NewAmsterdam Pharma (NASDAQ:NAMS) Sets New 52-Week High – Here’s What Happened

NewAmsterdam Pharma (NASDAQ:NAMS)’s stock price reached a new 52-week high during trading on Wednesday . The stock traded as high as $27.53 and last traded at $27.53, with a volume of 257 shares changing hands. The stock had previously closed at $26.04.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. HC Wainwright started coverage on NewAmsterdam Pharma in a research note on Monday, December 30th. They set a “buy” rating and a $48.00 price objective for the company. Piper Sandler restated an “overweight” rating and issued a $37.00 price objective on shares of NewAmsterdam Pharma in a research report on Monday, September 23rd. Needham & Company LLC reiterated a “buy” rating and issued a $36.00 target price on shares of NewAmsterdam Pharma in a research note on Thursday, December 5th. Finally, Scotiabank lifted their price objective on shares of NewAmsterdam Pharma from $35.00 to $47.00 and gave the company a “sector outperform” rating in a report on Wednesday, December 11th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $38.17.

NewAmsterdam Pharma Stock Performance

The business’s 50 day moving average price is $23.27 and its 200 day moving average price is $19.64.

Insider Transactions at NewAmsterdam Pharma

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

Institutional Investors Weigh In On NewAmsterdam Pharma

Several institutional investors and hedge funds have recently modified their holdings of the company. Quarry LP grew its holdings in shares of NewAmsterdam Pharma by 2,469.2% in the 3rd quarter. Quarry LP now owns 6,500 shares of the company’s stock worth $108,000 after acquiring an additional 6,247 shares during the period. Barclays PLC grew its holdings in NewAmsterdam Pharma by 1,813.4% in the third quarter. Barclays PLC now owns 7,596 shares of the company’s stock valued at $126,000 after purchasing an additional 7,199 shares during the last quarter. Bellevue Group AG purchased a new position in shares of NewAmsterdam Pharma in the third quarter valued at $128,000. XTX Topco Ltd acquired a new position in shares of NewAmsterdam Pharma during the 3rd quarter worth $187,000. Finally, JPMorgan Chase & Co. boosted its position in shares of NewAmsterdam Pharma by 176.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 22,351 shares of the company’s stock worth $371,000 after buying an additional 14,280 shares in the last quarter. 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.