NewAmsterdam Pharma (NASDAQ:NAMS) Shares Down 2.7% – What’s Next?

Shares of NewAmsterdam Pharma (NASDAQ:NAMS) fell 2.7% during mid-day trading on Friday . The company traded as low as $19.87 and last traded at $20.23. 43,704 shares traded hands during mid-day trading, a decline of 85% from the average session volume of 295,765 shares. The stock had previously closed at $20.80.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on NAMS shares. Piper Sandler reaffirmed an “overweight” rating and set a $37.00 price target on shares of NewAmsterdam Pharma in a report on Monday, September 23rd. Needham & Company LLC restated a “buy” rating and issued a $36.00 target price on shares of NewAmsterdam Pharma in a research report on Thursday, November 21st. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $31.00 price objective on shares of NewAmsterdam Pharma in a research note on Thursday, September 5th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, NewAmsterdam Pharma has an average rating of “Buy” and a consensus price target of $33.80.

NewAmsterdam Pharma Trading Down 5.8 %

The firm’s 50-day moving average price is $19.37 and its two-hundred day moving average price is $18.58.

Insider Transactions at NewAmsterdam Pharma

In other NewAmsterdam Pharma news, CAO Louise Frederika Kooij sold 45,000 shares of NewAmsterdam Pharma stock in a transaction 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Nap B.V. Forgrowth sold 33,273 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $295,411,300.80. This trade represents a 0.28 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 86,803 shares of company stock valued at $1,755,307. 19.50% of the stock is owned by insiders.

Institutional Trading of NewAmsterdam Pharma

Hedge funds have recently modified their holdings of the company. Janus Henderson Group PLC acquired a new stake in NewAmsterdam Pharma during the 1st quarter worth $15,018,000. Rosalind Advisors Inc. acquired a new position in shares of NewAmsterdam Pharma in the 2nd quarter valued at approximately $194,000. Banque Cantonale Vaudoise bought a new stake in NewAmsterdam Pharma during the 2nd quarter worth approximately $38,000. Wolverine Asset Management LLC lifted its stake in NewAmsterdam Pharma by 117.7% in the second quarter. Wolverine Asset Management LLC now owns 15,524 shares of the company’s stock valued at $298,000 after buying an additional 8,394 shares in the last quarter. Finally, Sei Investments Co. lifted its stake in NewAmsterdam Pharma by 49.1% in the second quarter. Sei Investments Co. now owns 24,561 shares of the company’s stock valued at $472,000 after buying an additional 8,087 shares in the last quarter. 89.89% of the stock is currently 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.