worth about $249,000. JPMorgan Chase & Co. raised its stake in shares of NewAmsterdam Pharma by 1,929.7% in the first quarter. JPMorgan Chase & Co. now owns 22,367 shares of the company’s stock worth $301,000 after purchasing an additional 21,265 shares during the last quarter. Finally, Marshall Wace LLP purchased a new position in shares of NewAmsterdam Pharma in the second quarter worth about $302,000. 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.