NewAmsterdam Pharma (NASDAQ:NAMS) Shares Gap Down – Here’s What Happened

NewAmsterdam Pharma (NASDAQ:NAMS) gapped down before the market opened on Wednesday . The stock had previously closed at $26.61, but opened at $26.00. NewAmsterdam Pharma shares last traded at $26.71, with a volume of 88,008 shares trading hands.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $31.00 price objective on shares of NewAmsterdam Pharma in a report on Thursday, September 5th. Piper Sandler reaffirmed an “overweight” rating and set a $37.00 price target on shares of NewAmsterdam Pharma in a research report on Monday, September 23rd. Needham & Company LLC reissued a “buy” rating and issued a $36.00 price objective on shares of NewAmsterdam Pharma in a report on Thursday, December 5th. Finally, Scotiabank upped their target price on NewAmsterdam Pharma from $35.00 to $47.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, December 11th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $36.20.

NewAmsterdam Pharma Stock Performance

The stock has a 50-day moving average price of $21.16 and a 200 day moving average price of $18.90.

Insider Activity

In other NewAmsterdam Pharma news, major shareholder Nap B.V. Forgrowth sold 33,273 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $25.08, for a total value of $834,486.84. Following the completion of the sale, the insider now directly owns 11,778,760 shares of the company’s stock, valued at $295,411,300.80. This trade represents a 0.28 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Louise Frederika Kooij sold 45,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $15.72, for a total transaction of $707,400.00. The disclosure for this sale can be found here. Insiders have sold 252,814 shares of company stock worth $5,970,327 in the last quarter. Corporate insiders own 19.50% of the company’s stock.

Institutional Trading of NewAmsterdam Pharma

Hedge funds have recently modified their holdings of the stock. Frazier Life Sciences Management L.P. raised its position in shares of NewAmsterdam Pharma by 5.1% during the 3rd quarter. Frazier Life Sciences Management L.P. now owns 12,855,194 shares of the company’s stock worth $213,396,000 after acquiring an additional 628,251 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of NewAmsterdam Pharma by 51.1% during the 3rd quarter. Janus Henderson Group PLC now owns 1,540,729 shares of the company’s stock worth $25,607,000 after buying an additional 520,772 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of NewAmsterdam Pharma by 23.0% in the 2nd quarter. Millennium Management LLC now owns 1,165,429 shares of the company’s stock valued at $22,388,000 after buying an additional 217,902 shares in the last quarter. Jennison Associates LLC raised its stake in NewAmsterdam Pharma by 8.9% during the 3rd quarter. Jennison Associates LLC now owns 1,020,278 shares of the company’s stock worth $16,937,000 after acquiring an additional 83,115 shares in the last quarter. Finally, Deerfield Management Company L.P. Series C boosted its stake in NewAmsterdam Pharma by 30.3% in the second quarter. Deerfield Management Company L.P. Series C now owns 869,250 shares of the company’s stock valued at $16,698,000 after acquiring an additional 202,250 shares in the last quarter. 89.89% of the stock is currently 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.