NewAmsterdam Pharma (NASDAQ:NAMS) Earns "Buy" Rating from HC Wainwright

NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report)'s stock had its "buy" rating reissued by analysts at HC Wainwright in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $48.00 price target on the stock. HC Wainwright's target price indicates a potential upside of 102.79% from the company's previous close.

Several other equities analysts have also recently issued reports on NAMS. Piper Sandler restated an "overweight" rating and set a $37.00 target price 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 target on shares of NewAmsterdam Pharma in a research report on Thursday, December 5th. Finally, Scotiabank boosted their target price on shares of NewAmsterdam Pharma from $35.00 to $47.00 and gave the company a "sector outperform" rating in a research report on Wednesday, December 11th. Seven research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $38.17.

NewAmsterdam Pharma Stock Down 3.7 %

Shares of NewAmsterdam Pharma stock traded down $0.91 on Tuesday, reaching $23.67. The company's stock had a trading volume of 511,840 shares, compared to its average volume of 571,205. NewAmsterdam Pharma has a 52 week low of $15.19 and a 52 week high of $27.29. The firm's fifty day simple moving average is $23.63 and its two-hundred day simple moving average is $19.74.

Insider Buying and Selling

In other NewAmsterdam Pharma news, major shareholder Nap B.V. Forgrowth sold 29,846 shares of the firm's stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $25.54, for a total transaction of $762,266.84. Following the sale, the insider now directly owns 10,656,172 shares of the company's stock, valued at $272,158,632.88. This trade represents a 0.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders sold 446,730 shares of company stock valued at $11,438,695. 19.50% of the stock is owned by corporate insiders.

Institutional Trading of NewAmsterdam Pharma

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quarry LP lifted its holdings 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 worth $108,000 after buying an additional 6,247 shares in the last quarter. Barclays PLC boosted its holdings in shares of 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 last quarter. Bellevue Group AG purchased a new position in shares of NewAmsterdam Pharma during the third quarter valued at about $128,000. XTX Topco Ltd purchased a new stake in shares of NewAmsterdam Pharma in the third quarter worth about $187,000. Finally, JPMorgan Chase & Co. grew its holdings in NewAmsterdam Pharma by 176.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 22,351 shares of the company's stock valued at $371,000 after buying an additional 14,280 shares in the last quarter. Institutional investors own 89.89% of the company's stock.

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.