NewAmsterdam Pharma (NASDAQ:NAMS) Shares Up 6.7%

Shares of NewAmsterdam Pharma (NASDAQ:NAMS) shot up 6.7% during mid-day trading on Tuesday . The company traded as high as $21.78 and last traded at $21.58. 22,961 shares were traded during trading, a decline of 90% from the average session volume of 240,353 shares. The stock had previously closed at $20.23.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on NAMS. Scotiabank started coverage on NewAmsterdam Pharma in a research note on Thursday, March 14th. They set a “sector outperform” rating and a $35.00 price target for the company. Piper Sandler assumed coverage on NewAmsterdam Pharma in a report on Tuesday, January 16th. They issued an “overweight” rating and a $37.00 price target on the stock. Royal Bank of Canada lifted their price target on NewAmsterdam Pharma from $25.00 to $31.00 and gave the company an “outperform” rating in a report on Thursday, February 29th. Finally, Guggenheim assumed coverage on NewAmsterdam Pharma in a report on Thursday, January 18th. They issued a “buy” rating and a $30.00 price target on the stock. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $33.25.

NewAmsterdam Pharma Stock Performance

The company has a 50 day moving average of $21.55 and a two-hundred day moving average of $15.64.

Insider Buying and Selling

In other NewAmsterdam Pharma news, Director Louis G. Lange bought 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The shares were purchased at an average cost of $19.00 per share, for a total transaction of $95,000.00. Following the purchase, the director now directly owns 24,878 shares in the company, valued at $472,682. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director James N. Topper purchased 8,429 shares of the stock in a transaction on Tuesday, March 26th. The stock was bought at an average price of $21.50 per share, with a total value of $181,223.50. Following the transaction, the director now owns 3,008,429 shares in the company, valued at approximately $64,681,223.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Louis G. Lange purchased 5,000 shares of the stock in a transaction on Tuesday, February 13th. The shares were purchased at an average cost of $19.00 per share, with a total value of $95,000.00. Following the transaction, the director now owns 24,878 shares in the company, valued at approximately $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 institutional investors and hedge funds have recently added to or reduced their stakes in NAMS. Fcpm Iii Services B.V. acquired a new stake in NewAmsterdam Pharma during the 4th quarter worth about $132,157,000. Opaleye Management Inc. acquired a new stake in NewAmsterdam Pharma during the 4th quarter worth about $2,964,000. Parkman Healthcare Partners LLC lifted its position in NewAmsterdam Pharma by 20.8% during the 4th quarter. Parkman Healthcare Partners LLC now owns 300,750 shares of the company’s stock worth $3,359,000 after acquiring an additional 51,726 shares during the period. Affinity Asset Advisors LLC lifted its position in NewAmsterdam Pharma by 25.0% during the 3rd quarter. Affinity Asset Advisors LLC now owns 125,000 shares of the company’s stock worth $1,156,000 after acquiring an additional 25,000 shares during the period. Finally, Yarbrough Capital LLC acquired a new stake in NewAmsterdam Pharma during the 1st quarter worth about $567,000. Institutional investors and hedge funds own 89.89% of the company’s stock.

NewAmsterdam Pharma Company Profile

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.