NewAmsterdam Pharma (NASDAQ:NAMS) Shares Down 4.4% – Here’s What Happened

NewAmsterdam Pharma (NASDAQ:NAMS)’s stock price dropped 4.4% on Wednesday . The company traded as low as $20.92 and last traded at $20.88. Approximately 106,510 shares were traded during mid-day trading, a decline of 84% from the average daily volume of 668,501 shares. The stock had previously closed at $21.84.

Analysts Set New Price Targets

NAMS has been the subject of several research reports. Needham & Company LLC reiterated a “buy” rating and issued a $40.00 price target on shares of NewAmsterdam Pharma in a research note on Thursday. UBS Group set a $41.00 price objective on shares of NewAmsterdam Pharma in a report on Monday, March 3rd. Cantor Fitzgerald began coverage on shares of NewAmsterdam Pharma in a report on Wednesday, June 4th. They set an “overweight” rating and a $42.00 target price for the company. Stifel Nicolaus assumed coverage on NewAmsterdam Pharma in a research report on Tuesday. They issued a “buy” rating and a $44.00 price target on the stock. Finally, Wall Street Zen upgraded NewAmsterdam Pharma from a “sell” rating to a “hold” rating in a research note on Friday, May 30th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.00.

NewAmsterdam Pharma Trading Up 3.0%

The company has a market capitalization of $2.37 billion, a PE ratio of -11.11 and a beta of -0.03. The business’s fifty day moving average is $18.09 and its two-hundred day moving average is $20.86.

NewAmsterdam Pharma (NASDAQ:NAMS) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.04). The firm had revenue of $2.98 million during the quarter, compared to analysts’ expectations of $1.46 million. As a group, equities research analysts anticipate that NewAmsterdam Pharma will post -1.75 EPS for the current year.

Insiders Place Their Bets

In other news, Director James N. Topper bought 1,135 shares of the stock in a transaction on Wednesday, March 26th. The shares were bought at an average price of $22.49 per share, with a total value of $25,526.15. Following the completion of the acquisition, the director now owns 3,013,569 shares in the company, valued at $67,775,166.81. The trade was a 0.04% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 20.84% of the stock is currently owned by insiders.

Hedge Funds Weigh In On NewAmsterdam Pharma

Several institutional investors have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. grew its position in NewAmsterdam Pharma by 19.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,675 shares of the company’s stock valued at $80,000 after buying an additional 596 shares during the period. Quarry LP purchased a new position in shares of NewAmsterdam Pharma during the 1st quarter worth $25,000. GF Fund Management CO. LTD. bought a new stake in shares of NewAmsterdam Pharma during the 4th quarter valued at $50,000. National Bank of Canada FI bought a new stake in shares of NewAmsterdam Pharma during the 4th quarter valued at $51,000. Finally, Geode Capital Management LLC increased its stake in shares of NewAmsterdam Pharma by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 88,544 shares of the company’s stock worth $2,276,000 after purchasing an additional 2,222 shares in the last quarter. Institutional investors own 89.89% of the company’s stock.

NewAmsterdam Pharma Company Profile

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.