NewAmsterdam Pharma (NASDAQ:NAMS) Sees Unusually-High Trading Volume

NewAmsterdam Pharma (NASDAQ:NAMS) shares saw strong trading volume on Monday . 249,175 shares changed hands during mid-day trading, a decline of 2% from the previous session’s volume of 253,713 shares.The stock last traded at $16.66 and had previously closed at $16.23.

Analyst Ratings Changes

Several research firms have issued reports on NAMS. Needham & Company LLC began coverage on NewAmsterdam Pharma in a research note on Wednesday, August 28th. They set a “buy” rating and a $36.00 price objective for the company. Royal Bank of Canada restated an “outperform” rating and issued a $31.00 target price on shares of NewAmsterdam Pharma in a research note on Thursday, September 5th. Finally, Piper Sandler reiterated an “overweight” rating and set a $37.00 price target on shares of NewAmsterdam Pharma in a research report on Monday, September 23rd. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $33.80.

NewAmsterdam Pharma Stock Up 3.1 %

The company’s fifty day simple moving average is $16.58 and its two-hundred day simple moving average is $18.99.

NewAmsterdam Pharma (NASDAQ:NAMS) last posted its earnings results on Wednesday, August 7th. The company reported ($0.51) earnings per share for the quarter, topping the consensus estimate of ($0.59) by $0.08. The business had revenue of $2.28 million for the quarter, compared to the consensus estimate of $2.20 million. Sell-side analysts anticipate that NewAmsterdam Pharma will post -2.06 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Millennium Management LLC raised its holdings in shares of NewAmsterdam Pharma by 23.0% in the 2nd quarter. Millennium Management LLC now owns 1,165,429 shares of the company’s stock valued at $22,388,000 after purchasing an additional 217,902 shares during the period. Jennison Associates LLC bought a new position in shares of NewAmsterdam Pharma during the 1st quarter worth approximately $22,015,000. Deerfield Management Company L.P. Series C increased its holdings in shares of NewAmsterdam Pharma by 30.3% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 869,250 shares of the company’s stock worth $16,698,000 after acquiring an additional 202,250 shares during the last quarter. Artal Group S.A. acquired a new stake in NewAmsterdam Pharma during the 1st quarter valued at $18,920,000. Finally, Janus Henderson Group PLC bought a new position in NewAmsterdam Pharma during the first quarter worth $15,018,000. Institutional investors own 89.89% of the company’s stock.

About NewAmsterdam Pharma

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.