NewAmsterdam Pharma (NASDAQ:NAMS) Shares Gap Down - Time to Sell?

Shares of NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report) gapped down before the market opened on Tuesday . The stock had previously closed at $22.61, but opened at $22.14. NewAmsterdam Pharma shares last traded at $22.27, with a volume of 21,886 shares changing hands.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on NAMS. HC Wainwright restated a "buy" rating and set a $48.00 price objective on shares of NewAmsterdam Pharma in a research note on Tuesday, January 14th. Needham & Company LLC reaffirmed a "buy" rating and issued a $36.00 price target on shares of NewAmsterdam Pharma in a report on Thursday, December 5th. Royal Bank of Canada reiterated an "outperform" rating and set a $40.00 price objective on shares of NewAmsterdam Pharma in a research note on Friday, January 24th. Finally, Scotiabank lifted 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 investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of "Buy" and an average price target of $41.60.

NewAmsterdam Pharma Price Performance

The company's 50-day moving average is $23.52 and its two-hundred day moving average is $19.97.

Insider Buying and Selling

In other NewAmsterdam Pharma news, major shareholder Nap B.V. Forgrowth sold 33,273 shares of the business's 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 sale, the insider now directly owns 11,778,760 shares in the company, valued at approximately $295,411,300.80. The trade was a 0.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 446,730 shares of company stock valued at $11,438,695 in the last three months. 19.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On NewAmsterdam Pharma

Several hedge funds have recently modified their holdings of the stock. Sei Investments Co. grew its holdings 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 valued at $472,000 after buying an additional 8,087 shares in the last quarter. Millennium Management LLC grew its stake in NewAmsterdam Pharma by 23.0% during the 2nd quarter. Millennium Management LLC now owns 1,165,429 shares of the company's stock valued at $22,388,000 after acquiring an additional 217,902 shares in the last quarter. abrdn plc increased its holdings in shares of NewAmsterdam Pharma by 69.8% in the 3rd quarter. abrdn plc now owns 129,060 shares of the company's stock valued at $2,142,000 after purchasing an additional 53,060 shares during the period. TimesSquare Capital Management LLC lifted its position in shares of NewAmsterdam Pharma by 3.7% in the third quarter. TimesSquare Capital Management LLC now owns 255,245 shares of the company's stock worth $4,237,000 after purchasing an additional 9,160 shares in the last quarter. Finally, Lisanti Capital Growth LLC purchased a new stake in shares of NewAmsterdam Pharma in the third quarter worth approximately $700,000. 89.89% of the stock is 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.