NewAmsterdam Pharma (NASDAQ:NAMS) Hits New 12-Month Low – What’s Next?

NewAmsterdam Pharma Company N.V. (NASDAQ:NAMS)’s share price reached a new 52-week low during mid-day trading on Thursday. The stock traded as low as $20.95 and last traded at $21.1560, with a volume of 543745 shares traded. The stock had previously closed at $22.13.

Wall Street Analyst Weigh In

Several research firms recently commented on NAMS. BMO Capital Markets assumed coverage on NewAmsterdam Pharma in a report on Monday, July 20th. They issued an “outperform” rating and a $58.00 target price on the stock. Royal Bank Of Canada lowered their price objective on NewAmsterdam Pharma from $50.00 to $42.00 and set an “outperform” rating for the company in a research report on Monday. HC Wainwright reiterated a “buy” rating and issued a $52.00 price objective on shares of NewAmsterdam Pharma in a report on Tuesday, September 8th. Jefferies Financial Group reissued a “buy” rating and set a $45.00 target price on shares of NewAmsterdam Pharma in a research report on Monday, July 20th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of NewAmsterdam Pharma in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, NewAmsterdam Pharma presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.00.

NewAmsterdam Pharma Stock Down 4.7%

The stock has a market capitalization of $2.52 billion, a PE ratio of -9.76 and a beta of 0.10. The business’s 50-day moving average is $25.18 and its two-hundred day moving average is $30.07.

NewAmsterdam Pharma (NASDAQ:NAMS) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $3.70 million for the quarter, compared to analysts’ expectations of $2.83 million. As a group, analysts anticipate that NewAmsterdam Pharma Company N.V. will post -1.82 EPS for the current year.

Insider Transactions at NewAmsterdam Pharma

In other news, CEO Michael Davidson purchased 10,000 shares of the company’s stock in a transaction that occurred on Monday, September 14th. The shares were purchased 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 of the company’s stock, valued at $17,959,705.95. This represents a 1.28% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John W. Smither sold 1,600 shares of NewAmsterdam Pharma stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $25.32, for a total value of $40,512.00. Following the transaction, the director directly owned 8,760 shares in the company, valued at approximately $221,803.20. This trade represents a 15.44% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 281,846 shares of company stock worth $7,847,619. 12.74% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On NewAmsterdam Pharma

Institutional investors have recently modified their holdings of the business. AlphaCentric Advisors LLC boosted its position in shares of NewAmsterdam Pharma by 6.7% during the 1st quarter. AlphaCentric Advisors LLC now owns 14,656 shares of the company’s stock worth $469,000 after purchasing an additional 925 shares in the last quarter. KBC Group NV acquired a new stake in shares of NewAmsterdam Pharma in the first quarter valued at about $37,000. AdvisorNet Financial Inc acquired a new stake in shares of NewAmsterdam Pharma in the first quarter valued at about $82,000. Seven Fleet Capital Management LP purchased a new stake in NewAmsterdam Pharma during the fourth quarter worth about $140,000. Finally, Arizona State Retirement System boosted its holdings in NewAmsterdam Pharma by 34.6% during the second quarter. Arizona State Retirement System now owns 16,656 shares of the company’s stock worth $564,000 after buying an additional 4,281 shares in the last quarter. 89.89% of the stock is owned by institutional investors and hedge funds.

About NewAmsterdam Pharma

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.