NewAmsterdam Pharma (NASDAQ:NAMS) Receives Average Rating of "Buy" from Brokerages

NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report) has been given an average recommendation of "Buy" by the six analysts that are currently covering the firm, Marketbeat Ratings reports. Six investment analysts have rated the stock with a buy rating. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $33.80.

NAMS has been the topic of several research reports. Royal Bank of Canada restated an "outperform" rating and set a $31.00 price objective on shares of NewAmsterdam Pharma in a report on Thursday, September 5th. Needham & Company LLC restated a "buy" rating and issued a $36.00 price target on shares of NewAmsterdam Pharma in a report on Thursday, November 21st. Finally, Piper Sandler reiterated an "overweight" rating and set a $37.00 price objective on shares of NewAmsterdam Pharma in a research note on Monday, September 23rd.

NewAmsterdam Pharma Price Performance

NAMS traded down $0.95 during trading hours on Friday, reaching $19.85. 392,671 shares of the company's stock traded hands, compared to its average volume of 740,209. NewAmsterdam Pharma has a 52-week low of $8.90 and a 52-week high of $26.35. The firm has a 50-day moving average price of $19.55 and a 200 day moving average price of $18.58.

Insider Buying and Selling

In related news, major shareholder Nap B.V. Forgrowth sold 33,273 shares of the firm's stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $25.08, for a total transaction of $834,486.84. Following the completion of the transaction, the insider now directly 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 legal filing with the SEC, which is available through this link. Also, CAO Louise Frederika Kooij sold 45,000 shares of the firm's stock in a transaction on Tuesday, October 1st. The shares were 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. Insiders sold 86,803 shares of company stock worth $1,755,307 in the last 90 days. Insiders own 19.50% of the company's stock.

Institutional Investors Weigh In On NewAmsterdam Pharma

Several hedge funds have recently modified their holdings of NAMS. Frazier Life Sciences Management L.P. boosted its position in shares of NewAmsterdam Pharma by 5.1% in the 3rd quarter. Frazier Life Sciences Management L.P. now owns 12,855,194 shares of the company's stock worth $213,396,000 after buying an additional 628,251 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of NewAmsterdam Pharma by 51.1% during the third quarter. Janus Henderson Group PLC now owns 1,540,729 shares of the company's stock worth $25,607,000 after purchasing an additional 520,772 shares in the last quarter. Millennium Management LLC increased its stake in shares of NewAmsterdam Pharma by 23.0% in the second quarter. Millennium Management LLC now owns 1,165,429 shares of the company's stock worth $22,388,000 after buying an additional 217,902 shares during the last quarter. Jennison Associates LLC raised its position in shares of NewAmsterdam Pharma by 8.9% during the 3rd quarter. Jennison Associates LLC now owns 1,020,278 shares of the company's stock valued at $16,937,000 after acquiring an additional 83,115 shares in the last quarter. Finally, Deerfield Management Company L.P. Series C grew its holdings in shares of NewAmsterdam Pharma by 30.3% during the second quarter. Deerfield Management Company L.P. Series C now owns 869,250 shares of the company's stock valued at $16,698,000 after purchasing an additional 202,250 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.