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

NewAmsterdam Pharma (NASDAQ:NAMS)’s share price gapped down before the market opened 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 topic of a number of research reports. Piper Sandler began coverage on shares of NewAmsterdam Pharma in a research report on Tuesday, January 16th. They set an “overweight” rating and a $37.00 target price on the stock. Royal Bank of Canada increased their price target on NewAmsterdam Pharma from $25.00 to $31.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. Guggenheim assumed coverage on NewAmsterdam Pharma in a report on Thursday, January 18th. They set a “buy” rating and a $30.00 price objective for the company. Finally, Scotiabank started coverage on NewAmsterdam Pharma in a report on Thursday, March 14th. They issued a “sector outperform” rating and a $35.00 target price on the stock. Five analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $33.25.

NewAmsterdam Pharma Stock Performance

The business has a fifty day simple moving average of $21.67 and a 200 day simple moving average of $16.18.

Insider Activity

In related news, insider Johannes Jacob Piete Kastelein sold 190,476 shares of the stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $21.50, for a total value of $4,095,234.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director James N. Topper bought 8,429 shares of the company’s stock in a transaction on Tuesday, March 26th. The shares were purchased at an average price of $21.50 per share, with a total value of $181,223.50. Following the transaction, the director now directly owns 3,008,429 shares in the company, valued at $64,681,223.50. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Johannes Jacob Piete Kastelein sold 190,476 shares of the business’s stock in a transaction that occurred on Tuesday, March 26th. The stock was 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. Corporate insiders own 2.50% of the company’s stock.

Institutional Trading of NewAmsterdam Pharma

A number of institutional investors and hedge funds have recently modified their holdings of the business. Wolverine Asset Management LLC bought a new stake in shares of NewAmsterdam Pharma during the 3rd quarter worth $27,000. Schonfeld Strategic Advisors LLC grew its position in shares of NewAmsterdam Pharma by 12.9% during 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. Yarbrough Capital LLC purchased a new stake in shares of NewAmsterdam Pharma during the 1st quarter worth approximately $567,000. Affinity Asset Advisors LLC raised 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 worth $1,156,000 after purchasing an additional 25,000 shares during the period. Finally, Parkman Healthcare Partners LLC lifted its stake in NewAmsterdam Pharma by 20.8% in the fourth 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. 89.89% of the stock is owned by hedge funds and other institutional investors.

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.