NewAmsterdam Pharma (NASDAQ:NAMS) Trading Up 4.1% - Still a Buy?

NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report)'s stock price shot up 4.1% during mid-day trading on Friday . The stock traded as high as $23.24 and last traded at $22.67. 666,882 shares changed hands during trading, an increase of 2% from the average session volume of 653,617 shares. The stock had previously closed at $21.77.

Analyst Upgrades and Downgrades

NAMS has been the subject of several recent analyst reports. Scotiabank raised their price target on NewAmsterdam Pharma from $35.00 to $47.00 and gave the stock a "sector outperform" rating in a report on Wednesday, December 11th. Royal Bank of Canada reiterated an "outperform" rating and issued a $40.00 target price on shares of NewAmsterdam Pharma in a research note on Friday, January 24th. HC Wainwright restated a "buy" rating and set a $48.00 price target on shares of NewAmsterdam Pharma in a research note on Tuesday, January 14th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $36.00 price objective on shares of NewAmsterdam Pharma in a research note on Thursday, December 5th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $41.60.

NewAmsterdam Pharma Price Performance

The company's fifty day moving average is $23.57 and its two-hundred day moving average is $20.04.

Insider Transactions at NewAmsterdam Pharma

In related news, major shareholder Nap B.V. Forgrowth sold 166,011 shares of NewAmsterdam Pharma stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $25.39, for a total transaction of $4,215,019.29. Following the completion of the transaction, the insider now directly owns 11,150,461 shares in the company, valued at approximately $283,110,204.79. This trade represents a 1.47 % 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 446,730 shares of company stock worth $11,438,695 over the last 90 days. 19.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On NewAmsterdam Pharma

Hedge funds and other institutional investors have recently made changes to their positions in the company. Frazier Life Sciences Management L.P. boosted its holdings in NewAmsterdam Pharma by 5.1% during the third quarter. Frazier Life Sciences Management L.P. now owns 12,855,194 shares of the company's stock worth $213,396,000 after buying an additional 628,251 shares in the last quarter. Jennison Associates LLC boosted its stake 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 worth $102,763,000 after acquiring an additional 2,978,263 shares in the last quarter. Janus Henderson Group PLC grew its position in shares of NewAmsterdam Pharma by 51.1% during the 3rd quarter. Janus Henderson Group PLC now owns 1,540,729 shares of the company's stock valued at $25,607,000 after acquiring an additional 520,772 shares during the period. TimesSquare Capital Management LLC grew its position in shares of NewAmsterdam Pharma by 250.9% during the 4th quarter. TimesSquare Capital Management LLC now owns 895,574 shares of the company's stock valued at $23,016,000 after acquiring an additional 640,329 shares during the period. Finally, ArrowMark Colorado Holdings LLC increased its stake in shares of NewAmsterdam Pharma by 19.5% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 354,975 shares of the company's stock valued at $5,893,000 after purchasing an additional 57,806 shares in the last quarter. Institutional investors and hedge funds own 89.89% of the company's stock.

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.