NewAmsterdam Pharma (NASDAQ:NAMS) Sets New 52-Week High on Analyst Upgrade

NewAmsterdam Pharma (NASDAQ:NAMS)’s stock price hit a new 52-week high during mid-day trading on Wednesday after Scotiabank raised their price target on the stock from $35.00 to $47.00. Scotiabank currently has a sector outperform rating on the stock. NewAmsterdam Pharma traded as high as $27.29 and last traded at $26.15, with a volume of 208418 shares. The stock had previously closed at $26.19.

NAMS has been the topic of several other research reports. Piper Sandler reiterated an “overweight” rating and issued a $37.00 price objective on shares of NewAmsterdam Pharma in a report on Monday, September 23rd. Needham & Company LLC reiterated a “buy” rating and set a $36.00 target price on shares of NewAmsterdam Pharma in a research note on Thursday, December 5th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $31.00 target price on shares of NewAmsterdam Pharma in a research note on Thursday, September 5th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $36.20.

Insider Activity

In related news, major shareholder Nap B.V. Forgrowth sold 33,273 shares of NewAmsterdam Pharma stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $25.08, for a total value of $834,486.84. Following the sale, the insider now directly owns 11,778,760 shares in the company, valued at $295,411,300.80. The trade was a 0.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Louise Frederika Kooij sold 45,000 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $15.72, for a total transaction of $707,400.00. The disclosure for this sale can be found here. Insiders have sold 86,803 shares of company stock valued at $1,755,307 in the last ninety days. 19.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Banque Cantonale Vaudoise purchased a new stake in shares of NewAmsterdam Pharma in the second quarter valued at $38,000. Quarry LP raised its position in shares of 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 buying an additional 6,247 shares during the last quarter. Barclays PLC boosted its position in NewAmsterdam Pharma by 1,813.4% during the third quarter. Barclays PLC now owns 7,596 shares of the company’s stock worth $126,000 after acquiring an additional 7,199 shares during the last quarter. Bellevue Group AG acquired a new stake in shares of NewAmsterdam Pharma during the third quarter worth $128,000. Finally, XTX Topco Ltd purchased a new stake in shares of NewAmsterdam Pharma in the third quarter valued at $187,000. 89.89% of the stock is currently owned by institutional investors and hedge funds.

NewAmsterdam Pharma Price Performance

The company has a 50 day moving average of $20.08 and a 200 day moving average of $18.58.

NewAmsterdam Pharma Company Profile

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.