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

NewAmsterdam Pharma Company N.V. (NASDAQ:NAMS) hit a new 52-week low on Thursday. The company traded as low as $19.00 and last traded at $19.8040, with a volume of 221,006 shares changing hands. The stock had previously closed at $20.93.

More NewAmsterdam Pharma News

Here are the key news stories impacting NewAmsterdam Pharma this week:

• Positive Sentiment: The European Commission approved Ubeslo (obicetrapib monotherapy) and Evlarco (obicetrapib plus ezetimibe), the first regulatory approvals worldwide for obicetrapib. The approvals mark a key regulatory milestone and open the door to European commercialization. Company announcement
• Positive Sentiment: Third-quarter results beat expectations: the company reported a loss of $0.14 per share versus the consensus estimate of a $0.47 loss, while revenue of $19.16 million exceeded estimates of $8.82 million. Reports also noted that the net loss narrowed and revenue grew year over year. Q3 results report
• Positive Sentiment: Stifel said it continues to view NAMS’ setup as “very compelling and significantly upside-biased,” signaling a favorable analyst view of the company’s prospects. Stifel analyst comments
• Negative Sentiment: Despite the earnings beat, NewAmsterdam remains loss-making, so investors may continue to focus on its ability to turn regulatory progress into sales and reduce ongoing losses.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on NAMS. HC Wainwright reaffirmed a “buy” rating and issued a $52.00 price objective on shares of NewAmsterdam Pharma in a research note on Tuesday, September 8th. Wall Street Zen raised shares of NewAmsterdam Pharma from a “sell” rating to a “hold” rating in a research note on Sunday. BMO Capital Markets started coverage on shares of NewAmsterdam Pharma in a report on Monday, July 20th. They set an “outperform” rating and a $58.00 target price for the company. Royal Bank Of Canada decreased their price target on shares of NewAmsterdam Pharma from $50.00 to $42.00 and set an “outperform” rating on the stock in a research report on Monday, October 5th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $45.00 price target on shares of NewAmsterdam Pharma in a research report on Monday, July 20th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $48.90.

NewAmsterdam Pharma Price Performance

The firm has a market capitalization of $2.33 billion, a PE ratio of -9.08 and a beta of 0.15. The firm has a fifty day moving average price of $22.43 and a 200 day moving average price of $29.65.

NewAmsterdam Pharma (NASDAQ:NAMS) last issued its quarterly earnings results on Wednesday, November 4th. The company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.33. The firm had revenue of $19.16 million for the quarter, compared to analysts’ expectations of $8.82 million. NewAmsterdam Pharma had a negative return on equity of 34.81% and a negative net margin of 3,644.21%. On average, sell-side analysts expect that NewAmsterdam Pharma Company N.V. will post -1.82 EPS for the current year.

Insider Buying and Selling at NewAmsterdam Pharma

In other news, CEO Michael Davidson bought 10,000 shares of the firm’s stock in a transaction on Monday, September 14th. The stock was bought at an average cost of $22.65 per share, for a total transaction of $226,500.00. Following the completion of the acquisition, the chief executive officer directly owned 792,923 shares in the company, valued at $17,959,705.95. This represents a 1.28% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Johannes Kastelein sold 50,246 shares of NewAmsterdam Pharma stock in a transaction that occurred on Wednesday, September 30th. The stock was sold at an average price of $25.03, for a total transaction of $1,257,657.38. Following the completion of the transaction, the insider directly owned 69,302 shares in the company, valued at approximately $1,734,629.06. This trade represents a 42.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 176,846 shares of company stock valued at $4,661,919. 12.74% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On NewAmsterdam Pharma

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. KBC Group NV purchased a new position in NewAmsterdam Pharma during the 1st quarter worth approximately $37,000. Parallel Advisors LLC lifted its holdings in shares of NewAmsterdam Pharma by 43.7% in the third quarter. Parallel Advisors LLC now owns 2,012 shares of the company’s stock valued at $49,000 after purchasing an additional 612 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of NewAmsterdam Pharma in the third quarter worth $149,000. PNC Financial Services Group Inc. boosted its position in shares of 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 buying an additional 5,437 shares during the period. Finally, CenterBook Partners LP purchased a new position in shares of NewAmsterdam Pharma during the third quarter valued at $290,000. Institutional investors and hedge funds own 89.89% of the company’s stock.

About NewAmsterdam Pharma

NewAmsterdam Pharma (NASDAQ: NAMS) is a clinical-stage biopharmaceutical company focused on developing therapies for cardiometabolic diseases. The company’s primary investigational product is obicetrapib, an oral, low-dose cholesteryl ester transfer protein (CETP) inhibitor designed to reduce low-density lipoprotein cholesterol and potentially address residual cardiovascular risk in patients who remain inadequately controlled on existing treatments.

NewAmsterdam is evaluating obicetrapib in late-stage clinical studies involving patients with dyslipidemia, including individuals with heterozygous familial hypercholesterolemia and patients who are unable to reach cholesterol goals with currently available therapies.