NewAmsterdam Pharma (NASDAQ:NAMS) Shares Up 2.6%

NewAmsterdam Pharma (NASDAQ:NAMS) shot up 2.6% on Tuesday . The stock traded as high as $20.26 and last traded at $20.26. 16,167 shares traded hands during trading, a decline of 93% from the average session volume of 232,322 shares. The stock had previously closed at $19.74.

Analysts Set New Price Targets

Several research firms have weighed in on NAMS. Scotiabank began coverage on NewAmsterdam Pharma in a research note on Thursday, March 14th. They set a “sector outperform” rating and a $35.00 target price for the company. Piper Sandler started coverage on shares of NewAmsterdam Pharma in a report on Tuesday, January 16th. They set an “overweight” rating and a $37.00 price target for the company. Guggenheim started coverage on shares of NewAmsterdam Pharma in a report on Thursday, January 18th. They set a “buy” rating and a $30.00 price target for the company. Finally, Royal Bank of Canada upped their price target on shares of NewAmsterdam Pharma from $25.00 to $31.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, NewAmsterdam Pharma presently has a consensus rating of “Buy” and an average target price of $33.25.

NewAmsterdam Pharma Trading Up 0.1 %

The stock has a fifty day simple moving average of $21.53 and a two-hundred day simple moving average of $15.09.

Insiders Place Their Bets

In other NewAmsterdam Pharma news, Director James N. Topper purchased 8,429 shares of the firm’s stock in a transaction on Tuesday, March 26th. The stock was purchased at an average cost of $21.50 per share, for a total transaction of $181,223.50. Following the acquisition, the director now owns 3,008,429 shares in the company, valued at approximately $64,681,223.50. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. In other NewAmsterdam Pharma news, Director James N. Topper purchased 8,429 shares of the firm’s stock in a transaction on Tuesday, March 26th. The stock was purchased at an average cost of $21.50 per share, for a total transaction of $181,223.50. Following the acquisition, the director now owns 3,008,429 shares in the company, valued at approximately $64,681,223.50. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Johannes Jacob Piete Kastelein sold 190,476 shares of the stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $21.50, for a total transaction of $4,095,234.00. The disclosure for this sale can be found here. Company insiders own 2.50% of the company’s stock.

Hedge Funds Weigh In On NewAmsterdam Pharma

A number of institutional investors and hedge funds have recently made changes to their positions in NAMS. Fcpm Iii Services B.V. bought a new position in NewAmsterdam Pharma in the 4th quarter valued at about $132,157,000. Goldman Sachs Group Inc. bought a new position in NewAmsterdam Pharma in the 4th quarter valued at about $15,463,000. Opaleye Management Inc. bought a new position in NewAmsterdam Pharma in the 4th quarter valued at about $2,964,000. Alyeska Investment Group L.P. bought a new position in NewAmsterdam Pharma in the 4th quarter valued at about $1,892,000. Finally, Parkman Healthcare Partners LLC lifted its position in NewAmsterdam Pharma by 20.8% in the 4th quarter. Parkman Healthcare Partners LLC now owns 300,750 shares of the company’s stock valued at $3,359,000 after acquiring an additional 51,726 shares in the last quarter. Institutional investors own 89.89% of the company’s stock.

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.