NewAmsterdam Pharma (NASDAQ:NAMS) Receives “Outperform” Rating from Royal Bank of Canada

Royal Bank of Canada reissued their outperform rating on shares of NewAmsterdam Pharma (NASDAQ:NAMS) in a research note released on Friday,Benzinga reports. The brokerage currently has a $40.00 price objective on the stock.

Several other research firms have also recently commented on NAMS. Scotiabank boosted their price objective on shares of NewAmsterdam Pharma from $35.00 to $47.00 and gave the company a “sector outperform” rating in a research report on Wednesday, December 11th. Needham & Company LLC restated a “buy” rating and set a $36.00 price objective on shares of NewAmsterdam Pharma in a research report on Thursday, December 5th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $48.00 target price on shares of NewAmsterdam Pharma in a research note on Tuesday, January 14th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, NewAmsterdam Pharma presently has a consensus rating of “Buy” and a consensus price target of $41.60.

NewAmsterdam Pharma Trading Up 1.7 %

Shares of NASDAQ:NAMS opened at $23.60 on Friday. The firm’s 50 day simple moving average is $23.55 and its 200 day simple moving average is $19.94. NewAmsterdam Pharma has a fifty-two week low of $15.19 and a fifty-two week high of $27.29.

Insider Activity

In other NewAmsterdam Pharma news, major shareholder Nap B.V. Forgrowth sold 166,011 shares of the firm’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $25.39, for a total value of $4,215,019.29. Following the transaction, the insider now directly owns 11,150,461 shares of the company’s stock, valued at approximately $283,110,204.79. This trade represents a 1.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 446,730 shares of company stock worth $11,438,695 over the last quarter. 19.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On NewAmsterdam Pharma

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