NewAmsterdam Pharma (NASDAQ:NAMS) Receives Average Rating of “Buy” from Analysts

Shares of NewAmsterdam Pharma (NASDAQ:NAMS) have been assigned a consensus recommendation of “Buy” from the six research firms that are currently covering the company, Marketbeat.com reports. Six research analysts have rated the stock with a buy recommendation. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $41.60.

Several research firms recently issued reports on NAMS. Scotiabank increased their price target on shares of NewAmsterdam Pharma from $35.00 to $47.00 and gave the stock a “sector outperform” rating in a report on Wednesday, December 11th. Royal Bank of Canada reissued an “outperform” rating and set a $40.00 target price on shares of NewAmsterdam Pharma in a research note on Friday. HC Wainwright restated a “buy” rating and issued a $48.00 price target on shares of NewAmsterdam Pharma in a research note on Tuesday, January 14th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $36.00 price objective on shares of NewAmsterdam Pharma in a research report on Thursday, December 5th.

Insider Buying and Selling

In other news, major shareholder Nap B.V. Forgrowth sold 33,273 shares of the 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 sale, the insider now directly owns 11,778,760 shares in the company, valued at $295,411,300.80. This represents a 0.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 446,730 shares of company stock worth $11,438,695 in the last quarter. Company insiders own 19.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. abrdn plc raised its holdings in NewAmsterdam Pharma by 38.7% in the 4th quarter. abrdn plc now owns 179,060 shares of the company’s stock valued at $4,602,000 after acquiring an additional 50,000 shares during the last quarter. Jennison Associates LLC increased its stake in NewAmsterdam Pharma by 291.9% in the fourth quarter. Jennison Associates LLC now owns 3,998,541 shares of the company’s stock valued at $102,763,000 after purchasing an additional 2,978,263 shares during the last quarter. China Universal Asset Management Co. Ltd. purchased a new position in NewAmsterdam Pharma during the fourth quarter worth about $503,000. HB Wealth Management LLC acquired a new stake in NewAmsterdam Pharma in the 4th quarter worth about $224,000. Finally, JPMorgan Chase & Co. grew its holdings in NewAmsterdam Pharma by 176.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 22,351 shares of the company’s stock valued at $371,000 after buying an additional 14,280 shares during the period. 89.89% of the stock is currently owned by hedge funds and other institutional investors.

NewAmsterdam Pharma Stock Performance

Shares of NewAmsterdam Pharma stock opened at $23.60 on Monday. NewAmsterdam Pharma has a one year low of $15.19 and a one year high of $27.29. The firm has a fifty day moving average of $23.55 and a two-hundred day moving average of $19.94.

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.