NewAmsterdam Pharma (NASDAQ:NAMS) Earns “Buy” Rating from Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of NewAmsterdam Pharma (NASDAQ:NAMS) in a research report sent to investors on Thursday morning,Benzinga reports. Needham & Company LLC currently has a $36.00 target price on the stock.

A number of other analysts also recently issued reports on NAMS. Piper Sandler reissued an “overweight” rating and issued a $37.00 target price on shares of NewAmsterdam Pharma in a research report on Monday, September 23rd. Royal Bank of Canada reiterated an “outperform” rating and issued a $31.00 target price on shares of NewAmsterdam Pharma in a research note on Thursday, September 5th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $33.80.

NewAmsterdam Pharma Price Performance

Shares of NASDAQ:NAMS opened at $20.20 on Thursday. The company’s 50-day moving average is $19.07 and its 200 day moving average is $18.57. NewAmsterdam Pharma has a fifty-two week low of $8.90 and a fifty-two week high of $26.35.

Insider Buying and Selling at NewAmsterdam Pharma

In other news, major shareholder Nap B.V. Forgrowth sold 33,273 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $25.08, for a total value of $834,486.84. Following the transaction, the insider now owns 11,778,760 shares of the company’s stock, valued at $295,411,300.80. This represents a 0.28 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, 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 disclosure for this sale can be found here. Insiders sold 86,803 shares of company stock valued at $1,755,307 in the last quarter. 19.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Banque Cantonale Vaudoise bought a new stake in shares of NewAmsterdam Pharma in the 2nd quarter worth approximately $38,000. Quarry LP raised its position in 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 buying an additional 6,247 shares during the last quarter. Barclays PLC lifted 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 valued at $126,000 after buying an additional 7,199 shares during the period. Bellevue Group AG purchased a new position in NewAmsterdam Pharma in the third quarter worth about $128,000. Finally, XTX Topco Ltd purchased a new position in shares of NewAmsterdam Pharma during the 3rd quarter worth $187,000. Hedge funds and other institutional investors own 89.89% of the company’s stock.

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.