Needham & Company LLC Reiterates Buy Rating for NewAmsterdam Pharma (NASDAQ:NAMS)

NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report)'s stock had its "buy" rating restated by analysts at Needham & Company LLC in a research note issued to investors on Thursday,Benzinga reports. They currently have a $36.00 price target on the stock. Needham & Company LLC's target price indicates a potential upside of 80.05% from the company's current price.

Other equities analysts have also issued reports about the company. Royal Bank of Canada restated an "outperform" rating and set a $31.00 price target on shares of NewAmsterdam Pharma in a research note on Thursday, September 5th. Piper Sandler restated an "overweight" rating and set a $37.00 price objective on shares of NewAmsterdam Pharma in a research report on Monday, September 23rd. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, NewAmsterdam Pharma presently has an average rating of "Buy" and a consensus target price of $33.80.

NewAmsterdam Pharma Stock Performance

NASDAQ NAMS traded down $0.02 during midday trading on Thursday, hitting $20.00. The company had a trading volume of 1,005,854 shares, compared to its average volume of 291,810. The firm has a fifty day simple moving average of $18.90 and a two-hundred day simple moving average of $18.62. NewAmsterdam Pharma has a fifty-two week low of $8.90 and a fifty-two week high of $26.35.

Insider Buying and Selling at NewAmsterdam Pharma

In other news, major shareholder Nap B.V. Forgrowth sold 33,273 shares of the company's stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $25.08, for a total value of $834,486.84. Following the sale, the insider now owns 11,778,760 shares of the company's stock, valued at approximately $295,411,300.80. This represents a 0.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Louise Frederika Kooij sold 45,000 shares of NewAmsterdam Pharma stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $15.72, for a total transaction of $707,400.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 86,803 shares of company stock valued at $1,755,307. 19.50% of the stock is currently owned by corporate insiders.

Institutional Trading of NewAmsterdam Pharma

Several hedge funds have recently modified their holdings of the company. Banque Cantonale Vaudoise acquired a new position in shares of NewAmsterdam Pharma in the 2nd quarter worth approximately $38,000. Quarry LP boosted its stake in NewAmsterdam Pharma by 2,469.2% in the third quarter. Quarry LP now owns 6,500 shares of the company's stock worth $108,000 after purchasing an additional 6,247 shares in the last quarter. Barclays PLC grew its holdings in shares of NewAmsterdam Pharma by 1,813.4% during the third quarter. Barclays PLC now owns 7,596 shares of the company's stock worth $126,000 after purchasing an additional 7,199 shares during the last quarter. Bellevue Group AG acquired a new stake in shares of NewAmsterdam Pharma in the third quarter valued at $128,000. Finally, XTX Topco Ltd bought a new position in shares of NewAmsterdam Pharma in the third quarter valued at about $187,000. 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.