NewAmsterdam Pharma (NASDAQ:NAMS) Stock Price Up 3.4% – Time to Buy?

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

Wall Street Analyst Weigh In

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

NewAmsterdam Pharma Stock Up 1.9 %

The stock has a market capitalization of $2.64 billion, a P/E ratio of -9.26 and a beta of -0.04. The stock has a 50 day simple moving average of $21.82 and a two-hundred day simple moving average of $20.90.

NewAmsterdam Pharma (NASDAQ:NAMS) last issued its earnings results on Wednesday, February 26th. The company reported ($0.95) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.47). The company had revenue of $12.77 million for the quarter, compared to analyst estimates of $3.30 million. Sell-side analysts predict that NewAmsterdam Pharma will post -1.75 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder Nap B.V. Forgrowth sold 49,772 shares of the stock in a transaction on Friday, December 20th. The stock was sold at an average price of $25.60, for a total value of $1,274,163.20. Following the sale, the insider now owns 10,802,224 shares in the company, valued at approximately $276,536,934.40. This represents a 0.46 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Louise Frederika Kooij sold 150,000 shares of the firm’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $20.37, for a total value of $3,055,500.00. Following the sale, the chief accounting officer now directly owns 15,000 shares of the company’s stock, valued at $305,550. This represents a 90.91 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 288,188 shares of company stock valued at $6,602,267. 19.50% of the stock is owned by company insiders.

Institutional Trading of NewAmsterdam Pharma

Several hedge funds and other institutional investors have recently modified their holdings of NAMS. GF Fund Management CO. LTD. acquired a new stake in NewAmsterdam Pharma during the fourth quarter worth approximately $50,000. National Bank of Canada FI bought a new stake in NewAmsterdam Pharma in the 4th quarter valued at $51,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in NewAmsterdam Pharma in the 4th quarter valued at $80,000. Quarry LP grew its holdings in NewAmsterdam Pharma by 2,469.2% in the 3rd quarter. Quarry LP now owns 6,500 shares of the company’s stock valued at $108,000 after buying an additional 6,247 shares in the last quarter. Finally, Barclays PLC increased its position in NewAmsterdam Pharma by 1,813.4% during the 3rd quarter. Barclays PLC now owns 7,596 shares of the company’s stock worth $126,000 after buying an additional 7,199 shares during the period. Institutional investors own 89.89% of the company’s stock.

About NewAmsterdam Pharma

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.