NewAmsterdam Pharma (NASDAQ:NAMS) Shares Gap Down – Here’s What Happened

NewAmsterdam Pharma (NASDAQ:NAMS) shares gapped down before the market opened on Wednesday . The stock had previously closed at $26.61, but opened at $26.00. NewAmsterdam Pharma shares last traded at $26.71, with a volume of 88,008 shares trading hands.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on NAMS. Piper Sandler reiterated an “overweight” rating and issued a $37.00 target price on shares of NewAmsterdam Pharma in a research report on Monday, September 23rd. Needham & Company LLC restated a “buy” rating and issued a $36.00 price objective on shares of NewAmsterdam Pharma in a report on Thursday, December 5th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $31.00 target price on shares of NewAmsterdam Pharma in a report on Thursday, September 5th. Finally, Scotiabank lifted their price objective on shares of NewAmsterdam Pharma from $35.00 to $47.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, December 11th. Six analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $36.20.

NewAmsterdam Pharma Stock Up 0.5 %

The firm’s 50-day moving average price is $20.84 and its two-hundred day moving average price is $18.81.

Insider Buying and Selling at NewAmsterdam Pharma

In other news, major shareholder Nap B.V. Forgrowth sold 33,273 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 11,778,760 shares in the company, valued at $295,411,300.80. The trade was a 0.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Louise Frederika Kooij sold 45,000 shares of the business’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $15.72, for a total transaction of $707,400.00. The disclosure for this sale can be found here. Insiders sold 252,814 shares of company stock valued at $5,970,327 in the last quarter. Company insiders own 19.50% of the company’s stock.

Institutional Trading of NewAmsterdam Pharma

A number of hedge funds have recently bought and sold shares of NAMS. Geode Capital Management LLC raised its stake in NewAmsterdam Pharma by 1.6% during the third quarter. Geode Capital Management LLC now owns 86,322 shares of the company’s stock worth $1,433,000 after acquiring an additional 1,399 shares in the last quarter. Banque Cantonale Vaudoise bought a new stake in NewAmsterdam Pharma during the 2nd quarter worth about $38,000. Quarry LP grew its stake 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 increased its holdings in shares of NewAmsterdam Pharma by 1,813.4% in the third quarter. Barclays PLC now owns 7,596 shares of the company’s stock valued at $126,000 after purchasing an additional 7,199 shares in the last quarter. Finally, Bellevue Group AG bought a new position in NewAmsterdam Pharma in the 3rd quarter worth approximately $128,000. 89.89% of the stock is 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.