NewAmsterdam Pharma (NASDAQ:NAMS) Shares Gap Down – Here’s What Happened

NewAmsterdam Pharma (NASDAQ:NAMS) gapped down prior to trading on Wednesday . The stock had previously closed at $26.61, but opened at $26.00. NewAmsterdam Pharma shares last traded at $26.71, with a volume of 88,008 shares traded.

Analyst Upgrades and Downgrades

NAMS has been the subject of several recent analyst reports. Royal Bank of Canada restated an “outperform” rating and set a $31.00 target price on shares of NewAmsterdam Pharma in a research report on Thursday, September 5th. Scotiabank upped their price objective on NewAmsterdam Pharma from $35.00 to $47.00 and gave the company a “sector outperform” rating in a research report on Wednesday, December 11th. Piper Sandler reiterated an “overweight” rating and set a $37.00 target price on shares of NewAmsterdam Pharma in a research report on Monday, September 23rd. Finally, Needham & Company LLC restated a “buy” rating and issued a $36.00 price target on shares of NewAmsterdam Pharma in a report on Thursday, December 5th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $36.20.

NewAmsterdam Pharma Price Performance

The company has a fifty day simple moving average of $21.16 and a two-hundred day simple moving average of $18.90.

Insiders Place Their Bets

In other NewAmsterdam Pharma news, CAO Louise Frederika Kooij sold 45,000 shares of NewAmsterdam Pharma stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $15.72, for a total value of $707,400.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Nap B.V. Forgrowth sold 8,530 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $25.02, for a total transaction of $213,420.60. Following the completion of the transaction, the insider now owns 11,812,033 shares of the company’s stock, valued at $295,537,065.66. This represents a 0.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 252,814 shares of company stock worth $5,970,327 in the last three months. Corporate insiders own 19.50% of the company’s stock.

Hedge Funds Weigh In On NewAmsterdam Pharma

Several institutional investors and hedge funds have recently bought and sold shares of NAMS. Banque Cantonale Vaudoise acquired a new stake in NewAmsterdam Pharma in the 2nd quarter worth approximately $38,000. Quarry LP lifted its stake in shares of NewAmsterdam Pharma by 2,469.2% during the third quarter. Quarry LP now owns 6,500 shares of the company’s stock worth $108,000 after buying an additional 6,247 shares during the period. Barclays PLC grew its holdings in shares of NewAmsterdam Pharma by 1,813.4% during the third quarter. Barclays PLC now owns 7,596 shares of the company’s stock valued at $126,000 after buying an additional 7,199 shares during the last quarter. Bellevue Group AG acquired a new position in shares of NewAmsterdam Pharma in the 3rd quarter valued at $128,000. Finally, XTX Topco Ltd purchased a new position in NewAmsterdam Pharma in the 3rd quarter worth $187,000. 89.89% of the stock is owned by hedge funds and other institutional investors.

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.