NewAmsterdam Pharma (NASDAQ:NAMS) Hits New 12-Month Low – Here’s Why

NewAmsterdam Pharma Company N.V. (NASDAQ:NAMS) reached a new 52-week low during trading on Wednesday . The company traded as low as $21.08 and last traded at $21.16, with a volume of 1732731 shares. The stock had previously closed at $22.36.

Analysts Set New Price Targets

NAMS has been the topic of a number of research analyst reports. Royal Bank Of Canada cut their price target 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. Jefferies Financial Group reaffirmed a “buy” rating and issued a $45.00 price objective on shares of NewAmsterdam Pharma in a research report on Monday, July 20th. BMO Capital Markets initiated coverage on shares of NewAmsterdam Pharma in a research note on Monday, July 20th. They issued an “outperform” rating and a $58.00 target price on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of NewAmsterdam Pharma in a research report on Friday, July 17th. Finally, HC Wainwright restated a “buy” rating and set a $52.00 price target on shares of NewAmsterdam Pharma in a research note on Tuesday, September 8th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.73.

NewAmsterdam Pharma Price Performance

The firm has a market capitalization of $2.62 billion, a PE ratio of -10.15 and a beta of 0.09. The company’s fifty day simple moving average is $27.46 and its 200 day simple moving average is $30.80.

NewAmsterdam Pharma (NASDAQ:NAMS) last posted its earnings results on Wednesday, August 5th. The company reported ($0.52) earnings per share for the quarter, missing the consensus estimate of ($0.48) by ($0.04). NewAmsterdam Pharma had a negative return on equity of 34.81% and a negative net margin of 3,644.21%.The business had revenue of $3.70 million during the quarter, compared to analysts’ expectations of $2.83 million. On average, analysts anticipate that NewAmsterdam Pharma Company N.V. will post -1.82 earnings per share for the current fiscal year.

Insider Buying and Selling at NewAmsterdam Pharma

In related news, CEO Michael H. Davidson bought 10,000 shares of the company’s stock in a transaction on Monday, September 14th. The shares were purchased at an average price of $22.65 per share, for a total transaction of $226,500.00. Following the completion of the transaction, the chief executive officer directly owned 792,923 shares in the company, valued at approximately $17,959,705.95. The trade was a 1.28% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director John W. Smither sold 1,600 shares of the firm’s stock in a transaction on Friday, September 4th. The stock was sold at an average price of $25.32, for a total value of $40,512.00. Following the completion of the transaction, the director directly owned 8,760 shares of the company’s stock, valued at $221,803.20. The trade was a 15.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 271,600 shares of company stock valued at $7,797,962 in the last quarter. Corporate insiders own 12.74% of the company’s stock.

Hedge Funds Weigh In On NewAmsterdam Pharma

Several hedge funds have recently made changes to their positions in NAMS. KBC Group NV purchased a new stake in NewAmsterdam Pharma during the 1st quarter worth about $37,000. AdvisorNet Financial Inc purchased a new position in NewAmsterdam Pharma during the 1st quarter valued at about $82,000. Seven Fleet Capital Management LP purchased a new position in NewAmsterdam Pharma during the 4th quarter valued at about $140,000. PNC Financial Services Group Inc. increased its position in shares of NewAmsterdam Pharma by 147.7% during the first quarter. PNC Financial Services Group Inc. now owns 9,119 shares of the company’s stock valued at $292,000 after buying an additional 5,437 shares during the period. Finally, AlphaCentric Advisors LLC increased its position 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 valued at $469,000 after buying an additional 925 shares during the period. 89.89% of the stock is currently owned by hedge funds and other institutional investors.

About NewAmsterdam Pharma

NewAmsterdam Pharma Company N.V. is a clinical-stage biopharmaceutical company focused on developing therapies for cardiometabolic diseases, particularly conditions involving elevated cholesterol and residual cardiovascular risk. The company’s lead product candidate is obicetrapib, an oral, low-dose cholesteryl ester transfer protein (CETP) inhibitor designed to reduce low-density lipoprotein cholesterol and improve other lipid parameters.

Obicetrapib has been evaluated in several clinical studies, including the Phase 3 BROADWAY trial, for patients whose cholesterol levels remain inadequately controlled despite the use of existing lipid-lowering treatments.