NewAmsterdam Pharma (NASDAQ:NAMS) Given “Buy” Rating at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of NewAmsterdam Pharma (NASDAQ:NAMS) in a research note released on Thursday morning,Benzinga reports. They currently have a $36.00 price target on the stock.

Several other equities analysts also recently issued reports on NAMS. Royal Bank of Canada reiterated an “outperform” rating and set a $31.00 price objective on shares of NewAmsterdam Pharma in a research report on Thursday, September 5th. Piper Sandler reiterated an “overweight” rating and set a $37.00 price target on shares of NewAmsterdam Pharma in a research report on Monday, September 23rd. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $33.80.

NewAmsterdam Pharma Trading Down 0.3 %

NASDAQ:NAMS traded down $0.06 during mid-day trading on Thursday, hitting $20.06. The stock had a trading volume of 220,548 shares, compared to its average volume of 291,496. NewAmsterdam Pharma has a 52 week low of $8.90 and a 52 week high of $26.35. The company has a 50 day simple moving average of $18.98 and a 200-day simple moving average of $18.63.

Insider Buying and Selling

In other NewAmsterdam Pharma news, major shareholder Nap B.V. Forgrowth sold 8,530 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $25.02, for a total value of $213,420.60. Following the completion of the sale, the insider now directly owns 11,812,033 shares of the company’s stock, valued at approximately $295,537,065.66. This represents a 0.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Louise Frederika Kooij sold 45,000 shares of the firm’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 a total of 86,803 shares of company stock valued at $1,755,307 over the last quarter. Corporate insiders own 19.50% of the company’s stock.

Institutional Trading of NewAmsterdam Pharma

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Janus Henderson Group PLC acquired a new stake in shares of NewAmsterdam Pharma during the 1st quarter valued at $15,018,000. abrdn plc lifted its stake in NewAmsterdam Pharma by 69.8% during the third quarter. abrdn plc now owns 129,060 shares of the company’s stock valued at $2,142,000 after buying an additional 53,060 shares in the last quarter. Millennium Management LLC boosted its holdings in shares of NewAmsterdam Pharma by 23.0% in the second quarter. Millennium Management LLC now owns 1,165,429 shares of the company’s stock worth $22,388,000 after buying an additional 217,902 shares during the period. Banque Cantonale Vaudoise purchased a new position in shares of NewAmsterdam Pharma in the second quarter worth approximately $38,000. Finally, Deerfield Management Company L.P. Series C raised its holdings in shares of NewAmsterdam Pharma by 30.3% during 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 during the period. 89.89% of the stock is owned by institutional investors and hedge funds.

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.