NewAmsterdam Pharma (NASDAQ:NAMS) Receives Buy Rating from HC Wainwright

NewAmsterdam Pharma (NASDAQ:NAMS)‘s stock had its “buy” rating reaffirmed by equities researchers at HC Wainwright in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $48.00 price target on the stock. HC Wainwright’s price objective would indicate a potential upside of 95.28% from the stock’s current price.

Several other equities research analysts also recently issued reports on NAMS. Piper Sandler reiterated an “overweight” rating and issued a $37.00 target price on shares of NewAmsterdam Pharma in a research note on Monday, September 23rd. Scotiabank raised 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. Finally, Needham & Company LLC restated a “buy” rating and issued a $36.00 price target on shares of NewAmsterdam Pharma in a research note on Thursday, December 5th. Seven analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $38.17.

NewAmsterdam Pharma Stock Performance

Shares of NAMS opened at $24.58 on Tuesday. The company’s fifty day simple moving average is $23.54 and its 200 day simple moving average is $19.71. NewAmsterdam Pharma has a 1-year low of $15.19 and a 1-year high of $27.29.

Insiders Place Their Bets

In other news, major shareholder Nap B.V. Forgrowth sold 8,530 shares of the stock in a transaction 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 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 446,730 shares of company stock worth $11,438,695 in the last quarter. Corporate insiders own 19.50% of the company’s stock.

Institutional Trading of NewAmsterdam Pharma

A number of institutional investors and hedge funds have recently made changes to their positions in NAMS. FMR LLC boosted its holdings in shares of NewAmsterdam Pharma by 35.6% in the 3rd quarter. FMR LLC now owns 330,412 shares of the company’s stock valued at $5,485,000 after purchasing an additional 86,712 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in NewAmsterdam Pharma by 1,231.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 239,283 shares of the company’s stock valued at $3,972,000 after buying an additional 221,305 shares in the last quarter. State Street Corp grew its position in NewAmsterdam Pharma by 168.7% in the third quarter. State Street Corp now owns 37,915 shares of the company’s stock valued at $629,000 after acquiring an additional 23,805 shares during the last quarter. abrdn plc raised its stake in NewAmsterdam Pharma by 69.8% during the third quarter. abrdn plc now owns 129,060 shares of the company’s stock worth $2,142,000 after acquiring an additional 53,060 shares in the last quarter. Finally, Millennium Management LLC boosted its stake 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 purchasing an additional 217,902 shares in the last quarter. 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.