NewAmsterdam Pharma (NASDAQ:NAMS) Trading 3.4% Higher – Time to Buy?

NewAmsterdam Pharma (NASDAQ:NAMS) shot up 3.4% during mid-day trading on Thursday . The stock traded as high as $24.47 and last traded at $24.42. 85,505 shares changed hands during trading, a decline of 83% from the average session volume of 499,608 shares. The stock had previously closed at $23.61.

Analyst Ratings Changes

A number of analysts have commented on NAMS shares. HC Wainwright reiterated a “buy” rating and issued a $48.00 price objective on shares of NewAmsterdam Pharma in a report on Tuesday, January 14th. Scotiabank increased their price target on NewAmsterdam Pharma from $47.00 to $52.00 and gave the company a “sector outperform” rating in a report on Thursday, February 27th. Royal Bank of Canada reiterated an “outperform” rating and set a $40.00 price objective on shares of NewAmsterdam Pharma in a research report on Friday, January 24th. Needham & Company LLC dropped their target price on NewAmsterdam Pharma from $46.00 to $42.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Finally, UBS Group set a $41.00 target price on NewAmsterdam Pharma in a research note on Monday, March 3rd. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $43.33.

NewAmsterdam Pharma Price Performance

The stock has a market capitalization of $2.62 billion, a price-to-earnings ratio of -9.18 and a beta of -0.04. The business has a fifty day moving average of $21.77 and a 200 day moving average of $20.97.

NewAmsterdam Pharma (NASDAQ:NAMS) last posted its earnings results on Wednesday, February 26th. The company reported ($0.95) EPS for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.47). The business had revenue of $12.77 million during the quarter, compared to the consensus estimate of $3.30 million. On average, equities research analysts expect that NewAmsterdam Pharma will post -1.75 EPS for the current year.

Insider Activity at NewAmsterdam Pharma

In related news, major shareholder Nap B.V. Forgrowth sold 25,132 shares of the stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $25.49, for a total transaction of $640,614.68. Following the completion of the transaction, the insider now owns 10,777,092 shares of the company’s stock, valued at approximately $274,708,075.08. This trade represents a 0.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director James N. Topper bought 4,005 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The stock was bought at an average price of $21.02 per share, with a total value of $84,185.10. Following the acquisition, the director now directly owns 3,012,434 shares in the company, valued at $63,321,362.68. The trade was a 0.13 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 238,416 shares of company stock worth $5,328,104. Company insiders own 19.50% of the company’s stock.

Institutional Investors Weigh In On NewAmsterdam Pharma

Institutional investors have recently modified their holdings of the company. Jennison Associates LLC boosted its holdings in NewAmsterdam Pharma by 8.9% in the third quarter. Jennison Associates LLC now owns 1,020,278 shares of the company’s stock valued at $16,937,000 after purchasing an additional 83,115 shares during the period. FMR LLC raised its position in NewAmsterdam Pharma by 35.6% in the 3rd quarter. FMR LLC now owns 330,412 shares of the company’s stock valued at $5,485,000 after purchasing an additional 86,712 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of NewAmsterdam Pharma by 1,231.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 239,283 shares of the company’s stock valued at $3,972,000 after buying an additional 221,305 shares during the period. Walleye Capital LLC acquired a new position in shares of NewAmsterdam Pharma during the third quarter worth about $779,000. Finally, Bellevue Group AG purchased a new stake in shares of NewAmsterdam Pharma during the third quarter worth approximately $128,000. 89.89% of the stock is owned by institutional investors and hedge funds.

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.