NewAmsterdam Pharma (NASDAQ:NAMS) Stock Price Expected to Rise, Scotiabank Analyst Says

NewAmsterdam Pharma (NASDAQ:NAMS) had its price objective hoisted by Scotiabank from $35.00 to $47.00 in a research note released on Wednesday morning,Benzinga reports. Scotiabank currently has a sector outperform rating on the stock.

Several other analysts have also commented on NAMS. Piper Sandler reaffirmed an “overweight” rating and set a $37.00 target price on shares of NewAmsterdam Pharma in a report on Monday, September 23rd. Needham & Company LLC reiterated a “buy” rating and issued a $36.00 target price on shares of NewAmsterdam Pharma in a research note on Thursday, December 5th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $31.00 price objective on shares of NewAmsterdam Pharma in a report on Thursday, September 5th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, NewAmsterdam Pharma currently has a consensus rating of “Buy” and an average price target of $36.20.

NewAmsterdam Pharma Price Performance

Shares of NAMS stock opened at $24.69 on Wednesday. NewAmsterdam Pharma has a fifty-two week low of $9.72 and a fifty-two week high of $27.29. The stock’s 50-day simple moving average is $20.53 and its 200-day simple moving average is $18.72.

Insider Buying and Selling at NewAmsterdam Pharma

In related news, major shareholder Nap B.V. Forgrowth sold 33,273 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $25.08, for a total transaction of $834,486.84. Following the completion of the sale, the insider now owns 11,778,760 shares of the company’s stock, valued at approximately $295,411,300.80. This represents a 0.28 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Louise Frederika Kooij sold 45,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $15.72, for a total transaction of $707,400.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 86,803 shares of company stock worth $1,755,307. Corporate insiders own 19.50% of the company’s stock.

Institutional Investors Weigh In On NewAmsterdam Pharma

A number of large investors have recently made changes to their positions in NAMS. Banque Cantonale Vaudoise purchased a new position in NewAmsterdam Pharma during the second quarter worth approximately $38,000. Quarry LP increased its stake in shares of NewAmsterdam Pharma by 2,469.2% in the 3rd quarter. Quarry LP now owns 6,500 shares of the company’s stock worth $108,000 after acquiring an additional 6,247 shares during the last quarter. Barclays PLC raised its holdings in shares of NewAmsterdam Pharma by 1,813.4% during the 3rd quarter. Barclays PLC now owns 7,596 shares of the company’s stock worth $126,000 after acquiring an additional 7,199 shares during the period. Bellevue Group AG acquired a new position in shares of NewAmsterdam Pharma during the 3rd quarter valued at about $128,000. Finally, XTX Topco Ltd purchased a new stake in shares of NewAmsterdam Pharma in the third quarter valued at about $187,000. 89.89% of the stock is currently 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.