NewAmsterdam Pharma (NASDAQ:NAMS) Sees Strong Trading Volume – Should You Buy?

Shares of NewAmsterdam Pharma (NASDAQ:NAMS) saw strong trading volume on Friday . 1,073,678 shares changed hands during trading, an increase of 196% from the previous session’s volume of 363,004 shares.The stock last traded at $24.53 and had previously closed at $25.09.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on NAMS shares. Piper Sandler reiterated an “overweight” rating and issued a $37.00 price target on shares of NewAmsterdam Pharma in a report on Monday, September 23rd. Royal Bank of Canada reiterated an “outperform” rating and set a $31.00 target price on shares of NewAmsterdam Pharma in a research note on Thursday, September 5th. Needham & Company LLC reissued a “buy” rating and set a $36.00 target price on shares of NewAmsterdam Pharma in a report on Thursday, December 5th. Finally, Scotiabank lifted their price target on shares of NewAmsterdam Pharma from $35.00 to $47.00 and gave the company a “sector outperform” rating in a report on Wednesday. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, NewAmsterdam Pharma has an average rating of “Buy” and a consensus target price of $36.20.

NewAmsterdam Pharma Stock Performance

The stock has a 50 day moving average of $20.40 and a 200 day moving average of $18.68.

Insider Activity

In related news, CAO Louise Frederika Kooij sold 45,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $15.72, for a total value of $707,400.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Nap B.V. Forgrowth sold 33,273 shares of NewAmsterdam Pharma stock in a transaction on 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 directly owns 11,778,760 shares in the company, 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. Over the last quarter, insiders sold 86,803 shares of company stock valued at $1,755,307. 19.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On NewAmsterdam Pharma

Several institutional investors have recently bought and sold shares of the stock. Banque Cantonale Vaudoise acquired a new position in NewAmsterdam Pharma during the 2nd quarter valued at about $38,000. Quarry LP boosted its holdings in shares of NewAmsterdam Pharma by 2,469.2% in the third quarter. Quarry LP now owns 6,500 shares of the company’s stock valued at $108,000 after acquiring an additional 6,247 shares in the last quarter. Barclays PLC increased its stake 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 valued at $126,000 after acquiring an additional 7,199 shares during the period. Bellevue Group AG acquired a new position in shares of NewAmsterdam Pharma during the third quarter valued at approximately $128,000. Finally, XTX Topco Ltd bought a new stake in NewAmsterdam Pharma during the third quarter worth approximately $187,000. 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.