NewAmsterdam Pharma (NASDAQ:NAMS) Hits New 12-Month High - Time to Buy?

NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $27.53 and last traded at $27.53, with a volume of 257 shares changing hands. The stock had previously closed at $26.04.

Analysts Set New Price Targets

A number of research firms have recently commented on NAMS. Needham & Company LLC reissued a "buy" rating and set a $36.00 target price on shares of NewAmsterdam Pharma in a research note on Thursday, December 5th. HC Wainwright initiated coverage on NewAmsterdam Pharma in a research note on Monday, December 30th. They set a "buy" rating and a $48.00 price objective for the company. Piper Sandler restated an "overweight" rating and issued a $37.00 target price on shares of NewAmsterdam Pharma in a research report on Monday, September 23rd. Finally, Scotiabank boosted 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. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $38.17.

NewAmsterdam Pharma Stock Down 1.9 %

The stock's 50 day simple moving average is $23.10 and its two-hundred day simple moving average is $19.60.

Insider Buying and Selling

In other news, major shareholder Nap B.V. Forgrowth sold 33,273 shares of the firm's stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $25.08, for a total transaction of $834,486.84. Following the completion of the sale, the insider now owns 11,778,760 shares in the company, valued at $295,411,300.80. This trade represents a 0.28 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last 90 days, insiders have sold 446,730 shares of company stock worth $11,438,695. 19.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Quarry LP lifted its stake in shares of 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 during the last quarter. Barclays PLC raised its holdings in NewAmsterdam Pharma by 1,813.4% in the 3rd quarter. Barclays PLC now owns 7,596 shares of the company's stock valued at $126,000 after buying an additional 7,199 shares during the period. Bellevue Group AG acquired a new position in NewAmsterdam Pharma in the third quarter valued at about $128,000. XTX Topco Ltd purchased a new position in NewAmsterdam Pharma during the third quarter worth about $187,000. Finally, JPMorgan Chase & Co. increased its position in shares of NewAmsterdam Pharma by 176.9% during the third quarter. JPMorgan Chase & Co. now owns 22,351 shares of the company's stock valued at $371,000 after acquiring an additional 14,280 shares during the last quarter. 89.89% of the stock is currently owned by hedge funds and other institutional investors.

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.