NewAmsterdam Pharma (NASDAQ:NAMS) Coverage Initiated by Analysts at HC Wainwright

HC Wainwright began coverage on shares of NewAmsterdam Pharma (NASDAQ:NAMS) in a report released on Monday, MarketBeat.com reports. The firm issued a buy rating and a $48.00 target price on the stock.

A number of other equities analysts have also recently weighed in on the stock. Scotiabank increased their price objective on shares of NewAmsterdam Pharma from $35.00 to $47.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, December 11th. Piper Sandler reissued an “overweight” rating and issued a $37.00 price objective on shares of NewAmsterdam Pharma in a research note on Monday, September 23rd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $31.00 target price on shares of NewAmsterdam Pharma in a research note on Thursday, September 5th. Finally, Needham & Company LLC restated a “buy” rating and issued a $36.00 price target on shares of NewAmsterdam Pharma in a research note on Thursday, December 5th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, NewAmsterdam Pharma has an average rating of “Buy” and a consensus price target of $38.17.

NewAmsterdam Pharma Stock Performance

NASDAQ:NAMS opened at $25.60 on Monday. The stock’s fifty day moving average is $21.99 and its two-hundred day moving average is $19.17. NewAmsterdam Pharma has a 52 week low of $11.18 and a 52 week high of $27.29.

Insider Transactions at NewAmsterdam Pharma

In other NewAmsterdam Pharma news, major shareholder Nap B.V. Forgrowth sold 166,011 shares of the firm’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $25.39, for a total value of $4,215,019.29. Following the sale, the insider now directly owns 11,150,461 shares in the company, valued at $283,110,204.79. This trade represents a 1.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last three months, insiders sold 416,884 shares of company stock valued at $10,676,428. Insiders own 19.50% of the company’s stock.

Institutional Investors Weigh In On NewAmsterdam Pharma

Hedge funds and other institutional investors have recently made changes to their positions in the business. FMR LLC increased its stake in NewAmsterdam Pharma by 35.6% in the third quarter. FMR LLC now owns 330,412 shares of the company’s stock valued at $5,485,000 after purchasing an additional 86,712 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of NewAmsterdam Pharma by 1,231.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 239,283 shares of the company’s stock valued at $3,972,000 after buying an additional 221,305 shares during the last quarter. abrdn plc raised its stake in NewAmsterdam Pharma by 69.8% during the 3rd quarter. abrdn plc now owns 129,060 shares of the company’s stock worth $2,142,000 after acquiring an additional 53,060 shares in the last quarter. Millennium Management LLC lifted its position in NewAmsterdam Pharma by 23.0% in the second quarter. Millennium Management LLC now owns 1,165,429 shares of the company’s stock valued at $22,388,000 after acquiring an additional 217,902 shares during the last quarter. Finally, Jennison Associates LLC boosted its stake in NewAmsterdam Pharma by 8.9% in the third 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 in the last quarter. Institutional investors and hedge funds own 89.89% of the company’s stock.

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.