NewAmsterdam Pharma (NASDAQ:NAMS) Sees Large Volume Increase – Here’s What Happened

NewAmsterdam Pharma (NASDAQ:NAMS) saw an uptick in trading volume on Friday . 1,073,678 shares changed hands during mid-day trading, an increase of 196% from the previous session’s volume of 363,004 shares.The stock last traded at $24.53 and had previously closed at $25.09.

Wall Street Analyst Weigh In

Several equities analysts recently commented on NAMS shares. Piper Sandler reaffirmed an “overweight” rating and set a $37.00 price target on shares of NewAmsterdam Pharma in a research report on Monday, September 23rd. Royal Bank of Canada restated an “outperform” rating and set a $31.00 price objective on shares of NewAmsterdam Pharma in a report on Thursday, September 5th. Needham & Company LLC reiterated a “buy” rating and issued a $36.00 target price on shares of NewAmsterdam Pharma in a report on Thursday, December 5th. Finally, Scotiabank boosted their price target on NewAmsterdam Pharma from $35.00 to $47.00 and gave the company a “sector outperform” rating in a research report on Wednesday. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $36.20.

NewAmsterdam Pharma Trading Down 2.2 %

The business’s 50-day moving average is $20.40 and its two-hundred day moving average is $18.68.

Insiders Place Their Bets

In other news, CAO Louise Frederika Kooij sold 45,000 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $15.72, for a total transaction of $707,400.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Nap B.V. Forgrowth sold 33,273 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $25.08, for a total transaction of $834,486.84. Following the sale, the insider now directly owns 11,778,760 shares of the company’s stock, valued at approximately $295,411,300.80. The trade was a 0.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 86,803 shares of company stock worth $1,755,307 over the last quarter. 19.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On NewAmsterdam Pharma

A number of hedge funds have recently bought and sold shares of NAMS. Banque Cantonale Vaudoise purchased a new position in shares of NewAmsterdam Pharma during the 2nd quarter valued at approximately $38,000. Quarry LP boosted its stake in NewAmsterdam Pharma by 2,469.2% during the 3rd quarter. Quarry LP now owns 6,500 shares of the company’s stock valued at $108,000 after acquiring an additional 6,247 shares during the last quarter. Barclays PLC boosted its stake in NewAmsterdam Pharma by 1,813.4% during the 3rd quarter. Barclays PLC now owns 7,596 shares of the company’s stock valued at $126,000 after acquiring an additional 7,199 shares during the last quarter. Bellevue Group AG acquired a new position in NewAmsterdam Pharma during the 3rd quarter worth $128,000. Finally, XTX Topco Ltd bought a new stake in shares of NewAmsterdam Pharma in the 3rd quarter worth about $187,000. 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.