NewAmsterdam Pharma (NASDAQ:NAMS) Shares Gap Down – Here’s Why

NewAmsterdam Pharma Company N.V. (NASDAQ:NAMS)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $38.33, but opened at $36.87. NewAmsterdam Pharma shares last traded at $36.82, with a volume of 425,528 shares trading hands.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company assumed coverage on NewAmsterdam Pharma in a report on Monday, August 25th. They set an “overweight” rating and a $45.00 price target on the stock. Needham & Company LLC lifted their target price on NewAmsterdam Pharma from $40.00 to $46.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. The Goldman Sachs Group boosted their price target on NewAmsterdam Pharma from $30.00 to $37.00 and gave the stock a “neutral” rating in a research report on Tuesday. Royal Bank Of Canada increased their price target on NewAmsterdam Pharma from $39.00 to $44.00 and gave the stock an “outperform” rating in a research note on Thursday, November 6th. Finally, Citigroup lifted their price objective on shares of NewAmsterdam Pharma from $42.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, October 17th. Eight research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $45.30.

NewAmsterdam Pharma Stock Down 6.4%

The firm has a market capitalization of $4.07 billion, a price-to-earnings ratio of -17.56 and a beta of 0.05. The firm’s 50 day moving average is $36.02 and its 200 day moving average is $26.94.

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

Insiders Place Their Bets

In other NewAmsterdam Pharma news, CAO Louise Frederika Kooij sold 150,000 shares of the company’s stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $25.83, for a total transaction of $3,874,500.00. Following the completion of the sale, the chief accounting officer directly owned 15,000 shares of the company’s stock, valued at approximately $387,450. This represents a 90.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James N. Topper bought 1,260 shares of the firm’s stock in a transaction on Monday, September 8th. The stock was purchased at an average price of $24.99 per share, with a total value of $31,487.40. Following the completion of the acquisition, the director owned 3,027,864 shares of the company’s stock, valued at approximately $75,666,321.36. This trade represents a 0.04% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 20.84% of the stock is owned by insiders.

Institutional Investors Weigh In On NewAmsterdam Pharma

Several hedge funds have recently made changes to their positions in the company. Capital World Investors boosted its stake in NewAmsterdam Pharma by 17.1% in the 3rd quarter. Capital World Investors now owns 9,822,711 shares of the company’s stock worth $279,358,000 after purchasing an additional 1,434,986 shares during the period. RA Capital Management L.P. raised its stake in NewAmsterdam Pharma by 14.6% during the 1st quarter. RA Capital Management L.P. now owns 10,138,938 shares of the company’s stock valued at $207,544,000 after purchasing an additional 1,293,938 shares during the period. Jennison Associates LLC lifted its holdings in shares of NewAmsterdam Pharma by 42.5% in the third quarter. Jennison Associates LLC now owns 4,198,554 shares of the company’s stock valued at $119,407,000 after purchasing an additional 1,252,451 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of NewAmsterdam Pharma by 53.0% in the first quarter. Wellington Management Group LLP now owns 3,541,975 shares of the company’s stock valued at $72,504,000 after purchasing an additional 1,226,852 shares in the last quarter. Finally, Duquesne Family Office LLC boosted its position in shares of NewAmsterdam Pharma by 131.2% in the third quarter. Duquesne Family Office LLC now owns 1,923,700 shares of the company’s stock worth $54,710,000 after buying an additional 1,091,525 shares during the period. Hedge funds and other 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.