NewAmsterdam Pharma (NASDAQ:NAMS) Shares Down 4.9% – What’s Next?

Shares of NewAmsterdam Pharma (NASDAQ:NAMS) dropped 4.9% on Thursday . The company traded as low as $22.53 and last traded at $22.82. Approximately 116,195 shares traded hands during trading, a decline of 78% from the average daily volume of 516,675 shares. The stock had previously closed at $24.00.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on NAMS. Needham & Company LLC restated a “buy” rating and issued a $36.00 target price on shares of NewAmsterdam Pharma in a research note on Thursday, December 5th. HC Wainwright reissued a “buy” rating and set a $48.00 price objective on shares of NewAmsterdam Pharma in a research report on Tuesday. Scotiabank upped their target price on shares of NewAmsterdam Pharma from $35.00 to $47.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, December 11th. Finally, Piper Sandler reissued an “overweight” rating and set a $37.00 price target on shares of NewAmsterdam Pharma in a research report on Monday, September 23rd. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, NewAmsterdam Pharma presently has a consensus rating of “Buy” and a consensus target price of $38.17.

NewAmsterdam Pharma Price Performance

The stock’s 50 day moving average is $23.68 and its 200-day moving average is $19.82.

Insider Activity

In other news, major shareholder Nap B.V. Forgrowth sold 33,273 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $25.08, for a total transaction of $834,486.84. Following the transaction, the insider now directly owns 11,778,760 shares of the company’s stock, valued at $295,411,300.80. This represents a 0.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have sold a total of 446,730 shares of company stock worth $11,438,695 over the last 90 days. 19.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On NewAmsterdam Pharma

A number of hedge funds have recently bought and sold shares of NAMS. Quarry LP raised its holdings in shares of NewAmsterdam Pharma by 2,469.2% during the third 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. Barclays PLC raised its stake in 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 last quarter. Bellevue Group AG bought a new position in shares of NewAmsterdam Pharma during the 3rd quarter valued at $128,000. XTX Topco Ltd bought a new position in shares of NewAmsterdam Pharma during the 3rd quarter valued at $187,000. Finally, HB Wealth Management LLC purchased a new position in shares of NewAmsterdam Pharma in the 4th quarter worth $224,000. 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.