NewAmsterdam Pharma (NASDAQ:NAMS) Stock Price Down 4.9% - What's Next?

NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report)'s share price fell 4.9% during trading on Thursday . The stock traded as low as $22.53 and last traded at $22.82. 116,195 shares were traded during trading, a decline of 78% from the average session volume of 516,675 shares. The stock had previously closed at $24.00.

Wall Street Analysts Forecast Growth

NAMS has been the subject of a number of research analyst reports. Piper Sandler reissued an "overweight" rating and issued a $37.00 target price on shares of NewAmsterdam Pharma in a research note on Monday, September 23rd. HC Wainwright reiterated a "buy" rating and issued a $48.00 price objective on shares of NewAmsterdam Pharma in a research report on Tuesday. Needham & Company LLC reissued a "buy" rating and set a $36.00 target price on shares of NewAmsterdam Pharma in a research note on Thursday, December 5th. Finally, Scotiabank lifted their price target on shares of NewAmsterdam Pharma from $35.00 to $47.00 and gave the company a "sector outperform" rating in a research note on Wednesday, December 11th. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $38.17.

NewAmsterdam Pharma Trading Up 0.6 %

The stock has a fifty day moving average of $23.69 and a 200-day moving average of $19.80.

Insider Transactions at NewAmsterdam Pharma

In related news, major shareholder Nap B.V. Forgrowth sold 8,530 shares of the company's stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $25.02, for a total transaction of $213,420.60. Following the sale, the insider now owns 11,812,033 shares in the company, valued at approximately $295,537,065.66. This represents a 0.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders sold 446,730 shares of company stock valued at $11,438,695 in the last ninety days. 19.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On NewAmsterdam Pharma

A number of institutional investors have recently bought and sold shares of NAMS. Quarry LP grew its stake in shares of 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 acquiring an additional 6,247 shares in the last quarter. Barclays PLC increased its stake in NewAmsterdam Pharma by 1,813.4% during the 3rd 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. Bellevue Group AG acquired a new position in NewAmsterdam Pharma in the 3rd quarter valued at $128,000. XTX Topco Ltd bought a new stake in shares of NewAmsterdam Pharma during the 3rd quarter valued at $187,000. Finally, HB Wealth Management LLC bought a new stake in shares of NewAmsterdam Pharma during the 4th quarter valued at $224,000. Institutional investors and hedge funds own 89.89% of the company's stock.

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.