Royal Bank of Canada Reiterates Outperform Rating for NewAmsterdam Pharma (NASDAQ:NAMS)

NewAmsterdam Pharma (NASDAQ:NAMS)‘s stock had its “outperform” rating reissued by Royal Bank of Canada in a research report issued to clients and investors on Friday,Benzinga reports. They currently have a $40.00 target price on the stock. Royal Bank of Canada’s price objective suggests a potential upside of 69.10% from the company’s previous close.

NAMS has been the topic of a number of other reports. HC Wainwright reaffirmed a “buy” rating and set a $48.00 price target on shares of NewAmsterdam Pharma in a research report on Tuesday, January 14th. Needham & Company LLC reiterated a “buy” rating and issued a $36.00 price target on shares of NewAmsterdam Pharma in a research report on Thursday, December 5th. Finally, Scotiabank boosted their price target on NewAmsterdam Pharma from $35.00 to $47.00 and gave the company a “sector outperform” rating in a research note on Wednesday, December 11th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $41.60.

NewAmsterdam Pharma Stock Performance

NASDAQ NAMS traded up $0.45 on Friday, reaching $23.65. The stock had a trading volume of 333,522 shares, compared to its average volume of 575,675. The firm has a fifty day moving average of $23.58 and a two-hundred day moving average of $19.91. NewAmsterdam Pharma has a 1-year low of $15.19 and a 1-year high of $27.29.

Insider Activity

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Quarry LP lifted its stake in 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 purchasing an additional 6,247 shares during the last quarter. Barclays PLC boosted its holdings in shares of 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 acquiring an additional 7,199 shares in the last quarter. Bellevue Group AG bought a new stake in NewAmsterdam Pharma during the 3rd quarter worth $128,000. XTX Topco Ltd acquired a new position in NewAmsterdam Pharma in the 3rd quarter worth about $187,000. Finally, HB Wealth Management LLC bought a new position in NewAmsterdam Pharma in the fourth quarter valued at about $224,000. Institutional investors own 89.89% of the company’s stock.

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.