NewAmsterdam Pharma (NASDAQ:NAMS) Trading 4.1% Higher – Still a Buy?

NewAmsterdam Pharma (NASDAQ:NAMS) was up 4.1% during trading on Friday . The stock traded as high as $23.24 and last traded at $22.67. Approximately 666,882 shares traded hands during trading, an increase of 2% from the average daily volume of 653,617 shares. The stock had previously closed at $21.77.

Analysts Set New Price Targets

Several research firms recently weighed in on NAMS. Royal Bank of Canada reissued an “outperform” rating and issued a $40.00 target price on shares of NewAmsterdam Pharma in a research note on Friday, January 24th. Needham & Company LLC reaffirmed a “buy” rating and issued a $36.00 price objective on shares of NewAmsterdam Pharma in a report on Thursday, December 5th. HC Wainwright reissued a “buy” rating and issued a $48.00 price objective on shares of NewAmsterdam Pharma in a report on Tuesday, January 14th. Finally, Scotiabank raised their target price on shares of NewAmsterdam Pharma from $35.00 to $47.00 and gave the stock a “sector outperform” rating in a report on Wednesday, December 11th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $41.60.

NewAmsterdam Pharma Stock Performance

The company’s 50-day moving average price is $23.52 and its two-hundred day moving average price is $19.97.

Insiders Place Their Bets

In related news, major shareholder Nap B.V. Forgrowth sold 29,846 shares of the stock in a transaction on Monday, December 30th. The stock was sold at an average price of $25.54, for a total value of $762,266.84. Following the completion of the sale, the insider now directly owns 10,656,172 shares of the company’s stock, valued at approximately $272,158,632.88. This represents a 0.28 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last three months, insiders have sold 446,730 shares of company stock worth $11,438,695. Corporate insiders own 19.50% of the company’s stock.

Hedge Funds Weigh In On NewAmsterdam Pharma

A number of hedge funds and other institutional investors have recently modified their holdings of NAMS. Geode Capital Management LLC raised its position in NewAmsterdam Pharma by 1.6% in the third quarter. Geode Capital Management LLC now owns 86,322 shares of the company’s stock worth $1,433,000 after acquiring an additional 1,399 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of NewAmsterdam Pharma in the fourth quarter valued at $80,000. Quarry LP increased its position in shares of NewAmsterdam Pharma by 2,469.2% during the third quarter. Quarry LP now owns 6,500 shares of the company’s stock valued at $108,000 after buying an additional 6,247 shares during the period. Barclays PLC increased its holdings in NewAmsterdam Pharma by 1,813.4% during the 3rd quarter. Barclays PLC now owns 7,596 shares of the company’s stock worth $126,000 after acquiring an additional 7,199 shares during the period. Finally, Bellevue Group AG purchased a new position in NewAmsterdam Pharma during the third quarter worth about $128,000. Hedge funds and other institutional investors own 89.89% of the company’s stock.

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.