Short Interest in NewAmsterdam Pharma (NASDAQ:NAMS) Expands By 156.4%

NewAmsterdam Pharma (NASDAQ:NAMS) was the target of a significant increase in short interest in November. As of November 30th, there was short interest totalling 2,590,000 shares, an increase of 156.4% from the November 15th total of 1,010,000 shares. Based on an average daily trading volume, of 567,700 shares, the days-to-cover ratio is presently 4.6 days. Currently, 6.0% of the company’s stock are sold short.

NewAmsterdam Pharma Trading Down 1.9 %

Shares of NASDAQ:NAMS traded down $0.48 on Thursday, hitting $25.09. The company’s stock had a trading volume of 2,529,703 shares, compared to its average volume of 360,247. NewAmsterdam Pharma has a 12 month low of $9.61 and a 12 month high of $27.29. The stock’s 50-day moving average is $20.25 and its two-hundred day moving average is $18.63.

Insider Activity

In other NewAmsterdam Pharma news, major shareholder Nap B.V. Forgrowth sold 33,273 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $25.08, for a total value of $834,486.84. Following the transaction, the insider now directly owns 11,778,760 shares of the company’s stock, valued at $295,411,300.80. This represents a 0.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Louise Frederika Kooij sold 45,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $15.72, for a total transaction of $707,400.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 86,803 shares of company stock worth $1,755,307. 19.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On NewAmsterdam Pharma

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NAMS. Barclays PLC grew its stake 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 during the last quarter. Geode Capital Management LLC grew its position in NewAmsterdam Pharma by 1.6% in the third quarter. Geode Capital Management LLC now owns 86,322 shares of the company’s stock worth $1,433,000 after buying an additional 1,399 shares during the last quarter. M&T Bank Corp grew its position in NewAmsterdam Pharma by 54.1% in the third quarter. M&T Bank Corp now owns 27,328 shares of the company’s stock worth $454,000 after buying an additional 9,593 shares during the last quarter. Frazier Life Sciences Management L.P. boosted its stake in shares of NewAmsterdam Pharma by 5.1% during the 3rd quarter. Frazier Life Sciences Management L.P. now owns 12,855,194 shares of the company’s stock worth $213,396,000 after acquiring an additional 628,251 shares in the last quarter. Finally, XTX Topco Ltd acquired a new position in shares of NewAmsterdam Pharma in the 3rd quarter worth $187,000. 89.89% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $31.00 target price on shares of NewAmsterdam Pharma in a report on Thursday, September 5th. Scotiabank raised their price target on NewAmsterdam Pharma from $35.00 to $47.00 and gave the stock a “sector outperform” rating in a report on Wednesday. Needham & Company LLC restated a “buy” rating and set a $36.00 price objective on shares of NewAmsterdam Pharma in a research report on Thursday, December 5th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $37.00 target price on shares of NewAmsterdam Pharma in a research report on Monday, September 23rd. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, NewAmsterdam Pharma currently has an average rating of “Buy” and a consensus target price of $36.20.

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.