NewAmsterdam Pharma (NASDAQ:NAMS) Stock Price Up 6.7%

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

Analyst Upgrades and Downgrades

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

NewAmsterdam Pharma Trading Up 7.5 %

The stock has a fifty day simple moving average of $21.48 and a two-hundred day simple moving average of $15.50.

Insider Activity

In other news, Director Louis G. Lange acquired 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were bought at an average cost of $19.00 per share, with a total value of $95,000.00. Following the acquisition, the director now owns 24,878 shares in the company, valued at approximately $472,682. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director James N. Topper bought 8,429 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The shares were bought at an average cost of $21.50 per share, for a total transaction of $181,223.50. Following the completion of the transaction, the director now owns 3,008,429 shares of the company’s stock, valued at $64,681,223.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Louis G. Lange acquired 5,000 shares of the firm’s stock in a transaction on Tuesday, February 13th. The shares were bought at an average price 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 $472,682. The disclosure for this purchase can be found here. Insiders own 2.50% of the company’s stock.

Hedge Funds Weigh In On NewAmsterdam Pharma

A number of large investors have recently made changes to their positions in NAMS. Wolverine Asset Management LLC acquired a new stake in shares of NewAmsterdam Pharma during the third quarter valued at about $27,000. Yarbrough Capital LLC purchased a new stake in shares of NewAmsterdam Pharma during the 1st quarter worth approximately $567,000. Schonfeld Strategic Advisors LLC increased its holdings in shares of NewAmsterdam Pharma by 12.9% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 64,700 shares of the company’s stock valued at $598,000 after acquiring an additional 7,400 shares during the period. Affinity Asset Advisors LLC increased its holdings in shares of NewAmsterdam Pharma by 25.0% in the 3rd 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 during the period. Finally, Opaleye Management Inc. acquired a new position in NewAmsterdam Pharma in the 4th quarter valued at $2,964,000. 89.89% of the stock is owned by institutional investors and hedge funds.

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.