NewAmsterdam Pharma (NASDAQ:NAMS) Sets New 52-Week Low – Should You Sell?

NewAmsterdam Pharma Company N.V. (NASDAQ:NAMS)’s stock price reached a new 52-week low during mid-day trading on Wednesday. The stock traded as low as $20.04 and last traded at $20.19, with a volume of 989,284 shares trading hands. The stock had previously closed at $21.25.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Weiss Ratings reissued 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 target on shares of NewAmsterdam Pharma in a research report on Tuesday, September 8th. Royal Bank Of Canada dropped their price objective on shares of NewAmsterdam Pharma from $50.00 to $42.00 and set an “outperform” rating for the company in a research note on Monday, October 5th. Jefferies Financial Group reiterated a “buy” rating and set a $45.00 price objective on shares of NewAmsterdam Pharma in a research report on Monday, July 20th. Finally, BMO Capital Markets began coverage on shares of NewAmsterdam Pharma in a research report on Monday, July 20th. They set an “outperform” rating and a $58.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, NewAmsterdam Pharma currently has an average rating of “Moderate Buy” and an average target price of $49.00.

NewAmsterdam Pharma Stock Down 5.0%

The firm has a market cap of $2.41 billion, a P/E ratio of -9.35 and a beta of 0.10. The company’s 50 day simple moving average is $24.64 and its 200-day simple moving average is $29.82.

NewAmsterdam Pharma (NASDAQ:NAMS) last announced 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%. Equities research analysts predict that NewAmsterdam Pharma Company N.V. will post -1.82 EPS for the current year.

Insiders Place Their Bets

In other NewAmsterdam Pharma news, CEO Michael Davidson purchased 10,000 shares of the firm’s stock in a transaction that occurred on Monday, September 14th. The stock was purchased at an average cost of $22.65 per share, with a total value of $226,500.00. Following the purchase, the chief executive officer owned 792,923 shares of the company’s stock, valued at approximately $17,959,705.95. The trade was a 1.28% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John W. Smither sold 1,600 shares of the business’s stock in a transaction on 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 owned 8,760 shares of the company’s stock, valued at approximately $221,803.20. The trade was a 15.44% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 281,846 shares of company stock valued at $7,847,619. Corporate insiders own 12.74% of the company’s stock.

Institutional Trading of NewAmsterdam Pharma

Several institutional investors and hedge funds have recently made changes to their positions in NAMS. KBC Group NV purchased a new stake in shares of NewAmsterdam Pharma during the first quarter valued at $37,000. AdvisorNet Financial Inc purchased a new position in NewAmsterdam Pharma in the 1st quarter worth about $82,000. Seven Fleet Capital Management LP purchased a new position in NewAmsterdam Pharma in the 4th quarter worth about $140,000. PNC Financial Services Group Inc. increased its stake in NewAmsterdam Pharma by 147.7% in the 1st 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, AlphaCentric Advisors LLC lifted its holdings in NewAmsterdam Pharma by 6.7% during the 1st quarter. AlphaCentric Advisors LLC now owns 14,656 shares of the company’s stock valued at $469,000 after buying an additional 925 shares in the last quarter. 89.89% of the stock is currently owned by institutional investors.

NewAmsterdam Pharma Company Profile

NewAmsterdam Pharma is a clinical-stage biopharmaceutical company focused on developing therapies for cardiometabolic diseases, with an emphasis on improving the treatment of dyslipidemia and reducing cardiovascular risk. The company’s lead investigational product is obicetrapib, an oral cholesteryl ester transfer protein (CETP) inhibitor designed to lower low-density lipoprotein cholesterol and potentially address other lipid-related abnormalities.

Obicetrapib is being studied as an adjunct to existing lipid-lowering therapies, including in patients who have not achieved adequate cholesterol control and people with heterozygous familial hypercholesterolemia.