State Street Corp Buys 23,805 Shares of NewAmsterdam Pharma (NASDAQ:NAMS)

State Street Corp raised its stake in shares of NewAmsterdam Pharma (NASDAQ:NAMS) by 168.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,915 shares of the company’s stock after acquiring an additional 23,805 shares during the period. State Street Corp’s holdings in NewAmsterdam Pharma were worth $629,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Quarry LP increased its position in shares of NewAmsterdam Pharma by 2,469.2% during the 3rd quarter. Quarry LP now owns 6,500 shares of the company’s stock valued at $108,000 after purchasing an additional 6,247 shares during the last quarter. Bellevue Group AG purchased a new position in NewAmsterdam Pharma in the third quarter valued at about $128,000. Wolverine Asset Management LLC grew its position in shares of NewAmsterdam Pharma by 117.7% during the 2nd quarter. Wolverine Asset Management LLC now owns 15,524 shares of the company’s stock valued at $298,000 after acquiring an additional 8,394 shares during the period. Sei Investments Co. increased its stake in shares of NewAmsterdam Pharma by 49.1% during the 2nd quarter. Sei Investments Co. now owns 24,561 shares of the company’s stock worth $472,000 after purchasing an additional 8,087 shares during the last quarter. Finally, Lisanti Capital Growth LLC purchased a new position in NewAmsterdam Pharma in the third quarter valued at approximately $700,000. 89.89% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NAMS has been the topic of several research reports. Piper Sandler restated an “overweight” rating and issued a $37.00 target price on shares of NewAmsterdam Pharma in a research note on Monday, September 23rd. Scotiabank boosted their price objective on NewAmsterdam Pharma from $35.00 to $47.00 and gave the company a “sector outperform” rating in a research note on Wednesday, December 11th. HC Wainwright assumed coverage on shares of NewAmsterdam Pharma in a research report on Monday, December 30th. They set a “buy” rating and a $48.00 target price for the company. Finally, Needham & Company LLC reissued a “buy” rating and issued a $36.00 price target on shares of NewAmsterdam Pharma in a research report on Thursday, December 5th. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $38.17.

NewAmsterdam Pharma Price Performance

Shares of NewAmsterdam Pharma stock opened at $25.94 on Friday. The company’s 50-day moving average price is $22.67 and its 200-day moving average price is $19.41. NewAmsterdam Pharma has a 12-month low of $11.57 and a 12-month high of $27.29.

Insiders Place Their Bets

In related news, major shareholder Nap B.V. Forgrowth sold 29,846 shares of the business’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $25.54, for a total transaction of $762,266.84. Following the completion of the transaction, the insider now directly owns 10,656,172 shares in the company, valued at $272,158,632.88. The trade was a 0.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 446,730 shares of company stock worth $11,438,695 in the last three months. 19.50% of the stock is currently owned by corporate insiders.

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.