NewAmsterdam Pharma (NASDAQ:NAMS) Shares Gap Up – What’s Next?

NewAmsterdam Pharma (NASDAQ:NAMS) shares gapped up before the market opened on Tuesday . The stock had previously closed at $17.53, but opened at $18.25. NewAmsterdam Pharma shares last traded at $17.36, with a volume of 41,066 shares.

Analysts Set New Price Targets

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

NewAmsterdam Pharma Price Performance

The firm’s 50 day moving average price is $23.03 and its 200-day moving average price is $20.25.

Insider Transactions at NewAmsterdam Pharma

In other news, major shareholder Nap B.V. Forgrowth sold 100,728 shares of NewAmsterdam Pharma stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $26.10, for a total transaction of $2,629,000.80. Following the sale, the insider now owns 10,908,502 shares of the company’s stock, valued at approximately $284,711,902.20. This trade represents a 0.91 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last 90 days, insiders have sold 404,927 shares of company stock worth $10,390,787. 19.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On NewAmsterdam Pharma

Large investors have recently made changes to their positions in the company. GF Fund Management CO. LTD. acquired a new position in NewAmsterdam Pharma in the fourth quarter valued at about $50,000. National Bank of Canada FI acquired a new position in shares of NewAmsterdam Pharma in the 4th quarter worth approximately $51,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in NewAmsterdam Pharma during the 4th quarter worth approximately $80,000. Quarry LP grew its position in NewAmsterdam Pharma by 2,469.2% during the 3rd quarter. Quarry LP now owns 6,500 shares of the company’s stock worth $108,000 after acquiring an additional 6,247 shares during the last quarter. Finally, Barclays PLC increased its holdings in NewAmsterdam Pharma by 1,813.4% during the 3rd quarter. Barclays PLC now owns 7,596 shares of the company’s stock valued at $126,000 after purchasing an additional 7,199 shares in the last quarter. Institutional investors 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.