NewAmsterdam Pharma (NASDAQ:NAMS) Shares Up 2.6%

NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report)'s share price traded up 2.6% on Tuesday . The stock traded as high as $20.26 and last traded at $20.26. 16,167 shares traded hands during trading, a decline of 93% from the average session volume of 232,322 shares. The stock had previously closed at $19.74.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Scotiabank initiated coverage on NewAmsterdam Pharma in a report on Thursday, March 14th. They set a "sector outperform" rating and a $35.00 price target for the company. Piper Sandler assumed coverage on shares of NewAmsterdam Pharma in a research report on Tuesday, January 16th. They set an "overweight" rating and a $37.00 price objective for the company. Guggenheim started coverage on shares of NewAmsterdam Pharma in a report on Thursday, January 18th. They issued a "buy" rating and a $30.00 price objective on the stock. Finally, Royal Bank of Canada raised their target price on shares of NewAmsterdam Pharma from $25.00 to $31.00 and gave the stock an "outperform" rating in a research note on Thursday, February 29th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, NewAmsterdam Pharma has a consensus rating of "Buy" and a consensus price target of $33.25.

NewAmsterdam Pharma Stock Performance

The stock has a 50-day moving average of $21.53 and a 200-day moving average of $15.09.

Insider Transactions at NewAmsterdam Pharma

In other news, Director James N. Topper acquired 8,429 shares of the stock in a transaction on Tuesday, March 26th. The stock was acquired at an average cost of $21.50 per share, for a total transaction of $181,223.50. Following the completion of the transaction, the director now directly owns 3,008,429 shares in the company, valued at $64,681,223.50. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director James N. Topper acquired 8,429 shares of the stock in a transaction dated Tuesday, March 26th. The stock was bought at an average price of $21.50 per share, with a total value of $181,223.50. Following the completion of the purchase, the director now directly owns 3,008,429 shares of the company's stock, valued at approximately $64,681,223.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Johannes Jacob Piete Kastelein sold 190,476 shares of the firm's stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $21.50, for a total transaction of $4,095,234.00. The disclosure for this sale can be found here. 2.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On NewAmsterdam Pharma

Large investors have recently modified their holdings of the company. Fcpm Iii Services B.V. bought a new position in NewAmsterdam Pharma during the 4th quarter valued at $132,157,000. Goldman Sachs Group Inc. purchased a new stake in shares of NewAmsterdam Pharma in the fourth quarter valued at about $15,463,000. Opaleye Management Inc. purchased a new position in NewAmsterdam Pharma during the fourth quarter worth about $2,964,000. Alyeska Investment Group L.P. purchased a new stake in NewAmsterdam Pharma in the 4th quarter valued at about $1,892,000. Finally, Parkman Healthcare Partners LLC grew its position in NewAmsterdam Pharma by 20.8% during the fourth quarter. Parkman Healthcare Partners LLC now owns 300,750 shares of the company's stock valued at $3,359,000 after buying an additional 51,726 shares during the period. 89.89% of the stock is currently owned by institutional investors.

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.