NewAmsterdam Pharma (NASDAQ:NAMS) Receives Buy Rating from Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of NewAmsterdam Pharma (NASDAQ:NAMS) in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a $36.00 price target on the stock.

NAMS has been the topic of several other reports. Royal Bank of Canada reissued an “outperform” rating and set a $31.00 price target on shares of NewAmsterdam Pharma in a research report on Thursday, September 5th. Piper Sandler reissued an “overweight” rating and set a $37.00 price target on shares of NewAmsterdam Pharma in a research report on Monday, September 23rd. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $33.80.

NewAmsterdam Pharma Stock Down 1.1 %

Shares of NAMS opened at $18.07 on Thursday. NewAmsterdam Pharma has a 52-week low of $8.90 and a 52-week high of $26.35. The business’s 50 day moving average is $19.83 and its two-hundred day moving average is $18.56.

Insider Buying and Selling

In related news, CAO Louise Frederika Kooij sold 45,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $15.72, for a total transaction of $707,400.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Nap B.V. Forgrowth sold 33,273 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $25.08, for a total value of $834,486.84. Following the transaction, the insider now owns 11,778,760 shares of the company’s stock, valued at approximately $295,411,300.80. The trade was a 0.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 86,803 shares of company stock worth $1,755,307 in the last three months. 19.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Barclays PLC grew its stake in shares of NewAmsterdam Pharma by 1,813.4% in 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 in the last quarter. Geode Capital Management LLC grew its stake in shares of NewAmsterdam Pharma by 1.6% in the third quarter. Geode Capital Management LLC now owns 86,322 shares of the company’s stock worth $1,433,000 after purchasing an additional 1,399 shares in the last quarter. M&T Bank Corp grew its stake in shares of NewAmsterdam Pharma by 54.1% in the third quarter. M&T Bank Corp now owns 27,328 shares of the company’s stock worth $454,000 after purchasing an additional 9,593 shares in the last quarter. Frazier Life Sciences Management L.P. grew its stake in shares of NewAmsterdam Pharma by 5.1% in 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 purchasing an additional 628,251 shares in the last quarter. Finally, XTX Topco Ltd bought a new position in shares of NewAmsterdam Pharma in the third quarter worth $187,000. Institutional investors 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.