NewAmsterdam Pharma Receives Outperform Rating from Royal Bank of Canada

NewAmsterdam Pharma (NASDAQ:NAMS) has attracted positive attention from analysts recently. On Friday morning, the Royal Bank of Canada reaffirmed their 'outperform' rating for NewAmsterdam Pharma in a research report. They have also set a price target of $40.00 for the stock, indicating their optimistic outlook on its future performance.

NewAmsterdam Pharma has gained recognition from several other financial institutions as well. Scotiabank, for instance, raised their target price for the company from $35.00 to $47.00 and has classified it with a 'sector outperform' rating in a report published on December 11th. Also, Needham & Company LLC reiterated a 'buy' rating and set a price objective of $36.00 for NewAmsterdam shares in a note on December 5th. Additionally, HC Wainwright maintained a 'buy' rating while establishing a target price of $48.00 for the stock on January 14th.

As per MarketBeat.com, there are currently six investment analysts who have rated NewAmsterdam Pharma as a 'buy'. The consensus rating across the board is classified as 'Buy', and the average target price stands at $41.60.

NewAmsterdam Pharma Price Performance Analysis

As of Friday, shares of NewAmsterdam Pharma opened at $23.60. Over recent periods, the company’s stock has shown a 50-day simple moving average of $23.55 and a 200-day simple moving average of $19.93. The stock reached a 12-month low of $15.19, while its 12-month high was recorded at $27.29.

Insider Trading Activities

In related news, major shareholder Nap B.V. Forgrowth divested 100,728 shares of NewAmsterdam Pharma on December 18th at an average price of $26.10, amounting to a total transaction value of approximately $2.63 million. Following this sale, the shareholder still retains ownership of 10,908,502 shares valued at around $284.71 million. This transaction reflects a 0.91% decrease in their total holdings. Furthermore, insiders have sold a total of 446,730 shares valued at $11.44 million in the last quarter, with insiders currently holding about 19.50% of the company’s shares.

Recent Changes in Institutional Holdings

Numerous hedge funds have recently adjusted their positions in NewAmsterdam Pharma. Quarry LP significantly increased its position by 2,469.2% in the third quarter, obtaining 6,500 shares valued at $108,000 after acquiring an additional 6,247 shares. Barclays PLC saw a similar increase of 1,813.4% and now holds 7,596 shares valued at $126,000 after adding 7,199 shares. Furthermore, Bellevue Group AG, XTX Topco Ltd, and HB Wealth Management LLC have also acquired new stakes in NewAmsterdam Pharma, signifying growing institutional interest in the company. Overall, institutional investors now own approximately 89.89% of the company's stock.

About NewAmsterdam Pharma

NewAmsterdam Pharma Company N.V. is a late-stage biopharmaceutical firm focused on developing innovative therapies for patients with metabolic diseases. One of their key products in development is obicetrapib, an oral low-dose cholesteryl ester transfer protein (CETP) inhibitor. This therapy is currently being evaluated in various clinical trials both as a standalone treatment and in combination with ezetimibe to reduce LDL-C levels and improve cardiovascular health.

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