NewAmsterdam Pharma (NASDAQ:NAMS) Shares Down 5.2% – Here’s Why

by · The Markets Daily

NewAmsterdam Pharma Company N.V. (NASDAQ:NAMS – Get Free Report) shares dropped 5.2% during trading on Friday. The stock traded as low as $22.98 and last traded at $22.9150. 469,005 shares were traded during trading, a decline of 59% from the average daily volume of 1,131,556 shares. The stock had previously closed at $24.16.

Analyst Ratings Changes

NAMS has been the subject of several research reports. BMO Capital Markets assumed coverage on NewAmsterdam Pharma in a report on Monday, July 20th. They issued an “outperform” rating and a $58.00 target price for the company. Weiss Ratings restated a “sell (d-)” rating on shares of NewAmsterdam Pharma in a report on Friday, July 17th. Royal Bank Of Canada dropped their target price on shares of NewAmsterdam Pharma from $51.00 to $50.00 and set an “outperform” rating on the stock in a report on Thursday, August 6th. HC Wainwright restated a “buy” rating and issued a $52.00 price target on shares of NewAmsterdam Pharma in a report on Tuesday, September 8th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $45.00 price target on shares of NewAmsterdam Pharma in a research report on Monday, July 20th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, NewAmsterdam Pharma has a consensus rating of “Moderate Buy” and a consensus price target of $49.73.

Get Our Latest Analysis on NAMS

NewAmsterdam Pharma Trading Down 5.5%

The stock has a market capitalization of $2.73 billion, a P/E ratio of -10.58 and a beta of 0.10. The company has a 50-day moving average price of $25.69 and a 200 day moving average price of $30.28.

NewAmsterdam Pharma (NASDAQ:NAMS – Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($0.52) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.04). NewAmsterdam Pharma had a negative net margin of 3,644.21% and a negative return on equity of 34.81%. The company had revenue of $3.70 million for the quarter, compared to the consensus estimate of $2.83 million. As a group, research analysts expect that NewAmsterdam Pharma Company N.V. will post -1.82 earnings per share for the current year.

Insider Activity

In related news, CAO Louise Kooij sold 105,000 shares of the business’s stock in a transaction that occurred on Monday, July 20th. The shares were sold at an average price of $30.34, for a total transaction of $3,185,700.00. Following the completion of the transaction, the chief accounting officer owned 24,353 shares in the company, valued at $738,870.02. The trade was a 81.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Michael H. Davidson bought 10,000 shares of the firm’s stock in a transaction that occurred on Monday, September 14th. The shares were purchased at an average cost of $22.65 per share, with a total value of $226,500.00. Following the transaction, the chief executive officer directly owned 792,923 shares of the company’s stock, valued at $17,959,705.95. The trade was a 1.28% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have sold a total of 231,600 shares of company stock valued at $6,589,962 over the last 90 days. 12.74% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On NewAmsterdam Pharma

A number of large investors have recently made changes to their positions in the business. KBC Group NV acquired a new stake in shares of NewAmsterdam Pharma in the 1st quarter worth $37,000. AdvisorNet Financial Inc purchased a new stake in NewAmsterdam Pharma in the first quarter valued at about $82,000. Seven Fleet Capital Management LP purchased a new stake in NewAmsterdam Pharma in the fourth quarter valued at about $140,000. PNC Financial Services Group Inc. boosted its holdings in NewAmsterdam Pharma by 147.7% in the first quarter. PNC Financial Services Group Inc. now owns 9,119 shares of the company’s stock worth $292,000 after acquiring an additional 5,437 shares in the last quarter. Finally, AlphaCentric Advisors LLC grew its stake in shares of NewAmsterdam Pharma by 6.7% during the first quarter. AlphaCentric Advisors LLC now owns 14,656 shares of the company’s stock worth $469,000 after acquiring an additional 925 shares during the last quarter. 89.89% of the stock is owned by institutional investors and hedge funds.

NewAmsterdam Pharma Company Profile

(Get Free Report)

NewAmsterdam Pharma is a clinical-stage biopharmaceutical company focused on developing therapies for cardiometabolic diseases, with an emphasis on improving the treatment of dyslipidemia and reducing cardiovascular risk. The company’s lead investigational product is obicetrapib, an oral cholesteryl ester transfer protein (CETP) inhibitor designed to lower low-density lipoprotein cholesterol and potentially address other lipid-related abnormalities.

Obicetrapib is being studied as an adjunct to existing lipid-lowering therapies, including in patients who have not achieved adequate cholesterol control and people with heterozygous familial hypercholesterolemia.

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