NewAmsterdam Pharma (NASDAQ:NAMS) Sees Large Volume Increase

NewAmsterdam Pharma (NASDAQ:NAMSGet Free Report) saw unusually-high trading volume on Monday . Approximately 136,045 shares traded hands during trading, a decline of 43% from the previous session’s volume of 239,271 shares.The stock last traded at $23.06 and had previously closed at $23.65.

Wall Street Analyst Weigh In

NAMS has been the subject of a number of research reports. Scotiabank started coverage on shares of NewAmsterdam Pharma in a research note on Thursday, March 14th. They set a “sector outperform” rating and a $35.00 target price for the company. Royal Bank of Canada increased their price objective on shares of NewAmsterdam Pharma from $25.00 to $31.00 and gave the company an “outperform” rating in a report on Thursday, February 29th. Guggenheim initiated coverage on shares of NewAmsterdam Pharma in a report on Thursday, January 18th. They issued a “buy” rating and a $30.00 target price on the stock. Finally, Piper Sandler assumed coverage on shares of NewAmsterdam Pharma in a research note on Tuesday, January 16th. They issued an “overweight” rating and a $37.00 price target on the stock. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $31.00.

View Our Latest Analysis on NewAmsterdam Pharma

NewAmsterdam Pharma Price Performance

The firm’s 50-day moving average is $21.71 and its two-hundred day moving average is $14.42.

Insider Activity at NewAmsterdam Pharma

In related news, Director Louis G. Lange purchased 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were bought at an average price of $19.00 per share, for a total transaction of $95,000.00. Following the acquisition, the director now owns 24,878 shares of the company’s stock, valued at approximately $472,682. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director James N. Topper purchased 8,429 shares of the stock in a transaction that occurred on Tuesday, March 26th. The stock was purchased at an average price of $21.50 per share, for a total transaction of $181,223.50. Following the completion of the acquisition, the director now owns 3,008,429 shares of the company’s stock, valued at $64,681,223.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Louis G. Lange purchased 5,000 shares of the business’s stock in a transaction dated Tuesday, February 13th. The shares were purchased at an average price of $19.00 per share, for a total transaction of $95,000.00. Following the purchase, the director now owns 24,878 shares of the company’s stock, valued at approximately $472,682. The disclosure for this purchase can be found here. 2.50% of the stock is owned by insiders.

Institutional Trading of NewAmsterdam Pharma

Hedge funds have recently added to or reduced their stakes in the business. Fcpm Iii Services B.V. purchased a new position in shares of NewAmsterdam Pharma in the 4th quarter valued at $132,157,000. RA Capital Management L.P. boosted its holdings in shares of NewAmsterdam Pharma by 125.0% in the 2nd quarter. RA Capital Management L.P. now owns 9,000,000 shares of the company’s stock valued at $107,010,000 after buying an additional 5,000,000 shares in the last quarter. Bain Capital Life Sciences Investors LLC grew its position in shares of NewAmsterdam Pharma by 26.2% in the 2nd quarter. Bain Capital Life Sciences Investors LLC now owns 10,473,913 shares of the company’s stock worth $124,535,000 after buying an additional 2,173,913 shares during the last quarter. Goldman Sachs Group Inc. bought a new position in shares of NewAmsterdam Pharma during the 4th quarter worth approximately $15,463,000. Finally, Opaleye Management Inc. purchased a new stake in NewAmsterdam Pharma during the fourth quarter valued at approximately $2,964,000. 89.89% of the stock is owned by hedge funds and other institutional investors.

About NewAmsterdam Pharma

(Get Free Report)

NewAmsterdam Pharma Company N.V., a clinical-stage biopharmaceutical company, develops oral and non-statin medicines for patients at high risk of cardiovascular disease. Its lead product candidate is obicetrapib, a next generation, oral, and low-dose cholesteryl ester transfer protein (CETP) inhibitor, that is in four ongoing Phase 3 and Phase 2b clinical trials as both a monotherapy and a combination therapy with ezetimibe for lowering LDL-C and preventing major adverse cardiovascular events (MACE).

Further Reading

Receive News & Ratings for NewAmsterdam Pharma Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NewAmsterdam Pharma and related companies with MarketBeat.com's FREE daily email newsletter.