NewAmsterdam Pharma (NASDAQ:NAMS) Stock Jumps 5.8% – Here’s Why

NewAmsterdam Pharma Company N.V. (NASDAQ:NAMS) shares were up 5.8% during mid-day trading on Monday. The company traded as high as $23.74 and last traded at $23.8850. Approximately 708,318 shares were traded during mid-day trading, a decline of 37% from the average session volume of 1,118,843 shares. The stock had previously closed at $22.58.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. HC Wainwright reiterated a “buy” rating and issued a $52.00 price target on shares of NewAmsterdam Pharma in a research note on Tuesday, September 8th. Royal Bank Of Canada lowered their target price on shares of NewAmsterdam Pharma from $51.00 to $50.00 and set an “outperform” rating for the company in a report on Thursday, August 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NewAmsterdam Pharma in a research report on Friday, July 17th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $45.00 target price on shares of NewAmsterdam Pharma in a research report on Monday, July 20th. Finally, BMO Capital Markets started coverage on shares of NewAmsterdam Pharma in a research note on Monday, July 20th. They set an “outperform” rating and a $58.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.73.

NewAmsterdam Pharma Stock Up 1.0%

The stock has a market cap of $2.85 billion, a PE ratio of -11.02 and a beta of 0.09. The stock has a 50-day moving average of $25.96 and a 200 day moving average of $30.35.

NewAmsterdam Pharma (NASDAQ:NAMS) last issued its earnings results on Wednesday, August 5th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts’ expectations of $2.83 million. Research analysts forecast that NewAmsterdam Pharma Company N.V. will post -1.82 EPS for the current fiscal year.

Insiders Place Their Bets

In other NewAmsterdam Pharma news, CAO Louise Kooij sold 105,000 shares of NewAmsterdam Pharma stock in a transaction on Monday, July 20th. The stock was sold at an average price of $30.34, for a total value of $3,185,700.00. Following the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Johannes Kastelein sold 125,000 shares of the company’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $26.91, for a total value of $3,363,750.00. Following the completion of the transaction, the insider directly owned 69,302 shares in the company, valued at approximately $1,864,916.82. This trade represents a 64.33% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 231,600 shares of company stock valued at $6,589,962. 12.74% of the stock is currently owned by insiders.

Institutional Trading of NewAmsterdam Pharma

Institutional investors and hedge funds have recently bought and sold shares of the stock. Frazier Life Sciences Management L.P. boosted its position in shares of NewAmsterdam Pharma by 6.8% during the second quarter. Frazier Life Sciences Management L.P. now owns 18,088,902 shares of the company’s stock worth $613,033,000 after buying an additional 1,145,128 shares during the period. Castle Hook Partners LP acquired a new stake in shares of NewAmsterdam Pharma in the fourth quarter valued at $38,062,000. Bank of America Corp DE raised its holdings in shares of NewAmsterdam Pharma by 84.4% in the 1st quarter. Bank of America Corp DE now owns 847,089 shares of the company’s stock valued at $27,115,000 after buying an additional 387,698 shares during the period. Artia Global Partners LP boosted its holdings in NewAmsterdam Pharma by 158.6% during the 4th quarter. Artia Global Partners LP now owns 503,936 shares of the company’s stock valued at $17,678,000 after acquiring an additional 309,098 shares during the period. Finally, Maverick Capital Ltd. grew its position in NewAmsterdam Pharma by 15.4% in the 1st quarter. Maverick Capital Ltd. now owns 2,186,402 shares of the company’s stock valued at $69,987,000 after acquiring an additional 292,176 shares in the last quarter. 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.