NewAmsterdam Pharma (NASDAQ:NAMS) Shares Gap Down to $22.57

NewAmsterdam Pharma (NASDAQ:NAMS) gapped down prior to trading on Friday . The stock had previously closed at $22.57, but opened at $21.70. NewAmsterdam Pharma shares last traded at $22.13, with a volume of 48,168 shares traded.

Wall Street Analysts Forecast Growth

NAMS has been the subject of a number of recent analyst reports. Guggenheim initiated coverage on NewAmsterdam Pharma in a research report on Thursday, January 18th. They issued a “buy” rating and a $30.00 target price for the company. Piper Sandler began coverage on shares of NewAmsterdam Pharma in a report on Tuesday, January 16th. They set an “overweight” rating and a $37.00 price objective for the company. 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. Finally, Scotiabank assumed 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. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, NewAmsterdam Pharma currently has a consensus rating of “Buy” and an average price target of $33.25.

NewAmsterdam Pharma Stock Performance

The stock has a 50 day simple moving average of $21.67 and a 200-day simple moving average of $16.18.

Insider Buying and Selling

In other NewAmsterdam Pharma news, insider Johannes Jacob Piete Kastelein sold 190,476 shares of the company’s stock in a transaction that occurred on 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Louis G. Lange acquired 5,000 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The shares were purchased at an average price of $19.00 per share, with a total value of $95,000.00. Following the completion of the purchase, the director now directly owns 24,878 shares of the company’s stock, valued at $472,682. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Johannes Jacob Piete Kastelein sold 190,476 shares of NewAmsterdam Pharma stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $21.50, for a total value of $4,095,234.00. The disclosure for this sale can be found here. 2.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On NewAmsterdam Pharma

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NAMS. Fcpm Iii Services B.V. bought a new position in shares of NewAmsterdam Pharma in the fourth quarter worth approximately $132,157,000. Jennison Associates LLC bought a new position in NewAmsterdam Pharma in the 1st quarter worth $22,015,000. Parkman Healthcare Partners LLC increased its stake in NewAmsterdam Pharma by 20.8% in the 4th quarter. Parkman Healthcare Partners LLC now owns 300,750 shares of the company’s stock worth $3,359,000 after buying an additional 51,726 shares in the last quarter. Opaleye Management Inc. purchased a new stake in NewAmsterdam Pharma in the 4th quarter worth $2,964,000. Finally, Affinity Asset Advisors LLC lifted its position in shares of NewAmsterdam Pharma by 25.0% in the third quarter. Affinity Asset Advisors LLC now owns 125,000 shares of the company’s stock valued at $1,156,000 after acquiring an additional 25,000 shares in the last quarter. Institutional investors 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.