NewAmsterdam Pharma (NASDAQ:NAMS) Shares Gap Up - Time to Buy?

Shares of NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report) gapped up prior to trading on Tuesday . The stock had previously closed at $17.53, but opened at $18.25. NewAmsterdam Pharma shares last traded at $17.36, with a volume of 41,066 shares.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Royal Bank of Canada reaffirmed an "outperform" rating and set a $40.00 price target on shares of NewAmsterdam Pharma in a report on Friday, January 24th. Needham & Company LLC dropped their price target on shares of NewAmsterdam Pharma from $46.00 to $42.00 and set a "buy" rating on the stock in a report on Thursday. HC Wainwright reiterated a "buy" rating and issued a $48.00 price target on shares of NewAmsterdam Pharma in a research note on Tuesday, January 14th. Finally, Scotiabank raised their target price on shares of NewAmsterdam Pharma from $47.00 to $52.00 and gave the stock a "sector outperform" rating in a report on Thursday. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $43.80.

NewAmsterdam Pharma Trading Up 0.4 %

The firm's fifty day simple moving average is $22.55 and its two-hundred day simple moving average is $20.28.

NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report) last released its earnings results on Wednesday, February 26th. The company reported ($0.95) earnings per share for the quarter, missing analysts' consensus estimates of ($0.48) by ($0.47). The company had revenue of $12.77 million for the quarter, compared to the consensus estimate of $3.30 million. As a group, equities research analysts forecast that NewAmsterdam Pharma will post -1.75 EPS for the current fiscal year.

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Insider Activity

In related news, major shareholder Nap B.V. Forgrowth sold 100,728 shares of the company's stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $26.10, for a total transaction of $2,629,000.80. Following the completion of the transaction, the insider now owns 10,908,502 shares in the company, valued at approximately $284,711,902.20. This represents a 0.91 % 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 have sold 404,927 shares of company stock worth $10,390,787 over the last ninety days. Corporate insiders own 19.50% of the company's stock.

Institutional Trading of NewAmsterdam Pharma

A number of institutional investors and hedge funds have recently bought and sold shares of NAMS. Frazier Life Sciences Management L.P. grew its position in shares of NewAmsterdam Pharma by 23.8% during the fourth quarter. Frazier Life Sciences Management L.P. now owns 15,916,418 shares of the company's stock valued at $409,052,000 after purchasing an additional 3,061,224 shares in the last quarter. Bain Capital Life Sciences Investors LLC lifted its stake in shares of NewAmsterdam Pharma by 2.3% in the 4th quarter. Bain Capital Life Sciences Investors LLC now owns 10,719,110 shares of the company's stock valued at $275,481,000 after purchasing an additional 245,197 shares during the last quarter. RA Capital Management L.P. boosted its holdings in shares of NewAmsterdam Pharma by 9.7% in the 4th quarter. RA Capital Management L.P. now owns 8,845,000 shares of the company's stock worth $227,316,000 after purchasing an additional 781,000 shares during the period. Deerfield Management Company L.P. Series C increased its position in shares of NewAmsterdam Pharma by 378.4% during the 4th quarter. Deerfield Management Company L.P. Series C now owns 4,314,340 shares of the company's stock valued at $110,879,000 after purchasing an additional 3,412,590 shares during the last quarter. Finally, Jennison Associates LLC increased its position in shares of NewAmsterdam Pharma by 291.9% during the 4th quarter. Jennison Associates LLC now owns 3,998,541 shares of the company's stock valued at $102,763,000 after purchasing an additional 2,978,263 shares during the last quarter. 89.89% of the stock is currently owned by institutional investors.

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.