NewAmsterdam Pharma's (NAMS) "Outperform" Rating Reaffirmed at Royal Bank of Canada

NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report)'s stock had its "outperform" rating reaffirmed by Royal Bank of Canada in a research report issued on Friday,Benzinga reports. They currently have a $40.00 price objective on the stock. Royal Bank of Canada's target price indicates a potential upside of 69.49% from the stock's current price.

NAMS has been the subject of a number of other reports. Needham & Company LLC reaffirmed a "buy" rating and issued a $36.00 price objective on shares of NewAmsterdam Pharma in a research note on Thursday, December 5th. HC Wainwright reaffirmed a "buy" rating and set a $48.00 target price on shares of NewAmsterdam Pharma in a research report on Tuesday, January 14th. Finally, Scotiabank lifted their price target on NewAmsterdam Pharma from $35.00 to $47.00 and gave the stock a "sector outperform" rating in a research report on Wednesday, December 11th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $41.60.

NewAmsterdam Pharma Stock Up 1.7 %

Shares of NAMS traded up $0.40 during trading hours on Friday, reaching $23.60. 745,275 shares of the company traded hands, compared to its average volume of 499,785. The stock's fifty day moving average price is $23.55 and its 200 day moving average price is $19.94. NewAmsterdam Pharma has a 12-month low of $15.19 and a 12-month high of $27.29.

Insider Buying and Selling at NewAmsterdam Pharma

In related news, major shareholder Nap B.V. Forgrowth sold 33,273 shares of NewAmsterdam Pharma stock in a transaction dated Monday, November 18th. The stock was 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 in the company, valued at $295,411,300.80. The trade was a 0.28 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last quarter, insiders sold 446,730 shares of company stock worth $11,438,695. Insiders own 19.50% of the company's stock.

Institutional Investors Weigh In On NewAmsterdam Pharma

A number of institutional investors have recently added to or reduced their stakes in NAMS. Quarry LP lifted its holdings in NewAmsterdam Pharma by 2,469.2% in the 3rd quarter. Quarry LP now owns 6,500 shares of the company's stock valued at $108,000 after purchasing an additional 6,247 shares in the last quarter. Barclays PLC increased its position 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 worth $126,000 after purchasing 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 valued at about $128,000. HB Wealth Management LLC purchased a new stake in NewAmsterdam Pharma in the fourth quarter valued at approximately $224,000. Finally, XTX Topco Ltd acquired a new position in NewAmsterdam Pharma during the 3rd quarter worth about $187,000. 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.