NewAmsterdam Pharma Company N.V. (NASDAQ:NAMS – Get Free Report) shares reached a new 52-week low during trading on Saturday after Wall Street Zen downgraded the stock from a hold rating to a sell rating. 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.
Several other brokerages have also issued reports on NAMS. Jefferies Financial Group reissued a “buy” rating and set a $45.00 price objective on shares of NewAmsterdam Pharma in a report on Monday, July 20th. Royal Bank Of Canada reduced 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. Weiss Ratings restated a “sell (d-)” rating on shares of NewAmsterdam Pharma in a report on Thursday, October 15th. HC Wainwright restated a “buy” rating and set a $52.00 target price on shares of NewAmsterdam Pharma in a report on Tuesday, September 8th. Finally, BMO Capital Markets initiated coverage on NewAmsterdam Pharma in a research report on Monday, July 20th. They set an “outperform” rating and a $58.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, NewAmsterdam Pharma has an average rating of “Moderate Buy” and a consensus price target of $48.90.
Get Our Latest Report on NewAmsterdam Pharma
Insider Transactions at NewAmsterdam Pharma
In other news, insider Johannes Kastelein sold 50,246 shares of the company’s stock in a transaction dated Wednesday, September 30th. The shares were sold at an average price of $25.03, for a total transaction of $1,257,657.38. Following the transaction, the insider owned 69,302 shares in the company, valued at $1,734,629.06. This represents a 42.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Michael Davidson purchased 10,000 shares of the business’s stock in a transaction on Monday, September 14th. The shares were bought at an average price of $22.65 per share, for a total transaction of $226,500.00. Following the purchase, the chief executive officer directly owned 792,923 shares in the company, valued at $17,959,705.95. This represents a 1.28% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders have sold 176,846 shares of company stock worth $4,661,919. Insiders own 12.74% of the company’s stock.
Hedge Funds Weigh In On NewAmsterdam Pharma
Several hedge funds and other institutional investors have recently bought and sold shares of NAMS. Frazier Life Sciences Management L.P. raised its position 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 worth $613,033,000 after buying an additional 1,145,128 shares during the last quarter. Maverick Capital Ltd. increased its stake in shares of NewAmsterdam Pharma by 15.4% in the first quarter. Maverick Capital Ltd. now owns 2,186,402 shares of the company’s stock worth $69,987,000 after acquiring an additional 292,176 shares during the period. Bank of America Corp DE increased its stake in shares of NewAmsterdam Pharma by 84.4% in 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. SEB Asset Management AB acquired a new stake in shares of NewAmsterdam Pharma in the first quarter worth $8,728,000. Finally, Stempoint Capital LP raised its holdings in shares of NewAmsterdam Pharma by 147.1% during the first quarter. Stempoint Capital LP now owns 180,658 shares of the company’s stock worth $5,783,000 after purchasing an additional 107,552 shares during the last quarter. Institutional investors and hedge funds own 89.89% of the company’s stock.
NewAmsterdam Pharma Price Performance
The company’s fifty day moving average is $23.54 and its 200-day moving average is $29.18. The stock has a market cap of $2.36 billion, a PE ratio of -9.12 and a beta of 0.10.
NewAmsterdam Pharma (NASDAQ:NAMS – Get Free Report) 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 during 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%. Analysts expect that NewAmsterdam Pharma Company N.V. will post -1.82 EPS for the current year.
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.
See Also
- Five stocks we like better than NewAmsterdam Pharma
- Newmont’s Record Quarter Shows Why Gold’s Floor Is the Real Story
- Albemarle Upgrade: Can Energy Storage Recharge Lithium’s Leader?
- Consumer Staples Are Up 12% This Year—These 3 Beverage Stocks Are Leading the Way
- Can Planet Fitness Get Its Growth Back in Shape?
Receive News & Ratings for NewAmsterdam Pharma Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NewAmsterdam Pharma and related companies with MarketBeat.com's FREE daily email newsletter.
