Michael Davidson Purchases 10,000 Shares of NewAmsterdam Pharma (NASDAQ:NAMS) Stock

NewAmsterdam Pharma Company N.V. (NASDAQ:NAMS) CEO Michael Davidson bought 10,000 shares of NewAmsterdam Pharma stock in a transaction that occurred on Monday, September 14th. The shares were bought at an average cost of $22.65 per share, with a total value of $226,500.00. Following the acquisition, the chief executive officer directly owned 792,923 shares in the company, valued at $17,959,705.95. This trade represents a 1.28% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website.

NewAmsterdam Pharma Trading Down 5.4%

NASDAQ NAMS traded down $1.20 on Tuesday, hitting $21.16. 1,729,021 shares of the company’s stock were exchanged, compared to its average volume of 1,074,888. The stock has a 50-day moving average of $28.35 and a 200-day moving average of $31.08. NewAmsterdam Pharma Company N.V. has a 52 week low of $21.08 and a 52 week high of $42.21. The stock has a market cap of $2.53 billion, a price-to-earnings ratio of -9.80 and a beta of 0.09.

NewAmsterdam Pharma (NASDAQ:NAMS) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.52) EPS 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 firm had revenue of $3.70 million during the quarter, compared to the consensus estimate of $2.83 million. As a group, analysts predict that NewAmsterdam Pharma Company N.V. will post -1.82 earnings per share for the current year.

Analyst Ratings Changes

Several analysts recently weighed in on NAMS shares. Jefferies Financial Group reiterated a “buy” rating and issued a $45.00 price target on shares of NewAmsterdam Pharma in a report on Monday, July 20th. Weiss Ratings reissued a “sell (d-)” rating on shares of NewAmsterdam Pharma in a research report on Friday, July 17th. Royal Bank Of Canada lowered their price objective on shares of NewAmsterdam Pharma from $51.00 to $50.00 and set an “outperform” rating on the stock in a research note on Thursday, August 6th. BMO Capital Markets began coverage on NewAmsterdam Pharma in a report on Monday, July 20th. They set an “outperform” rating and a $58.00 price target for the company. Finally, HC Wainwright restated a “buy” rating and set a $52.00 target price on shares of NewAmsterdam Pharma in a research report on Tuesday, September 8th. One 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 company’s stock. According to MarketBeat, NewAmsterdam Pharma currently has an average rating of “Moderate Buy” and an average target price of $49.73.

Institutional Investors Weigh In On NewAmsterdam Pharma

Institutional investors have recently added to or reduced their stakes in the stock. Frazier Life Sciences Management L.P. increased 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 purchasing an additional 1,145,128 shares in the last quarter. Castle Hook Partners LP acquired a new position in NewAmsterdam Pharma during the 4th quarter worth approximately $38,062,000. Bank of America Corp DE increased its position in shares of NewAmsterdam Pharma by 84.4% during the first quarter. Bank of America Corp DE now owns 847,089 shares of the company’s stock worth $27,115,000 after purchasing an additional 387,698 shares in the last quarter. Artia Global Partners LP grew its stake in shares of NewAmsterdam Pharma by 158.6% in the 4th quarter. Artia Global Partners LP now owns 503,936 shares of the company’s stock valued at $17,678,000 after purchasing an additional 309,098 shares during the last quarter. Finally, Maverick Capital Ltd. lifted its position in NewAmsterdam Pharma by 15.4% in the first quarter. Maverick Capital Ltd. now owns 2,186,402 shares of the company’s stock valued at $69,987,000 after purchasing an additional 292,176 shares during the period. Institutional investors and hedge funds own 89.89% of the company’s stock.

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.