NewAmsterdam Pharma (NASDAQ:NAMS) Shares Gap Up – What’s Next?

NewAmsterdam Pharma (NASDAQ:NAMS)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $21.05, but opened at $21.80. NewAmsterdam Pharma shares last traded at $21.80, with a volume of 1,000 shares changing hands.

Analyst Ratings Changes

A number of equities analysts have weighed in on NAMS shares. Royal Bank of Canada reissued an “outperform” rating and set a $31.00 price objective on shares of NewAmsterdam Pharma in a research note on Thursday, September 5th. Needham & Company LLC reissued a “buy” rating and set a $36.00 price target on shares of NewAmsterdam Pharma in a research report on Thursday, November 21st. Finally, Piper Sandler restated an “overweight” rating and set a $37.00 price objective on shares of NewAmsterdam Pharma in a research report on Monday, September 23rd. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, NewAmsterdam Pharma currently has an average rating of “Buy” and a consensus price target of $33.80.

NewAmsterdam Pharma Stock Down 0.1 %

The stock has a 50-day simple moving average of $19.17 and a 200 day simple moving average of $18.57.

Insider Buying and Selling

In related news, major shareholder Nap B.V. Forgrowth sold 8,530 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $25.02, for a total transaction of $213,420.60. Following the completion of the transaction, the insider now owns 11,812,033 shares of the company’s stock, valued at approximately $295,537,065.66. This trade represents a 0.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Louise Frederika Kooij sold 45,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $15.72, for a total value of $707,400.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 86,803 shares of company stock valued at $1,755,307. 19.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On NewAmsterdam Pharma

Hedge funds have recently bought and sold shares of the company. Artal Group S.A. acquired a new position in NewAmsterdam Pharma in the 1st quarter valued at about $18,920,000. Janus Henderson Group PLC acquired a new position in shares of NewAmsterdam Pharma in the first quarter valued at approximately $15,018,000. Frazier Life Sciences Management L.P. grew its holdings in shares of NewAmsterdam Pharma by 5.1% in the third quarter. Frazier Life Sciences Management L.P. now owns 12,855,194 shares of the company’s stock valued at $213,396,000 after purchasing an additional 628,251 shares in the last quarter. Decheng Capital LLC purchased a new stake in NewAmsterdam Pharma during the 2nd quarter worth approximately $7,684,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in NewAmsterdam Pharma by 1,231.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 239,283 shares of the company’s stock worth $3,972,000 after buying an additional 221,305 shares in the last quarter. 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.