NewAmsterdam Pharma (NASDAQ:NAMS) Trading Down 2.7% – Here’s What Happened

NewAmsterdam Pharma (NASDAQ:NAMS)’s stock price fell 2.7% during mid-day trading on Friday . The stock traded as low as $19.87 and last traded at $20.23. 43,704 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 295,765 shares. The stock had previously closed at $20.80.

Wall Street Analyst Weigh In

NAMS has been the subject of several research analyst reports. Piper Sandler reiterated an “overweight” rating and set a $37.00 target price on shares of NewAmsterdam Pharma in a research note on Monday, September 23rd. Royal Bank of Canada restated an “outperform” rating and set a $31.00 price objective on shares of NewAmsterdam Pharma in a research report on Thursday, September 5th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $36.00 price target on shares of NewAmsterdam Pharma in a research note on Thursday, November 21st. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $33.80.

NewAmsterdam Pharma Trading Down 5.8 %

The stock has a fifty day simple moving average of $19.37 and a two-hundred day simple moving average of $18.58.

Insider Buying and Selling

In related news, CAO Louise Frederika Kooij sold 45,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $15.72, for a total transaction of $707,400.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Nap B.V. Forgrowth sold 8,530 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were 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 directly 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 86,803 shares of company stock valued at $1,755,307 over the last ninety days. 19.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On NewAmsterdam Pharma

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Banque Cantonale Vaudoise purchased a new stake in shares of NewAmsterdam Pharma during the 2nd quarter valued at $38,000. Quarry LP lifted its stake in NewAmsterdam Pharma by 2,469.2% during the third quarter. Quarry LP now owns 6,500 shares of the company’s stock worth $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% in the 3rd quarter. Barclays PLC now owns 7,596 shares of the company’s stock worth $126,000 after purchasing an additional 7,199 shares in the last quarter. Bellevue Group AG bought a new position in shares of NewAmsterdam Pharma during the 3rd quarter valued at about $128,000. Finally, XTX Topco Ltd purchased a new position in shares of NewAmsterdam Pharma during the 3rd quarter valued at about $187,000. 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.