NewAmsterdam Pharma (NASDAQ:NAMS) Shares Down 8.5% – Time to Sell?

NewAmsterdam Pharma (NASDAQ:NAMS)’s share price fell 8.5% on Monday . The company traded as low as $19.78 and last traded at $19.91. 826,478 shares traded hands during trading, an increase of 55% from the average session volume of 533,847 shares. The stock had previously closed at $21.76.

Wall Street Analyst Weigh In

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

NewAmsterdam Pharma Stock Performance

The firm has a market cap of $2.25 billion, a price-to-earnings ratio of -7.87 and a beta of -0.04. The business has a fifty day simple moving average of $21.66 and a 200-day simple moving average of $21.27.

NewAmsterdam Pharma (NASDAQ:NAMS) last released its quarterly earnings data on Wednesday, February 26th. The company reported ($0.95) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.48) by ($0.47). The firm had revenue of $12.77 million during the quarter, compared to the consensus estimate of $3.30 million. On average, equities analysts anticipate that NewAmsterdam Pharma will post -1.75 earnings per share for the current year.

Insider Activity

In related news, Director James N. Topper bought 1,135 shares of the stock in a transaction that occurred on Wednesday, March 26th. The stock was acquired at an average cost of $22.49 per share, with a total value of $25,526.15. Following the transaction, the director now directly owns 3,013,569 shares in the company, valued at approximately $67,775,166.81. This trade represents a 0.04 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Louise Frederika Kooij sold 150,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief accounting officer now owns 15,000 shares in the company, valued at $305,550. This trade represents a 90.91 % decrease in their position. The disclosure for this sale can be found here. Insiders own 19.50% of the company’s stock.

Institutional Trading of NewAmsterdam Pharma

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

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.