NewAmsterdam Pharma (NASDAQ:NAMS) Shares Gap Down - What's Next?

NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report)'s share price gapped down before the market opened on Wednesday . The stock had previously closed at $26.61, but opened at $26.00. NewAmsterdam Pharma shares last traded at $26.71, with a volume of 88,008 shares trading hands.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Scotiabank lifted their price objective on shares of NewAmsterdam Pharma from $35.00 to $47.00 and gave the stock a "sector outperform" rating in a research note on Wednesday, December 11th. Needham & Company LLC reissued 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 reaffirmed an "outperform" rating and issued a $31.00 price objective on shares of NewAmsterdam Pharma in a research note on Thursday, September 5th. Finally, Piper Sandler reissued an "overweight" rating and set a $37.00 target price on shares of NewAmsterdam Pharma in a research report on Monday, September 23rd. Six analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $36.20.

NewAmsterdam Pharma Price Performance

The company has a fifty day simple moving average of $20.84 and a two-hundred day simple moving average of $18.81.

Insider Activity at NewAmsterdam Pharma

In other news, major shareholder Nap B.V. Forgrowth sold 166,011 shares of the business's stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $25.39, for a total value of $4,215,019.29. Following the completion of the transaction, the insider now directly owns 11,150,461 shares of the company's stock, valued at approximately $283,110,204.79. The trade was a 1.47 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Louise Frederika Kooij sold 45,000 shares of the firm's stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $15.72, for a total value of $707,400.00. The disclosure for this sale can be found here. Insiders sold 252,814 shares of company stock worth $5,970,327 over the last three months. 19.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On NewAmsterdam Pharma

Several institutional investors have recently bought and sold shares of the company. Banque Cantonale Vaudoise acquired a new stake in NewAmsterdam Pharma in the second quarter worth about $38,000. Quarry LP raised its position 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 boosted its stake 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 purchased a new stake in NewAmsterdam Pharma during the 3rd quarter worth approximately $128,000. Finally, XTX Topco Ltd acquired a new position in NewAmsterdam Pharma during the 3rd quarter valued at approximately $187,000. 89.89% of the stock is currently 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.