NewAmsterdam Pharma (NASDAQ:NAMS) Given Average Recommendation of “Buy” by Brokerages

Shares of NewAmsterdam Pharma (NASDAQ:NAMS) have earned an average rating of “Buy” from the seven research firms that are covering the firm, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a buy recommendation. The average twelve-month price target among analysts that have covered the stock in the last year is $38.17.

NAMS has been the topic of a number of research reports. HC Wainwright initiated coverage on shares of NewAmsterdam Pharma in a research report on Monday. They issued a “buy” rating and a $48.00 price objective on the stock. Needham & Company LLC restated a “buy” rating and set a $36.00 price objective on shares of NewAmsterdam Pharma in a research note on Thursday, December 5th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $31.00 target price on shares of NewAmsterdam Pharma in a research report on Thursday, September 5th. Scotiabank increased their price target 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, Piper Sandler reaffirmed an “overweight” rating and set a $37.00 price target on shares of NewAmsterdam Pharma in a research report on Monday, September 23rd.

NewAmsterdam Pharma Stock Performance

NASDAQ NAMS opened at $25.70 on Thursday. NewAmsterdam Pharma has a 52 week low of $11.18 and a 52 week high of $27.29. The stock’s 50 day moving average price is $22.26 and its two-hundred day moving average price is $19.26.

Insider Buying and Selling at NewAmsterdam Pharma

In related news, major shareholder Nap B.V. Forgrowth sold 166,011 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $25.39, for a total transaction of $4,215,019.29. Following the transaction, the insider now directly owns 11,150,461 shares of the company’s stock, valued at approximately $283,110,204.79. The trade was a 1.47 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 416,884 shares of company stock worth $10,676,428 over the last 90 days. Company insiders own 19.50% of the company’s stock.

Hedge Funds Weigh In On NewAmsterdam Pharma

Institutional investors and hedge funds have recently modified their holdings of the stock. Banque Cantonale Vaudoise acquired a new stake in shares of NewAmsterdam Pharma during the 2nd quarter worth about $38,000. Quarry LP raised its holdings in NewAmsterdam Pharma by 2,469.2% in the 3rd quarter. Quarry LP now owns 6,500 shares of the company’s stock valued at $108,000 after acquiring an additional 6,247 shares during the period. Barclays PLC lifted its position in NewAmsterdam Pharma by 1,813.4% during the third 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 last quarter. Bellevue Group AG acquired a new position in shares of NewAmsterdam Pharma in the third quarter valued at approximately $128,000. Finally, XTX Topco Ltd acquired a new position in shares of NewAmsterdam Pharma in the third quarter valued at approximately $187,000. 89.89% of the stock is currently owned by institutional investors and hedge funds.

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.