NewAmsterdam Pharma (NASDAQ:NAMS) Reaches New 52-Week Low on Insider Selling

NewAmsterdam Pharma Company N.V. (NASDAQ:NAMS) hit a new 52-week low during trading on Thursday after an insider sold shares in the company. The stock traded as low as $22.34 and last traded at $22.79, with a volume of 2317943 shares changing hands. The stock had previously closed at $25.63.

Specifically, Director John W. Smither sold 1,600 shares of the stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $25.32, for a total transaction of $40,512.00. Following the completion of the transaction, the director directly owned 8,760 shares in the company, valued at $221,803.20. This represents a 15.44% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on NAMS shares. HC Wainwright reaffirmed a “buy” rating and issued a $52.00 target price on shares of NewAmsterdam Pharma in a research report on Tuesday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NewAmsterdam Pharma in a research report on Friday, July 17th. BMO Capital Markets started coverage on NewAmsterdam Pharma in a report on Monday, July 20th. They issued an “outperform” rating and a $58.00 price objective for the company. Jefferies Financial Group restated a “buy” rating and set a $45.00 target price on shares of NewAmsterdam Pharma in a report on Monday, July 20th. Finally, Royal Bank Of Canada dropped their price target on shares of NewAmsterdam Pharma from $51.00 to $50.00 and set an “outperform” rating on the stock in a research report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $49.73.

NewAmsterdam Pharma Trading Up 4.3%

The company has a market capitalization of $2.73 billion, a P/E ratio of -10.56 and a beta of 0.09. The company has a 50 day moving average price of $28.60 and a 200 day moving average price of $31.22.

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

Hedge Funds Weigh In On NewAmsterdam Pharma

Several large investors have recently modified their holdings of the stock. California State Teachers Retirement System lifted its holdings in NewAmsterdam Pharma by 4,105.5% during the 2nd quarter. California State Teachers Retirement System now owns 2,284,796 shares of the company’s stock worth $77,432,000 after purchasing an additional 2,230,467 shares during the last quarter. Frazier Life Sciences Management L.P. grew its holdings in NewAmsterdam Pharma by 6.8% in the 2nd quarter. Frazier Life Sciences Management L.P. now owns 18,088,902 shares of the company’s stock valued at $613,033,000 after buying an additional 1,145,128 shares in the last quarter. Duquesne Family Office LLC grew its holdings in NewAmsterdam Pharma by 131.2% in the 3rd quarter. Duquesne Family Office LLC now owns 1,923,700 shares of the company’s stock valued at $54,710,000 after buying an additional 1,091,525 shares in the last quarter. Castle Hook Partners LP bought a new position in NewAmsterdam Pharma during the 4th quarter worth $38,062,000. Finally, Adage Capital Partners GP L.L.C. increased its position in NewAmsterdam Pharma by 54.5% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 3,013,009 shares of the company’s stock worth $54,566,000 after buying an additional 1,062,359 shares during the period. 89.89% of the stock is owned by institutional investors.

NewAmsterdam Pharma Company Profile

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.