NewAmsterdam Pharma (NASDAQ:NAMS) Shares Gap Down – Time to Sell?

Shares of NewAmsterdam Pharma (NASDAQ:NAMS) gapped down prior to trading on Tuesday . The stock had previously closed at $22.61, but opened at $22.14. NewAmsterdam Pharma shares last traded at $22.27, with a volume of 21,886 shares changing hands.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on NAMS. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $40.00 price objective on shares of NewAmsterdam Pharma in a research note on Friday. Scotiabank raised 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 note on Wednesday, December 11th. HC Wainwright reaffirmed a “buy” rating and issued a $48.00 price objective on shares of NewAmsterdam Pharma in a research note on Tuesday, January 14th. Finally, Needham & Company LLC reissued a “buy” rating and set a $36.00 price target on shares of NewAmsterdam Pharma in a research report on Thursday, December 5th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, NewAmsterdam Pharma currently has a consensus rating of “Buy” and a consensus target price of $41.60.

NewAmsterdam Pharma Trading Down 3.4 %

The business’s 50-day moving average price is $23.51 and its two-hundred day moving average price is $19.94.

Insider Transactions at NewAmsterdam Pharma

In other NewAmsterdam Pharma news, major shareholder Nap B.V. Forgrowth sold 8,530 shares of NewAmsterdam Pharma stock in a transaction on Friday, November 15th. The shares were sold at an average price of $25.02, for a total value of $213,420.60. Following the sale, the insider now directly owns 11,812,033 shares in the company, valued at approximately $295,537,065.66. The trade was a 0.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 446,730 shares of company stock valued at $11,438,695 over the last three months. 19.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On NewAmsterdam Pharma

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC increased its stake in NewAmsterdam Pharma by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 86,322 shares of the company’s stock valued at $1,433,000 after buying an additional 1,399 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of NewAmsterdam Pharma in the 4th quarter valued at about $80,000. Quarry LP grew its position 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 valued at $108,000 after acquiring an additional 6,247 shares during the period. Barclays PLC grew its position in shares of NewAmsterdam Pharma by 1,813.4% in the 3rd quarter. Barclays PLC now owns 7,596 shares of the company’s stock valued at $126,000 after acquiring an additional 7,199 shares during the period. Finally, Bellevue Group AG bought a new position in shares of NewAmsterdam Pharma in the 3rd quarter valued at about $128,000. 89.89% of the stock is currently owned by institutional investors and hedge funds.

NewAmsterdam Pharma Company Profile

NewAmsterdam Pharma Company N.V., a 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.