NewAmsterdam Pharma (NASDAQ:NAMS) Shares Gap Up – Here’s Why

NewAmsterdam Pharma Company N.V. (NASDAQ:NAMS) shares gapped up prior to trading on Friday . The stock had previously closed at $18.20, but opened at $19.01. NewAmsterdam Pharma shares last traded at $18.30, with a volume of 69,797 shares trading hands.

Analyst Ratings Changes

NAMS has been the subject of several research analyst reports. UBS Group set a $41.00 price objective on NewAmsterdam Pharma in a research report on Monday, March 3rd. Scotiabank lifted their price objective on NewAmsterdam Pharma from $47.00 to $52.00 and gave the company a “sector outperform” rating in a research report on Thursday, February 27th. Stifel Nicolaus started coverage on NewAmsterdam Pharma in a research note on Tuesday, June 10th. They issued a “buy” rating and a $44.00 target price for the company. Cantor Fitzgerald started coverage on NewAmsterdam Pharma in a research note on Wednesday, June 4th. They issued an “overweight” rating and a $42.00 target price for the company. Finally, Needham & Company LLC reissued a “buy” rating and issued a $40.00 target price on shares of NewAmsterdam Pharma in a research note on Thursday, June 12th. One analyst has rated the stock with a sell rating and eight have issued a buy rating to the company. According to MarketBeat, NewAmsterdam Pharma currently has a consensus rating of “Moderate Buy” and an average target price of $42.89.

NewAmsterdam Pharma Stock Down 1.3%

The company has a market capitalization of $2.02 billion, a P/E ratio of -9.55 and a beta of -0.03. The business has a fifty day moving average price of $18.51 and a 200 day moving average price of $20.82.

NewAmsterdam Pharma (NASDAQ:NAMS) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.49) EPS for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.04). The firm had revenue of $2.98 million during the quarter, compared to the consensus estimate of $1.46 million. NewAmsterdam Pharma had a negative net margin of 397.45% and a negative return on equity of 37.34%. As a group, equities analysts forecast that NewAmsterdam Pharma Company N.V. will post -1.75 earnings per share for the current year.

Insider Activity

In other NewAmsterdam Pharma news, Director James N. Topper acquired 8,584 shares of the company’s stock in a transaction on Monday, June 16th. The shares were purchased at an average price of $19.50 per share, for a total transaction of $167,388.00. Following the completion of the purchase, the director now directly owns 3,022,153 shares of the company’s stock, valued at approximately $58,931,983.50. This represents a 0.28% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Douglas F. Kling sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $19.29, for a total value of $1,929,000.00. Following the completion of the sale, the chief operating officer now owns 44,000 shares in the company, valued at $848,760. This represents a 69.44% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 20.84% of the company’s stock.

Institutional Trading of NewAmsterdam Pharma

Institutional investors and hedge funds have recently bought and sold shares of the business. Quarry LP bought a new stake in NewAmsterdam Pharma in the first quarter valued at approximately $25,000. GF Fund Management CO. LTD. bought a new stake in NewAmsterdam Pharma in the fourth quarter valued at approximately $50,000. National Bank of Canada FI bought a new stake in NewAmsterdam Pharma in the fourth quarter valued at approximately $51,000. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of NewAmsterdam Pharma by 19.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,675 shares of the company’s stock worth $80,000 after purchasing an additional 596 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of NewAmsterdam Pharma by 130.4% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,990 shares of the company’s stock worth $123,000 after purchasing an additional 3,390 shares during the period. 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.