NewAmsterdam Pharma (NASDAQ:NAMS) Shares Gap Up to $20.05

NewAmsterdam Pharma (NASDAQ:NAMS) gapped up before the market opened on Thursday . The stock had previously closed at $20.05, but opened at $21.14. NewAmsterdam Pharma shares last traded at $20.34, with a volume of 27,516 shares trading hands.

Analyst Upgrades and Downgrades

NAMS has been the topic of a number of recent research reports. Piper Sandler initiated coverage on shares of NewAmsterdam Pharma in a research note on Tuesday, January 16th. They set an “overweight” rating and a $37.00 price objective on the stock. Guggenheim initiated coverage on shares of NewAmsterdam Pharma in a research note on Thursday, January 18th. They set a “buy” rating and a $30.00 price objective on the stock. Scotiabank initiated coverage on shares of NewAmsterdam Pharma in a research note on Thursday, March 14th. They set a “sector outperform” rating and a $35.00 price objective on the stock. Finally, Royal Bank of Canada increased their price objective on shares of NewAmsterdam Pharma from $25.00 to $31.00 and gave the company an “outperform” rating in a research note on Thursday, February 29th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $33.25.

NewAmsterdam Pharma Stock Performance

The stock’s 50-day moving average is $21.49 and its 200 day moving average is $15.31.

Insider Activity at NewAmsterdam Pharma

In other news, Director James N. Topper bought 8,429 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The stock was bought at an average price of $21.50 per share, with a total value of $181,223.50. Following the completion of the transaction, the director now directly owns 3,008,429 shares of the company’s stock, valued at approximately $64,681,223.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other NewAmsterdam Pharma news, insider Johannes Jacob Piete Kastelein sold 190,476 shares of the firm’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $21.50, for a total value of $4,095,234.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director James N. Topper purchased 8,429 shares of the firm’s stock in a transaction on Tuesday, March 26th. The stock was bought at an average cost of $21.50 per share, with a total value of $181,223.50. Following the acquisition, the director now owns 3,008,429 shares of the company’s stock, valued at approximately $64,681,223.50. The disclosure for this purchase can be found here. 2.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Wolverine Asset Management LLC purchased a new position in shares of NewAmsterdam Pharma during the third quarter worth $27,000. Royal Bank of Canada raised its holdings in shares of NewAmsterdam Pharma by 987.5% during the fourth quarter. Royal Bank of Canada now owns 10,875 shares of the company’s stock worth $121,000 after purchasing an additional 9,875 shares during the last quarter. Geode Capital Management LLC purchased a new position in shares of NewAmsterdam Pharma during the first quarter worth $249,000. JPMorgan Chase & Co. raised its holdings in shares of NewAmsterdam Pharma by 1,929.7% during the first quarter. JPMorgan Chase & Co. now owns 22,367 shares of the company’s stock worth $301,000 after purchasing an additional 21,265 shares during the last quarter. Finally, Yarbrough Capital LLC purchased a new position in shares of NewAmsterdam Pharma during the first quarter worth $567,000. Hedge funds and other 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.