NewAmsterdam Pharma (NASDAQ:NAMS) Sees Large Volume Increase – What’s Next?

NewAmsterdam Pharma Company N.V. (NASDAQ:NAMS) saw unusually-strong trading volume on Monday . Approximately 2,875,315 shares were traded during trading, an increase of 162% from the previous session’s volume of 1,098,026 shares.The stock last traded at $21.7510 and had previously closed at $22.49.

Wall Street Analyst Weigh In

NAMS has been the subject of several research analyst reports. Jefferies Financial Group reiterated a “buy” rating and issued a $45.00 price objective on shares of NewAmsterdam Pharma in a report on Monday, July 20th. BMO Capital Markets initiated coverage on shares of NewAmsterdam Pharma in a research report on Monday, July 20th. They issued an “outperform” rating and a $58.00 target price for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of NewAmsterdam Pharma in a research report on Friday, July 17th. HC Wainwright restated a “buy” rating and issued a $52.00 price objective on shares of NewAmsterdam Pharma in a report on Tuesday, September 8th. Finally, Royal Bank Of Canada cut their price objective on 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 equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $49.73.

NewAmsterdam Pharma Price Performance

The firm has a market cap of $2.62 billion, a P/E ratio of -10.13 and a beta of 0.09. The firm’s 50 day moving average is $27.20 and its 200 day moving average is $30.73.

NewAmsterdam Pharma (NASDAQ:NAMS) last released 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). The business had revenue of $3.70 million for the quarter, compared to analysts’ expectations of $2.83 million. NewAmsterdam Pharma had a negative net margin of 3,644.21% and a negative return on equity of 34.81%. As a group, analysts expect that NewAmsterdam Pharma Company N.V. will post -1.82 EPS for the current year.

Insider Buying and Selling

In other news, CEO Michael H. Davidson purchased 10,000 shares of the company’s stock in a transaction that occurred on Monday, September 14th. The shares were bought at an average price of $22.65 per share, for a total transaction of $226,500.00. Following the purchase, the chief executive officer directly owned 792,923 shares in the company, valued at approximately $17,959,705.95. This trade represents a 1.28% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Louise Kooij sold 105,000 shares of the stock in a transaction dated Monday, July 20th. The shares were sold at an average price of $30.34, for a total transaction of $3,185,700.00. Following the sale, the chief accounting officer directly owned 24,353 shares in the company, valued at $738,870.02. This trade represents a 81.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 231,600 shares of company stock valued at $6,589,962. Insiders own 12.74% of the company’s stock.

Institutional Investors Weigh In On NewAmsterdam Pharma

Several institutional investors and hedge funds have recently made changes to their positions in the company. Engineers Gate Manager LP purchased a new position in shares of NewAmsterdam Pharma during the 2nd quarter worth $662,000. Squarepoint Ops LLC raised its holdings in NewAmsterdam Pharma by 113.9% in the 2nd quarter. Squarepoint Ops LLC now owns 92,026 shares of the company’s stock worth $3,119,000 after purchasing an additional 49,005 shares during the period. Arizona State Retirement System lifted its position in NewAmsterdam Pharma by 34.6% during the second quarter. Arizona State Retirement System now owns 16,656 shares of the company’s stock valued at $564,000 after purchasing an additional 4,281 shares in the last quarter. Frazier Life Sciences Management L.P. lifted its position in 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 valued at $613,033,000 after purchasing an additional 1,145,128 shares in the last quarter. Finally, Bank of America Corp DE grew its holdings in NewAmsterdam Pharma by 84.4% during the first quarter. Bank of America Corp DE now owns 847,089 shares of the company’s stock valued at $27,115,000 after purchasing an additional 387,698 shares during the period. Institutional investors 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.