NewAmsterdam Pharma (NASDAQ:NAMS) Sets New 52-Week Low – Here’s Why

NewAmsterdam Pharma (NASDAQ:NAMS)’s stock price hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $14.06 and last traded at $15.38, with a volume of 885994 shares. The stock had previously closed at $15.81.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on NAMS. Scotiabank raised their price objective on NewAmsterdam Pharma from $47.00 to $52.00 and gave the company a “sector outperform” rating in a report on Thursday, February 27th. HC Wainwright restated a “buy” rating and set a $48.00 price target on shares of NewAmsterdam Pharma in a report on Tuesday, January 14th. UBS Group set a $41.00 price objective on shares of NewAmsterdam Pharma in a report on Monday, March 3rd. Royal Bank of Canada reissued an “outperform” rating and set a $40.00 target price on shares of NewAmsterdam Pharma in a report on Friday, January 24th. Finally, Needham & Company LLC dropped their price target on shares of NewAmsterdam Pharma from $46.00 to $42.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $43.33.

NewAmsterdam Pharma Trading Up 0.3 %

The business’s 50-day simple moving average is $21.00 and its two-hundred day simple moving average is $21.35. The firm has a market cap of $1.74 billion, a price-to-earnings ratio of -6.10 and a beta of -0.01.

NewAmsterdam Pharma (NASDAQ:NAMS) last posted its quarterly earnings data on Wednesday, February 26th. The company reported ($0.95) earnings per share for the quarter, missing the consensus estimate of ($0.48) by ($0.47). The firm had revenue of $12.77 million for the quarter, compared to the consensus estimate of $3.30 million. On average, analysts forecast that NewAmsterdam Pharma will post -1.75 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other NewAmsterdam Pharma news, CAO Louise Frederika Kooij sold 150,000 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $20.37, for a total transaction of $3,055,500.00. Following the transaction, the chief accounting officer now directly owns 15,000 shares in the company, valued at approximately $305,550. This represents a 90.91 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director James N. Topper acquired 4,005 shares of NewAmsterdam Pharma stock in a transaction dated Tuesday, March 4th. The shares were bought at an average cost of $21.02 per share, with a total value of $84,185.10. Following the transaction, the director now owns 3,012,434 shares in the company, valued at approximately $63,321,362.68. This trade represents a 0.13 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 19.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of NAMS. Deerfield Management Company L.P. Series C boosted its position in shares of NewAmsterdam Pharma by 378.4% during the 4th quarter. Deerfield Management Company L.P. Series C now owns 4,314,340 shares of the company’s stock worth $110,879,000 after purchasing an additional 3,412,590 shares in the last quarter. Frazier Life Sciences Management L.P. boosted its holdings in NewAmsterdam Pharma by 23.8% in the fourth quarter. Frazier Life Sciences Management L.P. now owns 15,916,418 shares of the company’s stock worth $409,052,000 after acquiring an additional 3,061,224 shares in the last quarter. Jennison Associates LLC boosted its holdings in NewAmsterdam Pharma by 291.9% in the fourth quarter. Jennison Associates LLC now owns 3,998,541 shares of the company’s stock worth $102,763,000 after acquiring an additional 2,978,263 shares in the last quarter. Wellington Management Group LLP grew its stake in NewAmsterdam Pharma by 2,410.4% in the fourth quarter. Wellington Management Group LLP now owns 2,315,123 shares of the company’s stock valued at $59,499,000 after acquiring an additional 2,222,900 shares during the period. Finally, Capital International Investors bought a new stake in shares of NewAmsterdam Pharma during the fourth quarter valued at approximately $53,007,000. 89.89% of the stock is owned by 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.