Short Interest in NewAmsterdam Pharma (NASDAQ:NAMS) Drops By 44.0%

NewAmsterdam Pharma (NASDAQ:NAMSGet Free Report) saw a significant drop in short interest in the month of January. As of January 31st, there was short interest totalling 272,500 shares, a drop of 44.0% from the January 15th total of 486,200 shares. Based on an average trading volume of 153,500 shares, the days-to-cover ratio is presently 1.8 days. Currently, 0.8% of the shares of the stock are sold short.

NewAmsterdam Pharma Stock Performance

Shares of NewAmsterdam Pharma stock traded up $0.32 during trading on Monday, reaching $20.77. 161,785 shares of the stock were exchanged, compared to its average volume of 236,317. The stock’s fifty day moving average is $15.19 and its 200 day moving average is $11.54. NewAmsterdam Pharma has a 1 year low of $5.63 and a 1 year high of $26.35.

Institutional Trading of NewAmsterdam Pharma

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Alyeska Investment Group L.P. purchased a new stake in NewAmsterdam Pharma in the fourth quarter worth about $1,892,000. Schonfeld Strategic Advisors LLC purchased a new position in NewAmsterdam Pharma during the first quarter valued at $399,000. Geode Capital Management LLC purchased a new position in NewAmsterdam Pharma during the first quarter valued at $249,000. JPMorgan Chase & Co. lifted its position in NewAmsterdam Pharma by 1,929.7% during the first quarter. JPMorgan Chase & Co. now owns 22,367 shares of the company’s stock valued at $301,000 after buying an additional 21,265 shares during the period. Finally, Maven Securities LTD purchased a new position in NewAmsterdam Pharma during the second quarter valued at $297,000. Hedge funds and other institutional investors own 96.46% of the company’s stock.

Wall Street Analyst Weigh In

NAMS has been the topic of several recent research reports. Guggenheim started coverage on NewAmsterdam Pharma in a research report on Thursday, January 18th. They set a “buy” rating and a $30.00 price objective on the stock. Royal Bank of Canada began coverage on NewAmsterdam Pharma in a research note on Monday, October 30th. They issued an “outperform” rating and a $25.00 target price for the company. William Blair restated an “outperform” rating on shares of NewAmsterdam Pharma in a research report on Wednesday, November 22nd. Finally, Piper Sandler initiated coverage on shares of NewAmsterdam Pharma in a research report on Tuesday, January 16th. They set an “overweight” rating and a $37.00 price target for the company. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $28.50.

Read Our Latest Stock Report on NAMS

About NewAmsterdam Pharma

(Get Free Report)

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).

Featured Articles

Receive News & Ratings for NewAmsterdam Pharma Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NewAmsterdam Pharma and related companies with MarketBeat.com's FREE daily email newsletter.