NewAmsterdam Pharma (NASDAQ:NAMS) Reaches New 1-Year High – What’s Next?

NewAmsterdam Pharma (NASDAQ:NAMS)’s share price hit a new 52-week high during trading on Wednesday . The company traded as high as $27.53 and last traded at $27.53, with a volume of 257 shares traded. The stock had previously closed at $26.04.

Analysts Set New Price Targets

A number of analysts have issued reports on NAMS shares. Piper Sandler reaffirmed an “overweight” rating and set a $37.00 price target on shares of NewAmsterdam Pharma in a report on Monday, September 23rd. Scotiabank upped 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, December 11th. HC Wainwright assumed coverage on shares of NewAmsterdam Pharma in a report on Monday, December 30th. They set a “buy” rating and a $48.00 price objective on the stock. Finally, Needham & Company LLC restated a “buy” rating and set a $36.00 price objective on shares of NewAmsterdam Pharma in a research report on Thursday, December 5th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $38.17.

NewAmsterdam Pharma Stock Performance

The company has a 50-day moving average of $22.94 and a 200-day moving average of $19.56.

Insider Buying and Selling at NewAmsterdam Pharma

In related news, major shareholder Nap B.V. Forgrowth sold 8,530 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $25.02, for a total transaction of $213,420.60. Following the completion of the sale, the insider now owns 11,812,033 shares of the company’s stock, valued at approximately $295,537,065.66. This represents a 0.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, insiders sold 446,730 shares of company stock worth $11,438,695. Insiders own 19.50% of the company’s stock.

Hedge Funds Weigh In On NewAmsterdam Pharma

Hedge funds and other institutional investors have recently bought and sold shares of the stock. FMR LLC lifted its stake in shares of NewAmsterdam Pharma by 35.6% in the third quarter. FMR LLC now owns 330,412 shares of the company’s stock worth $5,485,000 after acquiring an additional 86,712 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of NewAmsterdam Pharma by 1,231.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 239,283 shares of the company’s stock valued at $3,972,000 after buying an additional 221,305 shares during the last quarter. abrdn plc grew its position in shares of NewAmsterdam Pharma by 69.8% during the third quarter. abrdn plc now owns 129,060 shares of the company’s stock worth $2,142,000 after buying an additional 53,060 shares in the last quarter. State Street Corp increased its position in shares of NewAmsterdam Pharma by 168.7% in the 3rd quarter. State Street Corp now owns 37,915 shares of the company’s stock worth $629,000 after purchasing an additional 23,805 shares during the last quarter. Finally, Millennium Management LLC increased its holdings in 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 last quarter. 89.89% of the stock is owned by institutional investors and hedge funds.

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.