NewAmsterdam Pharma (NASDAQ:NAMS) Sees Unusually-High Trading Volume – Should You Buy?

NewAmsterdam Pharma (NASDAQ:NAMS) shares saw strong trading volume on Monday . 501,403 shares traded hands during trading, an increase of 85% from the previous session’s volume of 271,041 shares.The stock last traded at $25.23 and had previously closed at $24.90.

Analyst Ratings Changes

NAMS has been the subject of several research reports. Needham & Company LLC reissued a “buy” rating and set a $36.00 price objective on shares of NewAmsterdam Pharma in a research report on Thursday, November 7th. Royal Bank of Canada reiterated an “outperform” rating and set a $31.00 target price on shares of NewAmsterdam Pharma in a report on Thursday, September 5th. Finally, Piper Sandler restated an “overweight” rating and issued a $37.00 price target on shares of NewAmsterdam Pharma in a report on Monday, September 23rd. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $33.80.

NewAmsterdam Pharma Trading Down 15.5 %

The stock’s 50-day moving average is $18.82 and its 200-day moving average is $18.61.

Insider Buying and Selling

In related news, major shareholder Nap B.V. Forgrowth sold 8,530 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $25.02, for a total value of $213,420.60. Following the completion of the sale, the insider now directly owns 11,812,033 shares in the company, valued at $295,537,065.66. This represents a 0.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Louise Frederika Kooij sold 45,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was 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. Insiders have sold 86,803 shares of company stock worth $1,755,307 in the last 90 days. Insiders own 19.50% of the company’s stock.

Institutional Investors Weigh In On NewAmsterdam Pharma

Hedge funds and other institutional investors have recently made changes to their positions in the business. Affinity Asset Advisors LLC boosted its stake in NewAmsterdam Pharma by 129.0% during the 1st quarter. Affinity Asset Advisors LLC now owns 286,200 shares of the company’s stock valued at $6,769,000 after purchasing an additional 161,200 shares during the last quarter. Baker BROS. Advisors LP bought a new stake in NewAmsterdam Pharma during the first quarter worth $2,290,000. Janus Henderson Group PLC purchased a new stake in NewAmsterdam Pharma in the 1st quarter valued at $15,018,000. Artal Group S.A. bought a new position in NewAmsterdam Pharma during the 1st quarter valued at $18,920,000. Finally, Opaleye Management Inc. boosted its holdings in NewAmsterdam Pharma by 18.8% during the 1st quarter. Opaleye Management Inc. now owns 315,388 shares of the company’s stock worth $7,459,000 after acquiring an additional 50,000 shares during the last quarter. 89.89% of the stock is owned by 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.