Investment analysts at HC Wainwright started coverage on shares of NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report) in a report released on Monday, Marketbeat Ratings reports. The firm set a "buy" rating and a $48.00 price target on the stock. HC Wainwright's price target indicates a potential upside of 87.50% from the company's current price.
A number of other equities research analysts also recently weighed in on the stock. Scotiabank lifted their price target on shares of NewAmsterdam Pharma from $35.00 to $47.00 and gave the stock a "sector outperform" rating in a research note on Wednesday, December 11th. Needham & Company LLC reiterated a "buy" rating and set a $36.00 target price on shares of NewAmsterdam Pharma in a research report on Thursday, December 5th. Piper Sandler reissued an "overweight" rating and issued a $37.00 target price on shares of NewAmsterdam Pharma in a research note on Monday, September 23rd. Finally, Royal Bank of Canada restated an "outperform" rating and set a $31.00 price target on shares of NewAmsterdam Pharma in a research note on Thursday, September 5th. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $38.17.
Check Out Our Latest Report on NewAmsterdam Pharma
NewAmsterdam Pharma Price Performance
Shares of NASDAQ:NAMS traded down $0.26 during trading on Monday, hitting $25.60. 339,913 shares of the stock were exchanged, compared to its average volume of 377,810. NewAmsterdam Pharma has a 1-year low of $11.18 and a 1-year high of $27.29. The company's fifty day simple moving average is $21.99 and its 200-day simple moving average is $19.17.
Insider Transactions at NewAmsterdam Pharma
In related news, major shareholder Nap B.V. Forgrowth sold 166,011 shares of the company's stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $25.39, for a total transaction of $4,215,019.29. Following the transaction, the insider now owns 11,150,461 shares in the company, valued at $283,110,204.79. This represents a 1.47 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Louise Frederika Kooij sold 45,000 shares of the stock in a transaction dated Tuesday, October 1st. The stock was 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. Over the last 90 days, insiders sold 428,446 shares of company stock valued at $10,514,105. Corporate insiders own 19.50% of the company's stock.
Institutional Trading of NewAmsterdam Pharma
Hedge funds have recently modified their holdings of the stock. Banque Cantonale Vaudoise acquired a new position in NewAmsterdam Pharma during the 2nd quarter worth $38,000. Quarry LP lifted its stake in shares of NewAmsterdam Pharma by 2,469.2% during the third quarter. Quarry LP now owns 6,500 shares of the company's stock valued at $108,000 after acquiring an additional 6,247 shares during the period. Barclays PLC lifted its stake in shares of NewAmsterdam Pharma by 1,813.4% during the third quarter. Barclays PLC now owns 7,596 shares of the company's stock valued at $126,000 after acquiring an additional 7,199 shares during the period. Bellevue Group AG bought a new position in NewAmsterdam Pharma in the third quarter valued at about $128,000. Finally, XTX Topco Ltd acquired a new stake in NewAmsterdam Pharma in the third quarter worth about $187,000. 89.89% of the stock is owned by institutional investors.
About NewAmsterdam Pharma
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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.
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