NewAmsterdam Pharma (NASDAQ:NAMS) Trading 7.5% Higher – Still a Buy?

NewAmsterdam Pharma (NASDAQ:NAMS)’s stock price traded up 7.5% during trading on Thursday . The stock traded as high as $21.63 and last traded at $21.51. 158,502 shares were traded during trading, a decline of 45% from the average session volume of 287,275 shares. The stock had previously closed at $20.01.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Needham & Company LLC restated a “buy” rating and set a $36.00 price objective on shares of NewAmsterdam Pharma in a report on Thursday. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $31.00 target price on shares of NewAmsterdam Pharma in a research report on Thursday, September 5th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $37.00 target price on shares of NewAmsterdam Pharma in a research report on Monday, September 23rd. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $33.80.

NewAmsterdam Pharma Price Performance

The stock has a 50-day simple moving average of $19.07 and a 200-day simple moving average of $18.62.

Insider Activity at NewAmsterdam Pharma

In other news, CAO Louise Frederika Kooij sold 45,000 shares of the stock in a transaction 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 Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Nap B.V. Forgrowth sold 8,530 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $25.02, for a total value of $213,420.60. Following the transaction, the insider now directly owns 11,812,033 shares of the company’s stock, valued at $295,537,065.66. This represents a 0.07 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 86,803 shares of company stock valued at $1,755,307. Corporate insiders own 19.50% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Frazier Life Sciences Management L.P. boosted its stake 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 valued at $213,396,000 after buying an additional 628,251 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in shares of NewAmsterdam Pharma by 51.1% during the third quarter. Janus Henderson Group PLC now owns 1,540,729 shares of the company’s stock valued at $25,607,000 after purchasing an additional 520,772 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of NewAmsterdam Pharma by 23.0% during the second 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 last quarter. Jennison Associates LLC lifted its holdings in shares of NewAmsterdam Pharma by 8.9% during the third quarter. Jennison Associates LLC now owns 1,020,278 shares of the company’s stock valued at $16,937,000 after purchasing an additional 83,115 shares during the last quarter. Finally, Deerfield Management Company L.P. Series C lifted its holdings in shares of NewAmsterdam Pharma by 30.3% during 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 last quarter. Institutional investors 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.