NewAmsterdam Pharma (NASDAQ:NAMS) Sees Unusually-High Trading Volume

Shares of NewAmsterdam Pharma (NASDAQ:NAMS) saw an uptick in trading volume on Monday . 249,175 shares changed hands during trading, a decline of 2% from the previous session’s volume of 253,713 shares.The stock last traded at $16.66 and had previously closed at $16.23.

Analysts Set New Price Targets

Several research firms recently issued reports on NAMS. Piper Sandler reaffirmed an “overweight” rating and set a $37.00 price objective on shares of NewAmsterdam Pharma in a report on Monday, September 23rd. Royal Bank of Canada reissued an “outperform” rating and issued a $31.00 price target on shares of NewAmsterdam Pharma in a report on Thursday, September 5th. Finally, Needham & Company LLC initiated coverage on shares of NewAmsterdam Pharma in a report on Wednesday, August 28th. They issued a “buy” rating and a $36.00 price target for the company. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $33.80.

NewAmsterdam Pharma Stock Up 4.2 %

The business’s 50 day moving average price is $16.50 and its 200-day moving average price is $18.92.

NewAmsterdam Pharma (NASDAQ:NAMS) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.51) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.59) by $0.08. The business had revenue of $2.28 million during the quarter, compared to analyst estimates of $2.20 million. Sell-side analysts forecast that NewAmsterdam Pharma will post -2.06 earnings per share for the current year.

Insider Buying and Selling

In related news, CAO Louise Frederika Kooij sold 45,000 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $15.72, for a total transaction of $707,400.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 19.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On NewAmsterdam Pharma

Hedge funds have recently made changes to their positions in the company. Banque Cantonale Vaudoise acquired a new position in shares of NewAmsterdam Pharma during the second quarter worth approximately $38,000. Sei Investments Co. boosted its position in NewAmsterdam Pharma by 49.1% in the 2nd quarter. Sei Investments Co. now owns 24,561 shares of the company’s stock valued at $472,000 after buying an additional 8,087 shares during the last quarter. Wolverine Asset Management LLC increased its stake in shares of NewAmsterdam Pharma by 117.7% in the 2nd quarter. Wolverine Asset Management LLC now owns 15,524 shares of the company’s stock valued at $298,000 after buying an additional 8,394 shares during the period. Rosalind Advisors Inc. acquired a new position in shares of NewAmsterdam Pharma during the second quarter valued at $194,000. Finally, Yarbrough Capital LLC bought a new position in NewAmsterdam Pharma in the first quarter valued at approximately $567,000. Institutional investors and hedge funds 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.