State Street Corp Purchases 23,805 Shares of NewAmsterdam Pharma (NASDAQ:NAMS)

State Street Corp raised its holdings in shares of NewAmsterdam Pharma (NASDAQ:NAMS) by 168.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 37,915 shares of the company’s stock after acquiring an additional 23,805 shares during the period. State Street Corp’s holdings in NewAmsterdam Pharma were worth $629,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Quarry LP grew its holdings in shares of NewAmsterdam Pharma by 2,469.2% during the 3rd 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 last quarter. Bellevue Group AG purchased a new stake in NewAmsterdam Pharma during the third quarter valued at about $128,000. Wolverine Asset Management LLC boosted its position in NewAmsterdam Pharma by 117.7% during the second quarter. Wolverine Asset Management LLC now owns 15,524 shares of the company’s stock valued at $298,000 after buying an additional 8,394 shares during the period. Sei Investments Co. grew 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 valued at $472,000 after buying an additional 8,087 shares during the last quarter. Finally, Lisanti Capital Growth LLC purchased a new position in shares of NewAmsterdam Pharma in the third quarter worth about $700,000. 89.89% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

NewAmsterdam Pharma Stock Down 0.1 %

NASDAQ:NAMS opened at $25.94 on Friday. The company has a 50-day moving average price of $22.67 and a 200-day moving average price of $19.41. NewAmsterdam Pharma has a 12 month low of $11.57 and a 12 month high of $27.29.

Insiders Place Their Bets

In other NewAmsterdam Pharma news, major shareholder Nap B.V. Forgrowth sold 8,530 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $25.02, for a total value of $213,420.60. Following the completion of the transaction, the insider now owns 11,812,033 shares in the company, valued at approximately $295,537,065.66. This represents a 0.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 446,730 shares of company stock worth $11,438,695 over the last three months. Company insiders own 19.50% of the company’s stock.

NewAmsterdam Pharma 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.