NewAmsterdam Pharma (NASDAQ:NAMS) Shares Down 4.9% – What’s Next?

NewAmsterdam Pharma (NASDAQ:NAMS) traded down 4.9% during trading on Thursday . The stock traded as low as $22.53 and last traded at $22.82. 116,195 shares were traded during mid-day trading, a decline of 78% from the average session volume of 516,675 shares. The stock had previously closed at $24.00.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Scotiabank increased their price objective on NewAmsterdam Pharma from $35.00 to $47.00 and gave the company a “sector outperform” rating in a research report on Wednesday, December 11th. Piper Sandler reissued an “overweight” rating and issued a $37.00 price target on shares of NewAmsterdam Pharma in a report on Monday, September 23rd. HC Wainwright restated a “buy” rating and issued a $48.00 price target on shares of NewAmsterdam Pharma in a research report on Tuesday. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $36.00 price objective on shares of NewAmsterdam Pharma in a research report on Thursday, December 5th. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $38.17.

NewAmsterdam Pharma Stock Down 3.2 %

The company’s fifty day simple moving average is $23.67 and its 200-day simple moving average is $19.77.

Insiders Place Their Bets

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 transaction of $213,420.60. Following 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 446,730 shares of company stock worth $11,438,695 over the last quarter. Company insiders own 19.50% of the company’s stock.

Institutional Investors Weigh In On NewAmsterdam Pharma

A number of large investors have recently bought and sold shares of the business. Quarry LP lifted its holdings in NewAmsterdam Pharma by 2,469.2% during the 3rd quarter. Quarry LP now owns 6,500 shares of the company’s stock worth $108,000 after buying an additional 6,247 shares in the last quarter. Barclays PLC lifted its position in NewAmsterdam Pharma by 1,813.4% in the 3rd quarter. Barclays PLC now owns 7,596 shares of the company’s stock valued at $126,000 after acquiring an additional 7,199 shares in the last quarter. Bellevue Group AG bought a new position in NewAmsterdam Pharma during the 3rd quarter worth about $128,000. XTX Topco Ltd acquired a new stake in shares of NewAmsterdam Pharma in the 3rd quarter valued at about $187,000. Finally, HB Wealth Management LLC acquired a new position in shares of NewAmsterdam Pharma during the fourth quarter worth about $224,000. 89.89% of the stock is currently owned by institutional investors.

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.