NewAmsterdam Pharma (NASDAQ:NAMS) Stock Price Up 7% – Here’s What Happened

NewAmsterdam Pharma Company N.V. (NASDAQ:NAMS) shares were up 7% on Friday . The company traded as high as $39.18 and last traded at $38.9840. Approximately 546,221 shares traded hands during mid-day trading, a decline of 42% from the average daily volume of 934,160 shares. The stock had previously closed at $36.42.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on NAMS. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NewAmsterdam Pharma in a report on Wednesday, October 8th. Needham & Company LLC increased their price target on NewAmsterdam Pharma from $40.00 to $46.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. HC Wainwright assumed coverage on NewAmsterdam Pharma in a report on Monday, October 20th. They issued a “buy” rating and a $52.00 price target for the company. Wells Fargo & Company started coverage on shares of NewAmsterdam Pharma in a research report on Monday, August 25th. They set an “overweight” rating and a $45.00 target price on the stock. Finally, Citigroup boosted their price objective on shares of NewAmsterdam Pharma from $42.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, October 17th. Eight investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $44.30.

NewAmsterdam Pharma Price Performance

The company has a 50-day moving average of $32.51 and a two-hundred day moving average of $24.99. The stock has a market capitalization of $4.33 billion, a PE ratio of -18.69 and a beta of 0.05.

NewAmsterdam Pharma (NASDAQ:NAMS) last announced its quarterly earnings data on Wednesday, November 5th. The company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of ($0.38) by ($0.03). NewAmsterdam Pharma had a negative return on equity of 28.30% and a negative net margin of 627.59%.The company had revenue of $0.35 million for the quarter, compared to analysts’ expectations of $4.54 million. On average, research analysts forecast that NewAmsterdam Pharma Company N.V. will post -1.75 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Johannes Jacob Piete Kastelein sold 50,000 shares of the stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $24.29, for a total transaction of $1,214,500.00. Following the completion of the sale, the insider owned 119,302 shares of the company’s stock, valued at approximately $2,897,845.58. This represents a 29.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James N. Topper acquired 1,260 shares of the firm’s stock in a transaction on Monday, September 8th. The shares were acquired at an average price of $24.99 per share, with a total value of $31,487.40. Following the completion of the purchase, the director owned 3,027,864 shares of the company’s stock, valued at $75,666,321.36. This trade represents a 0.04% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold 226,342 shares of company stock worth $5,748,019 over the last three months. 20.84% of the stock is owned by insiders.

Hedge Funds Weigh In On NewAmsterdam Pharma

A number of institutional investors have recently added to or reduced their stakes in NAMS. Squarepoint Ops LLC boosted its stake in shares of NewAmsterdam Pharma by 46.8% during the 3rd quarter. Squarepoint Ops LLC now owns 20,959 shares of the company’s stock valued at $596,000 after buying an additional 6,680 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of NewAmsterdam Pharma by 21.0% during the third quarter. Wellington Management Group LLP now owns 4,020,126 shares of the company’s stock valued at $114,332,000 after purchasing an additional 697,129 shares during the period. Kennedy Capital Management LLC raised its position in shares of NewAmsterdam Pharma by 972.9% during the 3rd quarter. Kennedy Capital Management LLC now owns 146,715 shares of the company’s stock worth $4,173,000 after buying an additional 133,040 shares in the last quarter. UBS Group AG boosted its stake in NewAmsterdam Pharma by 22.4% during the 3rd quarter. UBS Group AG now owns 768,520 shares of the company’s stock valued at $21,857,000 after purchasing an additional 140,801 shares in the last quarter. Finally, Franklin Resources Inc. lifted its holdings in NewAmsterdam Pharma by 21.4% in the 3rd quarter. Franklin Resources Inc. now owns 405,825 shares of the company’s stock valued at $11,542,000 after acquiring an additional 71,613 shares during the last quarter. Institutional investors and hedge funds own 89.89% of the company’s stock.

About NewAmsterdam Pharma

NewAmsterdam Pharma Company N.V., a late-stage biopharmaceutical company, develops therapies to enhance patient care in populations with metabolic disease. It is developing obicetrapib, an oral low-dose cholesteryl ester transfer protein (CETP) inhibitor, that is in various clinical trials as a monotherapy and a combination therapy with ezetimibe for lowering LDL-C for cardiovascular diseases.