NewAmsterdam Pharma (NASDAQ:NAMS – Get 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
About NewAmsterdam Pharma
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).
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