NewAmsterdam Pharma (NASDAQ:NAMS) Earns Buy Rating from Needham & Company LLC

NewAmsterdam Pharma (NASDAQ:NAMS)‘s stock had its “buy” rating reiterated by investment analysts at Needham & Company LLC in a research report issued on Thursday,Benzinga reports. They presently have a $36.00 target price on the stock. Needham & Company LLC’s price objective would indicate a potential upside of 78.22% from the company’s previous close.

A number of other research firms also recently issued reports on NAMS. Piper Sandler reiterated an “overweight” rating and issued a $37.00 price objective on shares of NewAmsterdam Pharma in a report on Monday, September 23rd. Royal Bank of Canada reissued an “outperform” rating and set a $31.00 price target on shares of NewAmsterdam Pharma in a research report on Thursday, September 5th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $33.80.

NewAmsterdam Pharma Price Performance

Shares of NASDAQ:NAMS opened at $20.20 on Thursday. The stock has a 50 day moving average price of $19.07 and a 200-day moving average price of $18.62. NewAmsterdam Pharma has a 52-week low of $8.90 and a 52-week high of $26.35.

Insider Transactions at NewAmsterdam Pharma

In other news, major shareholder Nap B.V. Forgrowth sold 33,273 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were 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 represents a 0.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Louise Frederika Kooij sold 45,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $15.72, for a total transaction of $707,400.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 86,803 shares of company stock valued at $1,755,307. Insiders own 19.50% of the company’s stock.

Institutional Investors Weigh In On NewAmsterdam Pharma

Institutional investors have recently modified their holdings of the business. Banque Cantonale Vaudoise bought a new position in NewAmsterdam Pharma during the 2nd quarter valued at about $38,000. Quarry LP lifted its position in NewAmsterdam Pharma by 2,469.2% during the third quarter. Quarry LP now owns 6,500 shares of the company’s stock valued at $108,000 after purchasing an additional 6,247 shares during the period. Barclays PLC boosted its holdings in NewAmsterdam Pharma by 1,813.4% in the third quarter. Barclays PLC now owns 7,596 shares of the company’s stock worth $126,000 after purchasing an additional 7,199 shares during the last quarter. Bellevue Group AG purchased a new stake in NewAmsterdam Pharma in the third quarter worth approximately $128,000. Finally, XTX Topco Ltd bought a new stake in NewAmsterdam Pharma in the 3rd quarter worth approximately $187,000. 89.89% of the stock is owned by hedge funds and other institutional investors.

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.