NewAmsterdam Pharma (NASDAQ:NAMS) Sees Strong Trading Volume After Insider Buying Activity

NewAmsterdam Pharma (NASDAQ:NAMS) shares saw an uptick in trading volume on Thursday after an insider bought additional shares in the company. 1,197,625 shares were traded during trading, an increase of 162% from the previous session’s volume of 457,044 shares.The stock last traded at $23.28 and had previously closed at $23.02.

Specifically, Director James N. Topper acquired 4,005 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The shares were acquired at an average cost of $21.02 per share, for a total transaction of $84,185.10. Following the completion of the purchase, the director now directly owns 3,012,434 shares in the company, valued at $63,321,362.68. This trade represents a 0.13 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on NAMS shares. Needham & Company LLC cut their price objective on shares of NewAmsterdam Pharma from $46.00 to $42.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Royal Bank of Canada restated an “outperform” rating and set a $40.00 price objective on shares of NewAmsterdam Pharma in a research note on Friday, January 24th. Scotiabank lifted their price objective on shares of NewAmsterdam Pharma from $47.00 to $52.00 and gave the company a “sector outperform” rating in a research note on Thursday, February 27th. Finally, HC Wainwright restated a “buy” rating and set a $48.00 price objective on shares of NewAmsterdam Pharma in a research note on Tuesday, January 14th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $43.80.

NewAmsterdam Pharma Stock Up 1.3 %

The firm’s 50-day simple moving average is $22.24 and its 200 day simple moving average is $20.43. The stock has a market capitalization of $2.20 billion, a P/E ratio of -9.15 and a beta of -0.04.

NewAmsterdam Pharma (NASDAQ:NAMS) last issued its quarterly earnings results on Wednesday, February 26th. The company reported ($0.95) EPS for the quarter, missing the consensus estimate of ($0.48) by ($0.47). The business had revenue of $12.77 million for the quarter, compared to analysts’ expectations of $3.30 million. As a group, equities analysts anticipate that NewAmsterdam Pharma will post -1.75 EPS for the current fiscal year.

Institutional Investors Weigh In On NewAmsterdam Pharma

Hedge funds and other institutional investors have recently bought and sold shares of the business. GF Fund Management CO. LTD. purchased a new position in NewAmsterdam Pharma in the 4th quarter worth about $50,000. National Bank of Canada FI purchased a new position in NewAmsterdam Pharma in the 4th quarter worth about $51,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in NewAmsterdam Pharma in the 4th quarter worth about $80,000. KLP Kapitalforvaltning AS purchased a new position in NewAmsterdam Pharma in the 4th quarter worth about $154,000. Finally, Quarry LP increased its stake in NewAmsterdam Pharma by 2,469.2% in the 3rd quarter. Quarry LP now owns 6,500 shares of the company’s stock worth $108,000 after purchasing an additional 6,247 shares in the last quarter. 89.89% of the stock is currently owned by institutional investors.

NewAmsterdam Pharma Company Profile

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.