NewAmsterdam Pharma (NASDAQ:NAMS) Shares Gap Up to $20.05

NewAmsterdam Pharma (NASDAQ:NAMS) gapped up before the market opened on Thursday . The stock had previously closed at $20.05, but opened at $21.14. NewAmsterdam Pharma shares last traded at $20.34, with a volume of 27,516 shares trading hands.

Analysts Set New Price Targets

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

NewAmsterdam Pharma Trading Up 0.6 %

The business’s 50-day moving average is $21.51 and its two-hundred day moving average is $15.20.

Insider Activity

In other NewAmsterdam Pharma news, Director Louis G. Lange bought 5,000 shares of the stock in a transaction dated Tuesday, February 13th. The stock was bought at an average cost of $19.00 per share, for a total transaction 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 acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other NewAmsterdam Pharma news, Director James N. Topper bought 8,429 shares of the stock in a transaction dated Tuesday, March 26th. The stock was bought at an average cost of $21.50 per share, for a total transaction of $181,223.50. Following the completion of the purchase, the director now directly owns 3,008,429 shares of the company’s stock, valued at $64,681,223.50. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Louis G. Lange bought 5,000 shares of the stock in a transaction dated Tuesday, February 13th. The shares were acquired 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 disclosure for this purchase can be found here. Insiders own 2.50% of the company’s stock.

Institutional Trading of NewAmsterdam Pharma

Several large investors have recently modified their holdings of the business. Wolverine Asset Management LLC bought a new position in shares of NewAmsterdam Pharma during the third quarter worth about $27,000. Royal Bank of Canada lifted its position in shares of NewAmsterdam Pharma by 987.5% during the fourth quarter. Royal Bank of Canada now owns 10,875 shares of the company’s stock worth $121,000 after purchasing an additional 9,875 shares during the last quarter. Geode Capital Management LLC bought a new position in shares of NewAmsterdam Pharma during the first quarter worth about $249,000. JPMorgan Chase & Co. lifted its position in shares of NewAmsterdam Pharma by 1,929.7% during the first quarter. JPMorgan Chase & Co. now owns 22,367 shares of the company’s stock worth $301,000 after purchasing an additional 21,265 shares during the last quarter. Finally, Yarbrough Capital LLC bought a new position in shares of NewAmsterdam Pharma during the first quarter worth about $567,000. 89.89% of the stock is currently owned by institutional investors and hedge funds.

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.