NewAmsterdam Pharma (NASDAQ:NAMS) Hits New 12-Month Low – Here’s What Happened

NewAmsterdam Pharma Company N.V. (NASDAQ:NAMS)’s stock price hit a new 52-week low during mid-day trading on Saturday. The stock traded as low as $19.13 and last traded at $19.71, with a volume of 2,311,178 shares. The stock had previously closed at $21.58.

Wall Street Analyst Weigh In

Several research firms recently weighed in on NAMS. Weiss Ratings reissued a “sell (d-)” rating on shares of NewAmsterdam Pharma in a report on Thursday, October 15th. Royal Bank Of Canada lowered their target price on NewAmsterdam Pharma from $50.00 to $42.00 and set an “outperform” rating for the company in a report on Monday, October 5th. BMO Capital Markets assumed coverage on NewAmsterdam Pharma in a research report on Monday, July 20th. They issued an “outperform” rating and a $58.00 target price for the company. Jefferies Financial Group reissued a “buy” rating and set a $45.00 price target on shares of NewAmsterdam Pharma in a research note on Monday, July 20th. Finally, HC Wainwright reissued a “buy” rating and set a $52.00 price target on shares of NewAmsterdam Pharma in a research note on Tuesday, September 8th. One analyst has rated the stock with a Strong Buy rating, nine 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 has an average rating of “Moderate Buy” and a consensus target price of $48.90.

NewAmsterdam Pharma Stock Performance

The stock has a market capitalization of $2.36 billion, a P/E ratio of -9.12 and a beta of 0.10. The business has a fifty day simple moving average of $23.54 and a 200-day simple moving average of $29.21.

NewAmsterdam Pharma (NASDAQ:NAMS) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($0.52) earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $3.70 million during the quarter, compared to the consensus estimate of $2.83 million. On average, sell-side analysts anticipate that NewAmsterdam Pharma Company N.V. will post -1.82 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Michael Davidson purchased 10,000 shares of NewAmsterdam Pharma stock in a transaction on Monday, September 14th. The stock was acquired at an average cost of $22.65 per share, for a total transaction of $226,500.00. Following the completion of the acquisition, the chief executive officer owned 792,923 shares of the company’s stock, valued at $17,959,705.95. This trade represents a 1.28% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John W. Smither sold 1,600 shares of NewAmsterdam Pharma stock in a transaction on 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 sale, the director directly owned 8,760 shares of the company’s stock, valued at approximately $221,803.20. This trade represents a 15.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 176,846 shares of company stock worth $4,661,919. 12.74% of the stock is currently owned by company insiders.

Institutional Trading of NewAmsterdam Pharma

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NAMS. AlphaCentric Advisors LLC increased its holdings in NewAmsterdam Pharma by 6.7% in the 1st quarter. AlphaCentric Advisors LLC now owns 14,656 shares of the company’s stock valued at $469,000 after purchasing an additional 925 shares during the last quarter. KBC Group NV acquired a new position in NewAmsterdam Pharma during the first quarter worth $37,000. AdvisorNet Financial Inc acquired a new position in NewAmsterdam Pharma during the first quarter worth $82,000. Arizona State Retirement System lifted its stake in NewAmsterdam Pharma by 34.6% during the second quarter. Arizona State Retirement System now owns 16,656 shares of the company’s stock worth $564,000 after purchasing an additional 4,281 shares in the last quarter. Finally, Mizuho Markets Cayman LP boosted its position in shares of NewAmsterdam Pharma by 9.1% during the first quarter. Mizuho Markets Cayman LP now owns 52,227 shares of the company’s stock worth $1,672,000 after buying an additional 4,348 shares during the period. 89.89% of the stock is owned by institutional investors.

About NewAmsterdam Pharma

NewAmsterdam Pharma (NASDAQ: NAMS) is a clinical-stage biopharmaceutical company focused on developing therapies for cardiometabolic diseases. The company’s primary investigational product is obicetrapib, an oral, low-dose cholesteryl ester transfer protein (CETP) inhibitor designed to reduce low-density lipoprotein cholesterol and potentially address residual cardiovascular risk in patients who remain inadequately controlled on existing treatments.

NewAmsterdam is evaluating obicetrapib in late-stage clinical studies involving patients with dyslipidemia, including individuals with heterozygous familial hypercholesterolemia and patients who are unable to reach cholesterol goals with currently available therapies.