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

Shares of NewAmsterdam Pharma (NASDAQ:NAMS) gapped down prior to trading on Wednesday . The stock had previously closed at $26.61, but opened at $26.00. NewAmsterdam Pharma shares last traded at $26.71, with a volume of 88,008 shares changing hands.

Analysts Set New Price Targets

NAMS has been the subject of several research reports. 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. Royal Bank of Canada reaffirmed an “outperform” rating and set a $31.00 price target on shares of NewAmsterdam Pharma in a research note on Thursday, September 5th. Needham & Company LLC reaffirmed a “buy” rating and issued a $36.00 target price on shares of NewAmsterdam Pharma in a research note on Thursday, December 5th. Finally, Scotiabank increased their price target on NewAmsterdam Pharma from $35.00 to $47.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, December 11th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, NewAmsterdam Pharma presently has a consensus rating of “Buy” and an average target price of $36.20.

NewAmsterdam Pharma Price Performance

The company’s fifty day moving average is $20.84 and its 200 day moving average is $18.81.

Insider Buying and Selling

In other news, CAO Louise Frederika Kooij sold 45,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $15.72, for a total transaction of $707,400.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Nap B.V. Forgrowth sold 33,273 shares of the stock in a transaction on Monday, November 18th. The shares were 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 in the company, valued at $295,411,300.80. This trade represents a 0.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 252,814 shares of company stock valued at $5,970,327. Company insiders own 19.50% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Frazier Life Sciences Management L.P. boosted its position in NewAmsterdam Pharma by 5.1% during the 3rd quarter. Frazier Life Sciences Management L.P. now owns 12,855,194 shares of the company’s stock valued at $213,396,000 after purchasing an additional 628,251 shares during the period. Janus Henderson Group PLC increased its holdings in shares of NewAmsterdam Pharma by 51.1% in the 3rd quarter. Janus Henderson Group PLC now owns 1,540,729 shares of the company’s stock worth $25,607,000 after acquiring an additional 520,772 shares during the period. Millennium Management LLC boosted its stake in NewAmsterdam Pharma by 23.0% during the 2nd quarter. Millennium Management LLC now owns 1,165,429 shares of the company’s stock valued at $22,388,000 after purchasing an additional 217,902 shares during the period. Jennison Associates LLC grew its position in NewAmsterdam Pharma by 8.9% in the 3rd quarter. Jennison Associates LLC now owns 1,020,278 shares of the company’s stock worth $16,937,000 after purchasing an additional 83,115 shares during the last quarter. Finally, Deerfield Management Company L.P. Series C increased its stake in shares of NewAmsterdam Pharma by 30.3% in the second quarter. Deerfield Management Company L.P. Series C now owns 869,250 shares of the company’s stock valued at $16,698,000 after purchasing an additional 202,250 shares during the period. 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.