NewAmsterdam Pharma (NASDAQ:NAMS) Stock Price Down 5.2% – Time to Sell?

NewAmsterdam Pharma Company N.V. (NASDAQ:NAMS – Get Free Report)’s share price traded down 5.2% during mid-day trading on Friday. The stock traded as low as $22.98 and last traded at $22.9150. 469,005 shares changed hands during trading, a decline of 59% from the average daily volume of 1,131,556 shares. The stock had previously closed at $24.16.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. HC Wainwright restated a “buy” rating and set a $52.00 target price on shares of NewAmsterdam Pharma in a research report on Tuesday, September 8th. Jefferies Financial Group reiterated a “buy” rating and issued a $45.00 price target on shares of NewAmsterdam Pharma in a research note on Monday, July 20th. BMO Capital Markets initiated coverage on shares of NewAmsterdam Pharma in a report on Monday, July 20th. They set an “outperform” rating and a $58.00 price objective for the company. Weiss Ratings restated a “sell (d-)” rating on shares of NewAmsterdam Pharma in a research report on Friday, July 17th. Finally, Royal Bank Of Canada reduced their target price on NewAmsterdam Pharma from $51.00 to $50.00 and set an “outperform” rating on the stock in a report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, NewAmsterdam Pharma currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.73.

View Our Latest Stock Analysis on NewAmsterdam Pharma

NewAmsterdam Pharma Stock Down 5.5%

The stock’s 50 day moving average is $25.69 and its 200-day moving average is $30.28. The company has a market cap of $2.73 billion, a PE ratio of -10.58 and a beta of 0.10.

NewAmsterdam Pharma (NASDAQ:NAMS – Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($0.52) EPS for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.04). NewAmsterdam Pharma had a negative return on equity of 34.81% and a negative net margin of 3,644.21%.The business had revenue of $3.70 million during the quarter, compared to analysts’ expectations of $2.83 million. On average, analysts anticipate that NewAmsterdam Pharma Company N.V. will post -1.82 EPS for the current fiscal year.

Insider Buying and Selling

In other NewAmsterdam Pharma news, CAO Louise Kooij sold 105,000 shares of the business’s stock in a transaction on 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 transaction, the chief accounting officer owned 24,353 shares in the company, valued at $738,870.02. The trade was a 81.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Johannes Kastelein sold 125,000 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $26.91, for a total value of $3,363,750.00. Following the transaction, the insider owned 69,302 shares of the company’s stock, valued at $1,864,916.82. This trade represents a 64.33% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, 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

A number of institutional investors and hedge funds have recently modified their holdings of the business. Engineers Gate Manager LP purchased a new position in NewAmsterdam Pharma in the 2nd quarter worth about $662,000. Squarepoint Ops LLC boosted its position in NewAmsterdam Pharma by 113.9% in the 2nd quarter. Squarepoint Ops LLC now owns 92,026 shares of the company’s stock valued at $3,119,000 after buying an additional 49,005 shares during the period. Arizona State Retirement System boosted its position in NewAmsterdam Pharma by 34.6% in the 2nd quarter. Arizona State Retirement System now owns 16,656 shares of the company’s stock valued at $564,000 after buying an additional 4,281 shares during the period. Frazier Life Sciences Management L.P. grew its stake in NewAmsterdam Pharma by 6.8% in the 2nd quarter. Frazier Life Sciences Management L.P. now owns 18,088,902 shares of the company’s stock worth $613,033,000 after acquiring an additional 1,145,128 shares in the last quarter. Finally, Bank of America Corp DE increased its position in shares of NewAmsterdam Pharma by 84.4% during the first quarter. Bank of America Corp DE now owns 847,089 shares of the company’s stock worth $27,115,000 after acquiring an additional 387,698 shares during the period. 89.89% of the stock is owned by institutional investors.

About NewAmsterdam Pharma

(Get Free Report)

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.

Further Reading

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