NewAmsterdam Pharma (NASDAQ:NAMS) Shares Gap Up to $20.05

NewAmsterdam Pharma (NASDAQ:NAMS)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $20.05, but opened at $21.14. NewAmsterdam Pharma shares last traded at $20.34, with a volume of 27,516 shares trading hands.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on NAMS shares. Scotiabank initiated coverage on shares of NewAmsterdam Pharma in a research note on Thursday, March 14th. They issued a “sector outperform” rating and a $35.00 price objective for the company. Royal Bank of Canada boosted their target price on shares of NewAmsterdam Pharma from $25.00 to $31.00 and gave the stock an “outperform” rating in a research report on Thursday, February 29th. Piper Sandler initiated coverage on NewAmsterdam Pharma in a research report on Tuesday, January 16th. They issued an “overweight” rating and a $37.00 price target on the stock. Finally, Guggenheim initiated coverage on NewAmsterdam Pharma in a research note on Thursday, January 18th. They issued a “buy” rating and a $30.00 price objective on the stock. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $33.25.

NewAmsterdam Pharma Stock Performance

The company’s 50 day moving average is $21.51 and its 200 day moving average is $15.20.

Insider Transactions at NewAmsterdam Pharma

In other news, insider Johannes Jacob Piete Kastelein sold 190,476 shares of the company’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $21.50, for a total transaction of $4,095,234.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Johannes Jacob Piete Kastelein sold 190,476 shares of the company’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $21.50, for a total transaction of $4,095,234.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director James N. Topper acquired 8,429 shares of the business’s stock in a transaction dated Tuesday, March 26th. The shares were bought at an average cost of $21.50 per share, with a total value of $181,223.50. Following the transaction, the director now directly owns 3,008,429 shares of the company’s stock, valued at approximately $64,681,223.50. The disclosure for this purchase can be found here. Insiders own 2.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in NAMS. Wolverine Asset Management LLC acquired a new position in NewAmsterdam Pharma in the third quarter worth about $27,000. Royal Bank of Canada raised its position in NewAmsterdam Pharma by 987.5% in the fourth quarter. Royal Bank of Canada now owns 10,875 shares of the company’s stock worth $121,000 after purchasing an additional 9,875 shares in the last quarter. Geode Capital Management LLC acquired a new position in NewAmsterdam Pharma in the first quarter worth about $249,000. JPMorgan Chase & Co. raised its position in NewAmsterdam Pharma by 1,929.7% in the first quarter. JPMorgan Chase & Co. now owns 22,367 shares of the company’s stock worth $301,000 after purchasing an additional 21,265 shares in the last quarter. Finally, Marshall Wace LLP acquired a new position in NewAmsterdam Pharma in the second quarter worth about $302,000. Institutional investors and hedge funds 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.