NewAmsterdam Pharma (NASDAQ:NAMS) Shares Gap Down – Here’s What Happened

NewAmsterdam Pharma (NASDAQ:NAMS) gapped down before the market opened on Thursday . The stock had previously closed at $25.57, but opened at $24.43. NewAmsterdam Pharma shares last traded at $26.38, with a volume of 538,658 shares changing hands.

Analyst Ratings Changes

Several research firms have weighed in on NAMS. Needham & Company LLC reiterated a “buy” rating and issued a $36.00 target price on shares of NewAmsterdam Pharma in a report on Thursday, December 5th. Scotiabank raised their price objective on NewAmsterdam Pharma from $35.00 to $47.00 and gave the stock a “sector outperform” rating in a research note on Wednesday. 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. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $31.00 price target on shares of NewAmsterdam Pharma in a research report on Thursday, September 5th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $36.20.

NewAmsterdam Pharma Price Performance

The stock’s 50 day moving average is $20.53 and its two-hundred day moving average is $18.72.

Insider Activity

In other news, CAO Louise Frederika Kooij sold 45,000 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $15.72, for a total value of $707,400.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Nap B.V. Forgrowth sold 33,273 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $25.08, for a total transaction of $834,486.84. Following the transaction, the insider now owns 11,778,760 shares of the company’s stock, valued at $295,411,300.80. The trade was a 0.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 86,803 shares of company stock worth $1,755,307 over the last three months. Corporate insiders own 19.50% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Banque Cantonale Vaudoise bought a new stake in shares of NewAmsterdam Pharma during the 2nd quarter worth approximately $38,000. Quarry LP increased its holdings in NewAmsterdam Pharma by 2,469.2% during the third quarter. Quarry LP now owns 6,500 shares of the company’s stock worth $108,000 after buying an additional 6,247 shares during the last quarter. Barclays PLC raised its position in 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 acquiring an additional 7,199 shares in the last quarter. Bellevue Group AG acquired a new stake in 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 3rd quarter valued at about $187,000. 89.89% of the stock is owned by institutional investors and hedge funds.

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.