NewAmsterdam Pharma (NASDAQ:NAMS) Sees Strong Trading Volume – What’s Next?

Shares of NewAmsterdam Pharma (NASDAQ:NAMS) saw unusually-high trading volume on Monday . Approximately 501,403 shares changed hands during trading, an increase of 85% from the previous session’s volume of 271,041 shares.The stock last traded at $25.23 and had previously closed at $24.90.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports 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. Needham & Company LLC reiterated a “buy” rating and issued a $36.00 target price on shares of NewAmsterdam Pharma in a research note on Thursday, November 7th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $31.00 target price on shares of NewAmsterdam Pharma in a report on Thursday, September 5th. Seven investment 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 Stock Performance

The company has a 50-day moving average of $18.52 and a 200-day moving average of $18.58.

Insider Activity at NewAmsterdam Pharma

In related news, CAO Louise Frederika Kooij sold 45,000 shares of the firm’s 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 19.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Janus Henderson Group PLC purchased a new stake in NewAmsterdam Pharma in the first quarter valued at approximately $15,018,000. abrdn plc increased its stake in shares of NewAmsterdam Pharma by 69.8% in the third quarter. abrdn plc now owns 129,060 shares of the company’s stock worth $2,142,000 after acquiring an additional 53,060 shares during the period. Millennium Management LLC raised 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 worth $22,388,000 after purchasing an additional 217,902 shares during the last quarter. Banque Cantonale Vaudoise acquired a new position in NewAmsterdam Pharma during the second quarter valued at $38,000. Finally, Deerfield Management Company L.P. Series C boosted its holdings in 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 last quarter. 89.89% of the stock is owned by institutional investors and hedge funds.

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.