NewAmsterdam Pharma (NASDAQ:NAMS) Shares Gap Down to $22.57

NewAmsterdam Pharma (NASDAQ:NAMS)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $22.57, but opened at $21.70. NewAmsterdam Pharma shares last traded at $22.13, with a volume of 48,168 shares trading hands.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Scotiabank initiated coverage on shares of NewAmsterdam Pharma in a report on Thursday, March 14th. They issued a “sector outperform” rating and a $35.00 price target for the company. Royal Bank of Canada upped their price target on NewAmsterdam Pharma from $25.00 to $31.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. Piper Sandler assumed coverage on NewAmsterdam Pharma in a research note on Tuesday, January 16th. They issued an “overweight” rating and a $37.00 price objective for the company. Finally, Guggenheim started coverage on NewAmsterdam Pharma in a research report on Thursday, January 18th. They set a “buy” rating and a $30.00 target price on the stock. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $33.25.

NewAmsterdam Pharma Stock Down 3.3 %

The business has a 50 day moving average price of $21.64 and a two-hundred day moving average price of $16.28.

Insider Activity

In related news, Director Louis G. Lange purchased 5,000 shares of NewAmsterdam Pharma stock in a transaction that occurred on Tuesday, February 13th. The stock was bought at an average price of $19.00 per share, for a total transaction of $95,000.00. Following the completion of the transaction, the director now owns 24,878 shares in the company, valued at $472,682. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director James N. Topper acquired 8,429 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The stock was bought at an average price of $21.50 per share, with a total value 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Louis G. Lange acquired 5,000 shares of the stock in a transaction that occurred on Tuesday, February 13th. The stock was purchased at an average price of $19.00 per share, for a total transaction of $95,000.00. Following the completion of the purchase, the director now directly owns 24,878 shares in the company, valued at approximately $472,682. The disclosure for this purchase can be found here. Insiders own 2.50% of the company’s stock.

Hedge Funds Weigh In On NewAmsterdam Pharma

Several large investors have recently modified their holdings of the business. Wolverine Asset Management LLC bought a new position in NewAmsterdam Pharma in the 3rd quarter worth approximately $27,000. Schonfeld Strategic Advisors LLC boosted its holdings in shares of NewAmsterdam Pharma by 12.9% in the third quarter. Schonfeld Strategic Advisors LLC now owns 64,700 shares of the company’s stock worth $598,000 after acquiring an additional 7,400 shares during the period. Yarbrough Capital LLC purchased a new position in shares of NewAmsterdam Pharma in the first quarter valued at $567,000. Affinity Asset Advisors LLC raised its stake in shares of NewAmsterdam Pharma by 25.0% during the 3rd quarter. Affinity Asset Advisors LLC now owns 125,000 shares of the company’s stock valued at $1,156,000 after purchasing an additional 25,000 shares during the period. Finally, Parkman Healthcare Partners LLC lifted its holdings in NewAmsterdam Pharma by 20.8% during the 4th quarter. Parkman Healthcare Partners LLC now owns 300,750 shares of the company’s stock worth $3,359,000 after purchasing an additional 51,726 shares in the last quarter. Hedge funds and other 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.