NewAmsterdam Pharma (NASDAQ:NAMS) Sees Strong Trading Volume – Here’s Why

NewAmsterdam Pharma Company N.V. (NASDAQ:NAMS) saw unusually-strong trading volume on Monday . 2,875,315 shares were traded during mid-day 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.

Analyst Ratings Changes

Several research firms recently commented on NAMS. Weiss Ratings restated a “sell (d-)” rating on shares of NewAmsterdam Pharma in a research report on Friday, July 17th. Jefferies Financial Group reiterated a “buy” rating and set a $45.00 price target on shares of NewAmsterdam Pharma in a research report on Monday, July 20th. HC Wainwright reissued a “buy” rating and set a $52.00 price objective on shares of NewAmsterdam Pharma in a report on Tuesday, September 8th. BMO Capital Markets started coverage on shares of NewAmsterdam Pharma in a research report on Monday, July 20th. They issued an “outperform” rating and a $58.00 price objective on the stock. Finally, Royal Bank Of Canada lowered their target price 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. One investment 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 stock. According to MarketBeat.com, NewAmsterdam Pharma has an average rating of “Moderate Buy” and a consensus price target of $49.73.

NewAmsterdam Pharma Stock Performance

The company has a market cap of $2.62 billion, a P/E ratio of -10.13 and a beta of 0.09. The stock has a 50-day moving average of $27.20 and a two-hundred day moving average of $30.73.

NewAmsterdam Pharma (NASDAQ:NAMS) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($0.52) 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 return on equity of 34.81% and a negative net margin of 3,644.21%. As a group, sell-side analysts forecast that NewAmsterdam Pharma Company N.V. will post -1.82 EPS for the current fiscal year.

Insider Buying and Selling at NewAmsterdam Pharma

In other NewAmsterdam Pharma news, CAO Louise Kooij sold 105,000 shares of the company’s 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 completion of the sale, the chief accounting officer directly owned 24,353 shares in the company, valued at $738,870.02. This represents a 81.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director John W. Smither sold 1,600 shares of the firm’s stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $25.32, for a total value of $40,512.00. Following the transaction, the director directly owned 8,760 shares in the company, valued at $221,803.20. This trade represents a 15.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 231,600 shares of company stock valued at $6,589,962. Company insiders own 12.74% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Frazier Life Sciences Management L.P. raised its holdings in NewAmsterdam Pharma by 6.8% during 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 during the last quarter. Capital World Investors increased its position in shares of NewAmsterdam Pharma by 1.6% in the fourth quarter. Capital World Investors now owns 9,984,000 shares of the company’s stock valued at $350,239,000 after acquiring an additional 161,289 shares during the period. Maverick Capital Ltd. raised its stake in shares of NewAmsterdam Pharma by 15.4% during the first quarter. Maverick Capital Ltd. now owns 2,186,402 shares of the company’s stock valued at $69,987,000 after acquiring an additional 292,176 shares during the last quarter. Castle Hook Partners LP bought a new position in shares of NewAmsterdam Pharma during the fourth quarter valued at about $38,062,000. Finally, First Turn Management LLC boosted its holdings in shares of NewAmsterdam Pharma by 24.6% during the fourth quarter. First Turn Management LLC now owns 893,473 shares of the company’s stock worth $31,343,000 after purchasing an additional 176,502 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.