NewAmsterdam Pharma (NASDAQ:NAMS) Given Buy Rating at Needham & Company LLC

Needham & Company LLC reaffirmed 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 price objective on the stock.

Other research analysts also recently issued reports about the stock. Piper Sandler reaffirmed 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 reaffirmed an “outperform” rating and set a $31.00 price objective on shares of NewAmsterdam Pharma in a report on Thursday, September 5th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $33.80.

NewAmsterdam Pharma Stock Up 0.4 %

Shares of NAMS opened at $20.20 on Thursday. NewAmsterdam Pharma has a 52-week low of $8.90 and a 52-week high of $26.35. The stock has a 50 day moving average price of $19.07 and a 200 day moving average price of $18.59.

Insiders Place Their Bets

In other NewAmsterdam Pharma news, CAO Louise Frederika Kooij sold 45,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $15.72, for a total transaction of $707,400.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Nap B.V. Forgrowth sold 8,530 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $295,537,065.66. This represents a 0.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 86,803 shares of company stock valued at $1,755,307. Insiders own 19.50% of the company’s stock.

Hedge Funds Weigh In On NewAmsterdam Pharma

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Artal Group S.A. acquired a new stake in shares of NewAmsterdam Pharma in the 1st quarter worth $18,920,000. Janus Henderson Group PLC acquired a new position in shares of NewAmsterdam Pharma during the first quarter worth about $15,018,000. Frazier Life Sciences Management L.P. lifted its position in NewAmsterdam Pharma by 5.1% in the third quarter. Frazier Life Sciences Management L.P. now owns 12,855,194 shares of the company’s stock valued at $213,396,000 after purchasing an additional 628,251 shares during the period. Decheng Capital LLC purchased a new stake in NewAmsterdam Pharma in the 2nd quarter valued at approximately $7,684,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in NewAmsterdam Pharma by 1,231.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 239,283 shares of the company’s stock worth $3,972,000 after purchasing an additional 221,305 shares during the period. 89.89% of the stock is currently owned by hedge funds and other 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.