NewAmsterdam Pharma (NASDAQ:NAMS) Announces Quarterly Earnings Results, Misses Estimates By $0.03 EPS

NewAmsterdam Pharma (NASDAQ:NAMS) announced its quarterly earnings data on Wednesday. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.38) by ($0.03), Zacks reports. The firm had revenue of $0.35 million during the quarter, compared to the consensus estimate of $4.54 million. NewAmsterdam Pharma had a negative return on equity of 27.27% and a negative net margin of 259.07%.

NewAmsterdam Pharma Price Performance

NewAmsterdam Pharma stock traded down $0.93 during mid-day trading on Thursday, reaching $37.21. The company had a trading volume of 326,770 shares, compared to its average volume of 929,909. NewAmsterdam Pharma has a 1 year low of $14.06 and a 1 year high of $41.47. The company has a market capitalization of $4.19 billion, a P/E ratio of -23.14 and a beta of 0.05. The stock’s 50-day simple moving average is $30.91 and its 200-day simple moving average is $24.17.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on NAMS. HC Wainwright began coverage on NewAmsterdam Pharma in a report on Monday, October 20th. They set a “buy” rating and a $52.00 price objective for the company. Needham & Company LLC raised their target price on NewAmsterdam Pharma from $40.00 to $46.00 and gave the stock a “buy” rating in a research note on Wednesday. The Goldman Sachs Group assumed coverage on NewAmsterdam Pharma in a research note on Thursday, July 17th. They issued a “neutral” rating and a $27.00 target price for the company. Citigroup raised their target price on NewAmsterdam Pharma from $42.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, October 17th. Finally, Royal Bank Of Canada raised their target price on NewAmsterdam Pharma from $39.00 to $44.00 and gave the stock an “outperform” rating in a research note on Thursday. Eight equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $44.30.

Insider Buying and Selling at NewAmsterdam Pharma

In other 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 value of $1,214,500.00. Following the sale, the insider directly owned 119,302 shares in the company, valued at $2,897,845.58. This represents a 29.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Louise Frederika Kooij sold 150,000 shares of the stock in a transaction that occurred on 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 owned 15,000 shares in the company, valued at $387,450. This represents a 90.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders purchased 2,391 shares of company stock valued at $58,424 and sold 226,342 shares valued at $5,748,019. 20.84% of the stock is currently owned by corporate insiders.

Institutional Trading of NewAmsterdam Pharma

Hedge funds have recently bought and sold shares of the company. The Manufacturers Life Insurance Company boosted its position in NewAmsterdam Pharma by 5.3% during the second quarter. The Manufacturers Life Insurance Company now owns 10,868 shares of the company’s stock worth $197,000 after acquiring an additional 544 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of NewAmsterdam Pharma by 4.5% in the 2nd quarter. BNP Paribas Financial Markets now owns 29,277 shares of the company’s stock valued at $530,000 after purchasing an additional 1,257 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of NewAmsterdam Pharma in the 1st quarter valued at $610,000. Exome Asset Management LLC acquired a new position in shares of NewAmsterdam Pharma in the 2nd quarter valued at $662,000. Finally, Legal & General Group Plc boosted its holdings in shares of NewAmsterdam Pharma by 33.5% in the 2nd quarter. Legal & General Group Plc now owns 44,235 shares of the company’s stock valued at $801,000 after purchasing an additional 11,106 shares during the last quarter. Institutional investors and hedge funds 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.