Needham & Company LLC Reaffirms Buy Rating for NewAmsterdam Pharma (NASDAQ:NAMS)

Needham & Company LLC reiterated their buy rating on shares of NewAmsterdam Pharma (NASDAQ:NAMS) in a research report report published on Thursday,Benzinga reports. The brokerage currently has a $36.00 price objective on the stock.

Several other equities research analysts also recently commented on the company. 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. Piper Sandler reaffirmed an “overweight” rating and set a $37.00 target price on shares of NewAmsterdam Pharma in a report on Monday, September 23rd. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $33.80.

NewAmsterdam Pharma Stock Down 1.1 %

Shares of NASDAQ NAMS opened at $18.07 on Thursday. NewAmsterdam Pharma has a 12 month low of $8.90 and a 12 month high of $26.35. The business has a fifty day simple moving average of $19.83 and a 200-day simple moving average of $18.56.

Insider Buying and Selling

In other NewAmsterdam Pharma news, major shareholder Nap B.V. Forgrowth sold 8,530 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $25.02, for a total value of $213,420.60. Following the transaction, the insider now directly owns 11,812,033 shares of the company’s stock, valued at $295,537,065.66. This represents a 0.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Louise Frederika Kooij sold 45,000 shares of the company’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $15.72, for a total value of $707,400.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 86,803 shares of company stock valued at $1,755,307. Corporate insiders own 19.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Banque Cantonale Vaudoise acquired a new position in NewAmsterdam Pharma in the 2nd quarter worth about $38,000. Quarry LP increased its position in NewAmsterdam Pharma by 2,469.2% in the 3rd 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 increased its position in 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 during the last quarter. Bellevue Group AG acquired a new position in NewAmsterdam Pharma in the 3rd quarter worth about $128,000. Finally, XTX Topco Ltd acquired a new position in shares of NewAmsterdam Pharma during the 3rd quarter valued at about $187,000. 89.89% of the stock is owned by institutional investors and hedge funds.

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.