NewAmsterdam Pharma (NASDAQ:NAMS) Sees Unusually-High Trading Volume

Shares of NewAmsterdam Pharma (NASDAQ:NAMS) saw unusually-strong trading volume on Tuesday . Approximately 195,163 shares changed hands during trading, a decline of 19% from the previous session’s volume of 239,915 shares.The stock last traded at $22.48 and had previously closed at $22.46.

Analysts Set New Price Targets

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

NewAmsterdam Pharma Trading Down 0.1 %

The stock’s fifty day moving average price is $21.52 and its two-hundred day moving average price is $14.04.

Insider Buying and Selling at NewAmsterdam Pharma

In other NewAmsterdam Pharma news, Director Louis G. Lange bought 5,000 shares of NewAmsterdam Pharma stock in a transaction on Tuesday, February 13th. The shares were purchased at an average price of $19.00 per share, with a total value of $95,000.00. Following the acquisition, the director now owns 24,878 shares in the company, valued at approximately $472,682. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. In other NewAmsterdam Pharma news, Director Louis G. Lange purchased 5,000 shares of the stock in a transaction dated Tuesday, February 13th. The stock was bought at an average price of $19.00 per share, with a total value of $95,000.00. Following the acquisition, the director now owns 24,878 shares of the company’s stock, valued at $472,682. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Johannes Jacob Piete Kastelein sold 190,476 shares of the company’s stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $21.50, for a total value 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

Institutional investors have recently added to or reduced their stakes in the stock. Wolverine Asset Management LLC acquired a new position in shares of NewAmsterdam Pharma during the third quarter worth $27,000. Royal Bank of Canada boosted its position in NewAmsterdam Pharma by 987.5% during the 4th quarter. Royal Bank of Canada now owns 10,875 shares of the company’s stock worth $121,000 after buying an additional 9,875 shares during the period. Geode Capital Management LLC acquired a new position in NewAmsterdam Pharma in the 1st quarter valued at approximately $249,000. JPMorgan Chase & Co. raised its stake in shares of NewAmsterdam Pharma by 1,929.7% during the first quarter. JPMorgan Chase & Co. now owns 22,367 shares of the company’s stock valued at $301,000 after acquiring an additional 21,265 shares during the last quarter. Finally, Marshall Wace LLP acquired a new stake in NewAmsterdam Pharma in the second quarter valued at $302,000. 89.89% of the stock is currently owned by institutional investors and hedge funds.

NewAmsterdam Pharma Company Profile

NewAmsterdam Pharma Company N.V., a clinical-stage biopharmaceutical company, develops oral and non-statin medicines for patients at high risk of cardiovascular disease. Its lead product candidate is obicetrapib, a next generation, oral, and low-dose cholesteryl ester transfer protein (CETP) inhibitor, that is in four ongoing Phase 3 and Phase 2b clinical trials as both a monotherapy and a combination therapy with ezetimibe for lowering LDL-C and preventing major adverse cardiovascular events (MACE).