NewAmsterdam Pharma (NASDAQ:NAMS) Sees Large Volume Increase – Should You Buy?

NewAmsterdam Pharma (NASDAQ:NAMS) shares saw strong trading volume on Friday . 1,073,678 shares traded 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.

Analysts Set New Price Targets

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

NewAmsterdam Pharma Stock Performance

The stock has a 50 day moving average of $20.53 and a 200 day moving average of $18.71.

Insider Transactions at NewAmsterdam Pharma

In other NewAmsterdam Pharma news, major shareholder Nap B.V. Forgrowth sold 33,273 shares of NewAmsterdam Pharma stock in a transaction on Monday, November 18th. The stock was sold at an average price of $25.08, for a total transaction of $834,486.84. Following the sale, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 86,803 shares of company stock worth $1,755,307. Insiders own 19.50% of the company’s stock.

Hedge Funds Weigh In On NewAmsterdam Pharma

Several large investors have recently bought and sold shares of NAMS. Frazier Life Sciences Management L.P. boosted 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 acquiring an additional 628,251 shares in the last quarter. Janus Henderson Group PLC raised its stake in shares of NewAmsterdam Pharma by 51.1% in the 3rd quarter. Janus Henderson Group PLC now owns 1,540,729 shares of the company’s stock worth $25,607,000 after buying an additional 520,772 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of NewAmsterdam Pharma by 23.0% in the second quarter. Millennium Management LLC now owns 1,165,429 shares of the company’s stock valued at $22,388,000 after buying an additional 217,902 shares during the period. Jennison Associates LLC boosted its stake in NewAmsterdam Pharma by 8.9% during the third quarter. Jennison Associates LLC now owns 1,020,278 shares of the company’s stock valued at $16,937,000 after buying an additional 83,115 shares in the last quarter. Finally, Deerfield Management Company L.P. Series C grew its holdings in NewAmsterdam Pharma by 30.3% during the second quarter. Deerfield Management Company L.P. Series C now owns 869,250 shares of the company’s stock worth $16,698,000 after acquiring an additional 202,250 shares during the period. 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.