NewAmsterdam Pharma (NASDAQ:NAMS) Issues Quarterly Earnings Results, Misses Expectations By $0.23 EPS

NewAmsterdam Pharma (NASDAQ:NAMS) posted its quarterly earnings results on Wednesday. The company reported ($0.63) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.40) by ($0.23), FiscalAI reports. The business had revenue of $0.03 million during the quarter, compared to analyst estimates of $0.92 million. NewAmsterdam Pharma had a negative return on equity of 25.99% and a negative net margin of 906.22%.

NewAmsterdam Pharma Stock Performance

Shares of NASDAQ NAMS traded up $0.01 during mid-day trading on Friday, reaching $34.64. The company had a trading volume of 182,426 shares, compared to its average volume of 677,859. The company has a market capitalization of $3.93 billion, a price-to-earnings ratio of -20.12 and a beta of 0.06. The stock has a fifty day moving average of $34.00 and a two-hundred day moving average of $32.45. NewAmsterdam Pharma has a 12-month low of $14.06 and a 12-month high of $42.00.

Insider Activity at NewAmsterdam Pharma

In other NewAmsterdam Pharma news, insider Johannes Jacob Piete Kastelein sold 6,000 shares of the stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $33.25, for a total value of $199,500.00. Following the completion of the sale, the insider owned 73,481 shares in the company, valued at $2,443,243.25. This represents a 7.55% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Louise Frederika Kooij sold 75,117 shares of the business’s stock in a transaction on Tuesday, December 23rd. The shares were sold at an average price of $36.21, for a total transaction of $2,719,986.57. Following the transaction, the chief accounting officer owned 15,000 shares in the company, valued at approximately $543,150. This represents a 83.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 298,647 shares of company stock worth $10,236,050. Company insiders own 20.84% of the company’s stock.

Institutional Investors Weigh In On NewAmsterdam Pharma

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of NewAmsterdam Pharma during the 1st quarter valued at about $610,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in NewAmsterdam Pharma by 13.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 288,134 shares of the company’s stock valued at $5,898,000 after acquiring an additional 34,563 shares during the last quarter. Geode Capital Management LLC grew its position 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 acquiring an additional 13,629 shares in the last quarter. Legal & General Group Plc grew its position in NewAmsterdam Pharma by 33.5% in the second quarter. Legal & General Group Plc now owns 44,235 shares of the company’s stock worth $801,000 after acquiring an additional 11,106 shares in the last quarter. Finally, Invesco Ltd. increased its stake in shares of NewAmsterdam Pharma by 12.7% during the 2nd quarter. Invesco Ltd. now owns 134,035 shares of the company’s stock worth $2,427,000 after purchasing an additional 15,101 shares during the last quarter. 89.89% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on NAMS. Guggenheim raised their price objective on NewAmsterdam Pharma from $41.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday. Royal Bank Of Canada increased their price target on NewAmsterdam Pharma from $44.00 to $47.00 and gave the company an “outperform” rating in a research report on Wednesday, January 21st. Leerink Partners restated an “outperform” rating and set a $55.00 price objective on shares of NewAmsterdam Pharma in a report on Tuesday, January 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NewAmsterdam Pharma in a research note on Thursday, January 22nd. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of NewAmsterdam Pharma in a research report on Thursday. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, NewAmsterdam Pharma currently has an average rating of “Moderate Buy” and an average target price of $47.00.

About NewAmsterdam Pharma

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.