NewAmsterdam Pharma (NASDAQ:NAMS) Reaches New 12-Month High – Should You Buy?

NewAmsterdam Pharma (NASDAQ:NAMS) shares reached a new 52-week high on Wednesday . The stock traded as high as $27.53 and last traded at $27.53, with a volume of 257 shares. The stock had previously closed at $26.04.

Analysts Set New Price Targets

A number of equities analysts have issued reports on NAMS shares. Scotiabank increased their price target on NewAmsterdam Pharma from $35.00 to $47.00 and gave the stock a “sector outperform” rating in a report on Wednesday, December 11th. Needham & Company LLC reissued a “buy” rating and set a $36.00 target price on shares of NewAmsterdam Pharma in a research note on Thursday, December 5th. HC Wainwright assumed coverage on shares of NewAmsterdam Pharma in a report on Monday, December 30th. They set a “buy” rating and a $48.00 price objective on the stock. Finally, Piper Sandler restated an “overweight” rating and issued a $37.00 target price on shares of NewAmsterdam Pharma in a research note on Monday, September 23rd. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $38.17.

NewAmsterdam Pharma Stock Down 1.9 %

The stock has a 50 day moving average of $23.27 and a 200-day moving average of $19.64.

Insider Transactions at NewAmsterdam Pharma

In other NewAmsterdam Pharma news, major shareholder Nap B.V. Forgrowth sold 29,846 shares of the stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $25.54, for a total transaction of $762,266.84. Following the transaction, the insider now directly owns 10,656,172 shares in the company, valued at $272,158,632.88. This represents a 0.28 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last quarter, insiders sold 446,730 shares of company stock worth $11,438,695. 19.50% of the stock is currently owned by insiders.

Institutional Trading of NewAmsterdam Pharma

Several hedge funds have recently modified their holdings of the company. Sei Investments Co. lifted its stake in shares of NewAmsterdam Pharma by 49.1% during the second quarter. Sei Investments Co. now owns 24,561 shares of the company’s stock worth $472,000 after buying an additional 8,087 shares during the period. Affinity Asset Advisors LLC grew its stake in NewAmsterdam Pharma by 47.9% during the 2nd quarter. Affinity Asset Advisors LLC now owns 423,155 shares of the company’s stock valued at $8,129,000 after purchasing an additional 136,955 shares during the last quarter. Decheng Capital LLC purchased a new position in shares of NewAmsterdam Pharma in the second quarter worth about $7,684,000. Deerfield Management Company L.P. Series C boosted its position 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 buying an additional 202,250 shares during the last quarter. Finally, Millennium Management LLC increased its holdings in NewAmsterdam Pharma by 23.0% in the 2nd quarter. Millennium Management LLC now owns 1,165,429 shares of the company’s stock worth $22,388,000 after buying an additional 217,902 shares during the period. 89.89% of the stock is owned by hedge funds and other institutional investors.

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.