JPMorgan Chase & Co. Acquires 14,280 Shares of NewAmsterdam Pharma (NASDAQ:NAMS)

JPMorgan Chase & Co. grew its position in NewAmsterdam Pharma (NASDAQ:NAMS - Free Report) by 176.9% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 22,351 shares of the company's stock after buying an additional 14,280 shares during the period. JPMorgan Chase & Co.'s holdings in NewAmsterdam Pharma were worth $371,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in NAMS. Quarry LP grew 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 worth $108,000 after purchasing an additional 6,247 shares during the period. Barclays PLC grew 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 worth $126,000 after purchasing an additional 7,199 shares during the period. Bellevue Group AG acquired a new stake in shares of NewAmsterdam Pharma during the third quarter worth $128,000. XTX Topco Ltd acquired a new stake in shares of NewAmsterdam Pharma during the third quarter worth $187,000. Finally, Sei Investments Co. grew its stake in shares of NewAmsterdam Pharma by 49.1% during the second quarter. Sei Investments Co. now owns 24,561 shares of the company's stock worth $472,000 after purchasing an additional 8,087 shares during the period. 89.89% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, major shareholder Nap B.V. Forgrowth sold 33,273 shares of the business's 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 sale, the insider now directly owns 11,778,760 shares in the company, valued at $295,411,300.80. The trade was a 0.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have sold a total of 446,730 shares of company stock worth $11,438,695 over the last three months. Corporate insiders own 19.50% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Needham & Company LLC reaffirmed a "buy" rating and set a $36.00 price objective on shares of NewAmsterdam Pharma in a research note on Thursday, December 5th. Royal Bank of Canada reissued an "outperform" rating and issued a $40.00 target price on shares of NewAmsterdam Pharma in a research note on Friday, January 24th. HC Wainwright reissued a "buy" rating and issued a $48.00 target price on shares of NewAmsterdam Pharma in a research note on Tuesday, January 14th. Finally, Scotiabank boosted their target price on NewAmsterdam Pharma from $35.00 to $47.00 and gave the company a "sector outperform" rating in a research note on Wednesday, December 11th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $41.60.

NewAmsterdam Pharma Stock Performance

Shares of NewAmsterdam Pharma stock traded up $0.99 during trading on Thursday, reaching $21.77. The stock had a trading volume of 870,565 shares, compared to its average volume of 659,682. The stock has a fifty day moving average price of $23.48 and a two-hundred day moving average price of $19.96. NewAmsterdam Pharma has a 52 week low of $15.19 and a 52 week high of $27.29.

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.