NewAmsterdam Pharma (NASDAQ:NAMS) Given Outperform Rating at Royal Bank of Canada

NewAmsterdam Pharma (NASDAQ:NAMS)‘s stock had its “outperform” rating restated by equities researchers at Royal Bank of Canada in a report issued on Friday,Benzinga reports. They currently have a $40.00 price objective on the stock. Royal Bank of Canada’s price objective suggests a potential upside of 69.10% from the stock’s current price.

A number of other equities research analysts have also commented on NAMS. Needham & Company LLC reaffirmed a “buy” rating and set a $36.00 price target on shares of NewAmsterdam Pharma in a research report on Thursday, December 5th. HC Wainwright reiterated a “buy” rating and issued a $48.00 price target on shares of NewAmsterdam Pharma in a report on Tuesday, January 14th. Finally, Scotiabank boosted their price objective on shares of NewAmsterdam Pharma from $35.00 to $47.00 and gave the company a “sector outperform” rating in a research report on Wednesday, December 11th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $41.60.

NewAmsterdam Pharma Price Performance

Shares of NAMS traded up $0.45 during trading hours on Friday, reaching $23.65. The stock had a trading volume of 333,522 shares, compared to its average volume of 575,675. NewAmsterdam Pharma has a 52 week low of $15.19 and a 52 week high of $27.29. The firm has a 50-day moving average of $23.58 and a 200 day moving average of $19.91.

Insiders Place Their Bets

In related news, major shareholder Nap B.V. Forgrowth sold 33,273 shares of the business’s 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 directly owns 11,778,760 shares in the company, valued at approximately $295,411,300.80. The trade was a 0.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 446,730 shares of company stock valued at $11,438,695 in the last three months. 19.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of NAMS. Frazier Life Sciences Management L.P. grew its holdings in NewAmsterdam Pharma by 5.1% during 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 during the period. Janus Henderson Group PLC boosted its stake in shares of NewAmsterdam Pharma by 51.1% during 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 increased its holdings in shares of NewAmsterdam Pharma by 23.0% during the 2nd quarter. Millennium Management LLC now owns 1,165,429 shares of the company’s stock worth $22,388,000 after acquiring an additional 217,902 shares during the last quarter. Jennison Associates LLC raised its stake in NewAmsterdam Pharma by 8.9% in the 3rd quarter. Jennison Associates LLC now owns 1,020,278 shares of the company’s stock valued at $16,937,000 after acquiring an additional 83,115 shares during the period. Finally, ArrowMark Colorado Holdings LLC lifted its holdings in NewAmsterdam Pharma by 19.5% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 354,975 shares of the company’s stock valued at $5,893,000 after purchasing an additional 57,806 shares during 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.