NewAmsterdam Pharma (NASDAQ:NAMS) Announces Quarterly Earnings Results, Misses Expectations By $0.23 EPS
by Kim Johansen · The Markets DailyNewAmsterdam Pharma (NASDAQ:NAMS – Get Free Report) announced its quarterly earnings data on Wednesday. The company reported ($0.63) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.23), FiscalAI reports. NewAmsterdam Pharma had a negative return on equity of 28.30% and a negative net margin of 627.59%.The firm had revenue of $0.03 million for the quarter, compared to analyst estimates of $0.92 million.
NewAmsterdam Pharma Stock Down 3.3%
NewAmsterdam Pharma stock traded down $1.18 during midday trading on Thursday, hitting $34.58. 556,816 shares of the stock were exchanged, compared to its average volume of 679,159. NewAmsterdam Pharma has a 52-week low of $14.06 and a 52-week high of $42.00. The business’s 50-day moving average price is $34.03 and its 200-day moving average price is $32.43. The stock has a market capitalization of $3.92 billion, a price-to-earnings ratio of -16.87 and a beta of 0.06.
Insiders Place Their Bets
In related news, insider Johannes Jacob Piete Kastelein sold 6,000 shares of the business’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $33.25, for a total value of $199,500.00. Following the transaction, the insider directly owned 73,481 shares of the company’s stock, valued at approximately $2,443,243.25. The trade was a 7.55% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Louise Frederika Kooij sold 75,117 shares of the stock in a transaction on Tuesday, December 23rd. The shares were sold at an average price of $36.21, for a total value of $2,719,986.57. Following the transaction, the chief accounting officer directly owned 15,000 shares of the company’s stock, valued at approximately $543,150. This trade represents a 83.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 298,647 shares of company stock valued at $10,236,050 in the last 90 days. Corporate insiders own 20.84% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of NewAmsterdam Pharma in the 1st quarter worth about $610,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in NewAmsterdam Pharma by 13.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 288,134 shares of the company’s stock worth $5,898,000 after buying an additional 34,563 shares during the last quarter. Geode Capital Management LLC boosted its stake in NewAmsterdam Pharma by 15.9% in the second quarter. Geode Capital Management LLC now owns 99,457 shares of the company’s stock worth $1,800,000 after buying an additional 13,629 shares in the last quarter. Legal & General Group Plc grew its position in NewAmsterdam Pharma by 33.5% during the second quarter. Legal & General Group Plc now owns 44,235 shares of the company’s stock valued at $801,000 after acquiring an additional 11,106 shares during the last quarter. Finally, Invesco Ltd. raised its stake in shares of NewAmsterdam Pharma by 12.7% during the second quarter. Invesco Ltd. now owns 134,035 shares of the company’s stock worth $2,427,000 after acquiring an additional 15,101 shares in the last quarter. Institutional investors own 89.89% of the company’s stock.
Analyst Ratings Changes
NAMS has been the subject of several research reports. Needham & Company LLC increased their target price on NewAmsterdam Pharma from $46.00 to $48.00 and gave the company a “buy” rating in a research report on Wednesday. Leerink Partners reiterated an “outperform” rating and issued a $55.00 price objective on shares of NewAmsterdam Pharma in a report on Tuesday, January 6th. Royal Bank Of Canada lifted their target price on shares of NewAmsterdam Pharma from $44.00 to $47.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 21st. Weiss Ratings restated a “sell (d-)” rating on shares of NewAmsterdam Pharma in a research report on Thursday, January 22nd. Finally, The Goldman Sachs Group raised their price target on shares of NewAmsterdam Pharma from $30.00 to $37.00 and gave the company a “neutral” rating in a research note on Tuesday, December 2nd. Ten research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, NewAmsterdam Pharma has an average rating of “Moderate Buy” and an average price target of $47.00.
Get Our Latest Analysis on NAMS
NewAmsterdam Pharma Company Profile
NewAmsterdam Pharma, Inc is a clinical‐stage biopharmaceutical company focused on discovering and developing novel small‐molecule therapies for cardiometabolic diseases. The company’s research efforts are aimed at addressing key unmet needs in metabolic syndrome, obesity and type 2 diabetes by modulating pathways involved in glucose regulation, energy homeostasis and lipid metabolism.
The company’s development pipeline features multiple small‐molecule candidates at various stages of preclinical and clinical evaluation.
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