Insider Buying: NewAmsterdam Pharma (NASDAQ:NAMS) Director Acquires 8,429 Shares of Stock

NewAmsterdam Pharma (NASDAQ:NAMS) Director James N. Topper purchased 8,429 shares of the firm’s stock in a transaction on Tuesday, March 26th. The shares were purchased at an average price of $21.50 per share, with a total value of $181,223.50. Following the completion of the acquisition, the director now directly owns 3,008,429 shares of the company’s stock, valued at $64,681,223.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

NewAmsterdam Pharma Stock Performance

Shares of NAMS traded up $0.95 on Thursday, reaching $23.65. 292,386 shares of the stock traded hands, compared to its average volume of 240,993. NewAmsterdam Pharma has a 12 month low of $5.63 and a 12 month high of $26.35. The stock’s 50-day moving average price is $21.52 and its 200-day moving average price is $14.04.

Hedge Funds Weigh In On NewAmsterdam Pharma

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Fcpm Iii Services B.V. acquired a new position in NewAmsterdam Pharma in the fourth quarter worth $132,157,000. Goldman Sachs Group Inc. acquired a new position in shares of NewAmsterdam Pharma during the fourth quarter valued at $15,463,000. Opaleye Management Inc. acquired a new position in shares of NewAmsterdam Pharma during the fourth quarter valued at $2,964,000. Parkman Healthcare Partners LLC lifted its stake in shares of NewAmsterdam Pharma by 20.8% during the fourth quarter. Parkman Healthcare Partners LLC now owns 300,750 shares of the company’s stock valued at $3,359,000 after acquiring an additional 51,726 shares during the period. Finally, Royal Bank of Canada lifted its stake 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 valued at $121,000 after acquiring an additional 9,875 shares during the period. Institutional investors and hedge funds own 89.89% of the company’s stock.

Analyst Ratings Changes

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

NewAmsterdam Pharma Company Profile

NewAmsterdam Pharma Company N.V., a clinical-stage biopharmaceutical company, develops oral and non-statin medicines for patients at high risk of cardiovascular disease. Its lead product candidate is obicetrapib, a next generation, oral, and low-dose cholesteryl ester transfer protein (CETP) inhibitor, that is in four ongoing Phase 3 and Phase 2b clinical trials as both a monotherapy and a combination therapy with ezetimibe for lowering LDL-C and preventing major adverse cardiovascular events (MACE).