NewAmsterdam Pharma (NASDAQ:NAMS) Shares Gap Up – Here’s Why

NewAmsterdam Pharma (NASDAQ:NAMS)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $21.05, but opened at $21.80. NewAmsterdam Pharma shares last traded at $21.80, with a volume of 1,000 shares.

Analysts Set New Price Targets

A number of equities research analysts recently commented on NAMS shares. Needham & Company LLC reiterated a “buy” rating and issued a $36.00 target price on shares of NewAmsterdam Pharma in a research report on Thursday, November 21st. Piper Sandler reaffirmed an “overweight” rating and issued a $37.00 price objective on shares of NewAmsterdam Pharma in a report on Monday, September 23rd. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $31.00 target price on shares of NewAmsterdam Pharma in a report on Thursday, September 5th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $33.80.

NewAmsterdam Pharma Stock Performance

The business’s 50 day moving average price is $19.17 and its 200 day moving average price is $18.57.

Insider Activity at NewAmsterdam Pharma

In other NewAmsterdam Pharma news, major shareholder Nap B.V. Forgrowth sold 8,530 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $25.02, for a total transaction of $213,420.60. Following the transaction, the insider now owns 11,812,033 shares in the company, valued at approximately $295,537,065.66. This represents a 0.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Louise Frederika Kooij sold 45,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $15.72, for a total value of $707,400.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 86,803 shares of company stock worth $1,755,307. 19.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On NewAmsterdam Pharma

Several institutional investors and hedge funds have recently added to or reduced their stakes in NAMS. Banque Cantonale Vaudoise acquired a new stake in shares of NewAmsterdam Pharma in the second quarter valued at about $38,000. Quarry LP lifted its stake in NewAmsterdam Pharma by 2,469.2% in the 3rd quarter. Quarry LP now owns 6,500 shares of the company’s stock valued at $108,000 after buying an additional 6,247 shares in the last quarter. Barclays PLC boosted its holdings in NewAmsterdam Pharma by 1,813.4% in the 3rd quarter. Barclays PLC now owns 7,596 shares of the company’s stock worth $126,000 after buying an additional 7,199 shares during the last quarter. Bellevue Group AG purchased a new stake in NewAmsterdam Pharma during the 3rd quarter worth approximately $128,000. Finally, XTX Topco Ltd acquired a new position in NewAmsterdam Pharma in the 3rd quarter valued at $187,000. Hedge funds and other institutional investors 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.