NewAmsterdam Pharma (NASDAQ:NAMS) Shares Gap Down to $16.60

NewAmsterdam Pharma (NASDAQ:NAMS) shares gapped down before the market opened on Tuesday . The stock had previously closed at $16.60, but opened at $15.72. NewAmsterdam Pharma shares last traded at $16.45, with a volume of 58,998 shares.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $31.00 target price on shares of NewAmsterdam Pharma in a report on Thursday, September 5th. Needham & Company LLC initiated coverage on shares of NewAmsterdam Pharma in a research note on Wednesday, August 28th. They set a “buy” rating and a $36.00 price objective for the company. Finally, Piper Sandler reissued an “overweight” rating and issued a $37.00 target price on shares of NewAmsterdam Pharma in a research note on Monday, September 23rd. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $33.80.

NewAmsterdam Pharma Price Performance

The stock’s fifty day moving average is $16.54 and its 200-day moving average is $18.96.

NewAmsterdam Pharma (NASDAQ:NAMS) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.51) earnings per share for the quarter, beating the consensus estimate of ($0.59) by $0.08. The firm had revenue of $2.28 million during the quarter, compared to analysts’ expectations of $2.20 million. As a group, research analysts expect that NewAmsterdam Pharma will post -2.06 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Parkman Healthcare Partners LLC lifted its stake in shares of NewAmsterdam Pharma by 20.8% in the 4th quarter. Parkman Healthcare Partners LLC now owns 300,750 shares of the company’s stock valued at $3,359,000 after purchasing an additional 51,726 shares during the last quarter. TimesSquare Capital Management LLC purchased a new position in NewAmsterdam Pharma during the first quarter worth about $5,407,000. Opaleye Management Inc. purchased a new position in NewAmsterdam Pharma during the fourth quarter worth about $2,964,000. Jennison Associates LLC acquired a new stake in shares of NewAmsterdam Pharma during the first quarter valued at about $22,015,000. Finally, Janus Henderson Group PLC purchased a new stake in shares of NewAmsterdam Pharma in the 1st quarter valued at approximately $15,018,000. 89.89% of the stock is currently owned by hedge funds and other institutional investors.

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.