NewAmsterdam Pharma (NASDAQ:NAMS) Trading Up 4.7% - Here's What Happened

NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report) shares were up 4.7% on Tuesday . The company traded as high as $26.13 and last traded at $25.87. Approximately 686,809 shares traded hands during trading, an increase of 87% from the average daily volume of 367,896 shares. The stock had previously closed at $24.71.

Analysts Set New Price Targets

A number of brokerages have commented on NAMS. Piper Sandler restated an "overweight" rating and issued a $37.00 target price on shares of NewAmsterdam Pharma in a research note on Monday, September 23rd. Needham & Company LLC reissued a "buy" rating and issued a $36.00 price objective on shares of NewAmsterdam Pharma in a research note on Thursday, December 5th. Royal Bank of Canada reiterated an "outperform" rating and issued a $31.00 target price on shares of NewAmsterdam Pharma in a report on Thursday, September 5th. Finally, Scotiabank raised 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, December 11th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $36.20.

NewAmsterdam Pharma Trading Up 7.7 %

The company's 50 day moving average price is $20.84 and its 200 day moving average price is $18.81.

Insider Buying and Selling at NewAmsterdam Pharma

In other news, CAO Louise Frederika Kooij sold 45,000 shares of the company's stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $15.72, for a total value of $707,400.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Nap B.V. Forgrowth sold 8,530 shares of the firm's stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $25.02, for a total value of $213,420.60. Following the sale, the insider now directly owns 11,812,033 shares in the company, valued at approximately $295,537,065.66. This trade represents a 0.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 252,814 shares of company stock worth $5,970,327. 19.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of NAMS. Geode Capital Management LLC increased its holdings in shares of NewAmsterdam Pharma by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 86,322 shares of the company's stock valued at $1,433,000 after purchasing an additional 1,399 shares in the last quarter. Banque Cantonale Vaudoise acquired a new stake in NewAmsterdam Pharma during the second quarter valued at $38,000. Quarry LP increased its holdings in NewAmsterdam Pharma by 2,469.2% in the third quarter. Quarry LP now owns 6,500 shares of the company's stock valued at $108,000 after buying an additional 6,247 shares in the last quarter. Barclays PLC raised its position in shares of NewAmsterdam Pharma by 1,813.4% in the third quarter. Barclays PLC now owns 7,596 shares of the company's stock worth $126,000 after acquiring an additional 7,199 shares during the period. Finally, Bellevue Group AG purchased a new stake in shares of NewAmsterdam Pharma during the 3rd quarter worth about $128,000. 89.89% of the stock is 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.