NewAmsterdam Pharma (NASDAQ:NAMSW) Trading Up 12.3% – Should You Buy?

NewAmsterdam Pharma (NASDAQ:NAMSW) shot up 12.3% during trading on Wednesday . The company traded as high as $20.07 and last traded at $20.43. 1,315 shares traded hands during trading, a decline of 27% from the average session volume of 1,797 shares. The stock had previously closed at $18.20.

NewAmsterdam Pharma Stock Up 12.3%

The firm’s 50 day moving average price is $21.58 and its two-hundred day moving average price is $22.72.

Hedge Funds Weigh In On NewAmsterdam Pharma

A hedge fund recently raised its stake in NewAmsterdam Pharma stock. Affinity Asset Advisors LLC raised its position in NewAmsterdam Pharma (NASDAQ:NAMSW) by 1.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 245,000 shares of the company’s stock after buying an additional 3,043 shares during the period. Affinity Asset Advisors LLC’s holdings in NewAmsterdam Pharma were worth $1,960,000 at the end of the most recent quarter.

About NewAmsterdam Pharma

NewAmsterdam Pharma, Inc is a clinical-stage biotechnology company focused on the development of orally delivered peptide therapeutics for the treatment of metabolic diseases. Drawing upon proprietary peptide chemistry and formulation technologies, the company aims to transform injectable treatments for conditions such as type 2 diabetes, obesity and related cardiometabolic disorders into convenient, once-daily oral medications. By harnessing advances in peptide stabilization and targeted delivery, NewAmsterdam Pharma seeks to improve patient adherence and expand access to novel therapies.

The company’s lead program is an oral glucagon‐like peptide‐1 (GLP-1) receptor agonist currently in early clinical trials.