NewAmsterdam Pharma (NASDAQ:NAMS) Cut to “Sell” at Wall Street Zen

Wall Street Zen cut shares of NewAmsterdam Pharma (NASDAQ:NAMS) from a hold rating to a sell rating in a research report sent to investors on Saturday,Wall Street Zen reports.

A number of other research analysts have also recently 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. HC Wainwright reaffirmed a “buy” rating and issued a $52.00 target price on shares of NewAmsterdam Pharma in a report on Tuesday, September 8th. Royal Bank Of Canada lowered their target price on shares of NewAmsterdam Pharma from $50.00 to $42.00 and set an “outperform” rating on the stock in a report on Monday, October 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of NewAmsterdam Pharma in a research report on Thursday, October 15th. Finally, BMO Capital Markets started coverage on shares of NewAmsterdam Pharma in a report on Monday, July 20th. They set an “outperform” rating and a $58.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, NewAmsterdam Pharma has an average rating of “Moderate Buy” and an average target price of $48.90.

NewAmsterdam Pharma Stock Down 0.9%

NASDAQ:NAMS opened at $19.53 on Friday. NewAmsterdam Pharma has a 12-month low of $19.13 and a 12-month high of $42.21. The firm has a market capitalization of $2.33 billion, a PE ratio of -9.04 and a beta of 0.10. The firm has a 50-day moving average price of $23.42 and a 200 day moving average price of $30.11.

NewAmsterdam Pharma (NASDAQ:NAMS) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($0.52) EPS for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.04). The business had revenue of $3.70 million for the quarter, compared to the consensus estimate of $2.83 million. NewAmsterdam Pharma had a negative return on equity of 34.81% and a negative net margin of 3,644.21%. On average, research analysts expect that NewAmsterdam Pharma will post -1.82 EPS for the current year.

Insider Buying and Selling

In other news, CEO Michael Davidson bought 10,000 shares of the company’s stock in a transaction dated Monday, September 14th. The stock was bought at an average price of $22.65 per share, for a total transaction of $226,500.00. Following the completion of the transaction, the chief executive officer directly owned 792,923 shares in the company, valued at $17,959,705.95. The trade was a 1.28% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director John W. Smither sold 1,600 shares of the business’s stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $25.32, for a total value of $40,512.00. Following the sale, the director directly owned 8,760 shares of the company’s stock, valued at $221,803.20. This represents a 15.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 176,846 shares of company stock worth $4,661,919 in the last quarter. Insiders own 12.74% of the company’s stock.

Hedge Funds Weigh In On NewAmsterdam Pharma

Several institutional investors and hedge funds have recently made changes to their positions in NAMS. Frazier Life Sciences Management L.P. lifted its holdings in shares of 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 valued at $613,033,000 after purchasing an additional 1,145,128 shares in the last quarter. Maverick Capital Ltd. grew its position in shares of NewAmsterdam Pharma by 15.4% in the 1st quarter. Maverick Capital Ltd. now owns 2,186,402 shares of the company’s stock valued at $69,987,000 after purchasing an additional 292,176 shares during the period. Bank of America Corp DE increased its stake in NewAmsterdam Pharma by 84.4% during the 1st quarter. Bank of America Corp DE now owns 847,089 shares of the company’s stock worth $27,115,000 after purchasing an additional 387,698 shares in the last quarter. SEB Asset Management AB bought a new stake in NewAmsterdam Pharma during the 1st quarter worth approximately $8,728,000. Finally, Stempoint Capital LP increased its stake in NewAmsterdam Pharma by 147.1% during the 1st 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 in the last quarter. Institutional investors and hedge funds own 89.89% of the company’s stock.

NewAmsterdam Pharma Company Profile

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.