NewAmsterdam Pharma (NASDAQ:NAMS) Price Target Raised to $47.00

NewAmsterdam Pharma (NASDAQ:NAMS) had its price objective hoisted by equities researchers at Scotiabank from $35.00 to $47.00 in a report released on Wednesday,Benzinga reports. The firm presently has a “sector outperform” rating on the stock. Scotiabank’s price objective points to a potential upside of 88.45% from the stock’s current price.

A number of other equities research analysts have also recently commented on the company. Piper Sandler reaffirmed an “overweight” rating and set a $37.00 price objective on shares of NewAmsterdam Pharma in a research note on Monday, September 23rd. Needham & Company LLC reaffirmed a “buy” rating and set a $36.00 price objective on shares of NewAmsterdam Pharma in a research note on Thursday, December 5th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $31.00 target price on shares of NewAmsterdam Pharma in a research note on Thursday, September 5th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, NewAmsterdam Pharma currently has an average rating of “Buy” and a consensus price target of $36.20.

NewAmsterdam Pharma Trading Down 4.8 %

Shares of NAMS stock traded down $1.25 on Wednesday, reaching $24.94. 476,521 shares of the stock were exchanged, compared to its average volume of 344,449. NewAmsterdam Pharma has a one year low of $9.61 and a one year high of $27.29. The stock has a 50 day moving average price of $20.08 and a 200 day moving average price of $18.58.

Insider Buying and Selling at NewAmsterdam Pharma

In other news, CAO Louise Frederika Kooij sold 45,000 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $15.72, for a total value of $707,400.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Nap B.V. Forgrowth sold 33,273 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $25.08, for a total value of $834,486.84. Following the completion of the transaction, the insider now owns 11,778,760 shares of the company’s stock, valued at $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. In the last quarter, insiders have sold 86,803 shares of company stock valued at $1,755,307. 19.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Banque Cantonale Vaudoise bought a new position in shares of NewAmsterdam Pharma in the 2nd quarter valued at $38,000. Quarry LP boosted its holdings in NewAmsterdam Pharma by 2,469.2% in the third 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 increased its position 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 purchasing an additional 7,199 shares during the period. Bellevue Group AG bought a new position in NewAmsterdam Pharma during the 3rd quarter worth approximately $128,000. Finally, XTX Topco Ltd acquired a new position in shares of NewAmsterdam Pharma in the 3rd quarter worth approximately $187,000. 89.89% of the stock is currently 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.