NewAmsterdam Pharma (NASDAQ:NAMS) Sees Unusually-High Trading Volume - What's Next?

Shares of NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report) saw unusually-strong trading volume on Friday . Approximately 1,073,678 shares were traded during mid-day trading, an increase of 196% from the previous session's volume of 363,004 shares.The stock last traded at $24.53 and had previously closed at $25.09.

Analysts Set New Price Targets

Several research firms recently commented on NAMS. Needham & Company LLC restated a "buy" rating and issued a $36.00 price target on shares of NewAmsterdam Pharma in a research note on Thursday, December 5th. Royal Bank of Canada restated an "outperform" rating and set a $31.00 target price on shares of NewAmsterdam Pharma in a research report on Thursday, September 5th. Piper Sandler reiterated an "overweight" rating and issued a $37.00 price target 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 company a "sector outperform" rating in a research note on Wednesday. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, NewAmsterdam Pharma currently has a consensus rating of "Buy" and a consensus target price of $36.20.

NewAmsterdam Pharma Stock Down 1.6 %

The firm's fifty day simple moving average is $20.53 and its 200 day simple moving average is $18.71.

Insider Activity at NewAmsterdam Pharma

In related news, CAO Louise Frederika Kooij sold 45,000 shares of the company's stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $15.72, for a total transaction of $707,400.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Nap B.V. Forgrowth sold 33,273 shares of NewAmsterdam Pharma stock in a transaction dated Monday, November 18th. The shares were 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 approximately $295,411,300.80. This represents a 0.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 86,803 shares of company stock valued at $1,755,307 over the last three months. 19.50% of the stock is owned by insiders.

Hedge Funds Weigh In On NewAmsterdam Pharma

A number of institutional investors have recently added to or reduced their stakes in the stock. Banque Cantonale Vaudoise bought a new stake in shares of NewAmsterdam Pharma during the second quarter worth $38,000. Quarry LP grew its position in NewAmsterdam Pharma by 2,469.2% during the 3rd quarter. Quarry LP now owns 6,500 shares of the company's stock worth $108,000 after acquiring an additional 6,247 shares during the last quarter. Barclays PLC increased 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 worth $126,000 after purchasing an additional 7,199 shares in the last quarter. Bellevue Group AG bought a new position in NewAmsterdam Pharma in the third quarter valued at about $128,000. Finally, XTX Topco Ltd bought a new position in NewAmsterdam Pharma in the third quarter valued at about $187,000. 89.89% of the stock is currently owned by institutional investors and hedge funds.

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.