NewAmsterdam Pharma (NASDAQ:NAMS) Trading 6.7% Higher

NewAmsterdam Pharma (NASDAQ:NAMS) shares were up 6.7% during mid-day trading on Tuesday . The stock traded as high as $21.78 and last traded at $21.58. Approximately 22,961 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 240,353 shares. The stock had previously closed at $20.23.

Analyst Ratings Changes

Several research analysts have commented on NAMS shares. Royal Bank of Canada raised their target price on shares of NewAmsterdam Pharma from $25.00 to $31.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. Scotiabank started coverage on shares of NewAmsterdam Pharma in a research note on Thursday, March 14th. They issued a “sector outperform” rating and a $35.00 target price on the stock. Piper Sandler started coverage on NewAmsterdam Pharma in a report on Tuesday, January 16th. They issued an “overweight” rating and a $37.00 price target for the company. Finally, Guggenheim assumed coverage on NewAmsterdam Pharma in a research note on Thursday, January 18th. They issued a “buy” rating and a $30.00 price target for the company. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $33.25.

NewAmsterdam Pharma Stock Performance

The firm’s 50 day simple moving average is $21.48 and its 200 day simple moving average is $15.50.

Insider Activity at NewAmsterdam Pharma

In related news, Director Louis G. Lange purchased 5,000 shares of NewAmsterdam Pharma stock in a transaction dated Tuesday, February 13th. The shares were acquired at an average cost of $19.00 per share, with a total value of $95,000.00. Following the purchase, the director now owns 24,878 shares of the company’s stock, valued at $472,682. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director James N. Topper bought 8,429 shares of the stock in a transaction that occurred on Tuesday, March 26th. The stock was purchased at an average cost 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 in the company, valued at $64,681,223.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Louis G. Lange bought 5,000 shares of NewAmsterdam Pharma stock in a transaction dated Tuesday, February 13th. The shares were purchased at an average cost of $19.00 per share, for a total transaction of $95,000.00. Following the completion of the transaction, 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 company insiders.

Institutional Investors Weigh In On NewAmsterdam Pharma

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Yarbrough Capital LLC purchased a new stake in NewAmsterdam Pharma in the 1st quarter worth approximately $567,000. Fcpm Iii Services B.V. acquired a new stake in NewAmsterdam Pharma in the 4th quarter worth $132,157,000. Opaleye Management Inc. bought a new position in shares of NewAmsterdam Pharma during the 4th quarter worth about $2,964,000. Parkman Healthcare Partners LLC lifted its holdings in NewAmsterdam Pharma by 20.8% during the 4th quarter. Parkman Healthcare Partners LLC now owns 300,750 shares of the company’s stock valued at $3,359,000 after purchasing an additional 51,726 shares during the last quarter. Finally, Wolverine Asset Management LLC lifted its holdings in NewAmsterdam Pharma by 197.2% during the 4th quarter. Wolverine Asset Management LLC now owns 8,694 shares of the company’s stock valued at $97,000 after purchasing an additional 5,769 shares during the last quarter. 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.