NewAmsterdam Pharma (NASDAQ:NAMS) Trading Down 9.7% After Insider Selling

NewAmsterdam Pharma Company N.V. (NASDAQ:NAMS) shares traded down 9.7% during trading on Monday following insider selling activity. The stock traded as low as $24.60 and last traded at $24.38. 255,361 shares were traded during trading, a decline of 71% from the average session volume of 870,648 shares. The stock had previously closed at $27.00.

Specifically, CAO Louise Frederika Kooij sold 18,073 shares of NewAmsterdam Pharma stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $25.09, for a total transaction of $453,451.57. Following the completion of the sale, the chief accounting officer owned 15,000 shares of the company’s stock, valued at approximately $376,350. This trade represents a 54.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on NAMS. Citigroup started coverage on shares of NewAmsterdam Pharma in a research note on Tuesday, June 17th. They issued a “buy” rating and a $42.00 price objective for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $40.00 target price on shares of NewAmsterdam Pharma in a report on Thursday, June 12th. Stifel Nicolaus assumed coverage on shares of NewAmsterdam Pharma in a research report on Tuesday, June 10th. They issued a “buy” rating and a $44.00 price target for the company. Royal Bank Of Canada boosted their price target on NewAmsterdam Pharma from $38.00 to $39.00 and gave the company an “outperform” rating in a research note on Thursday, August 7th. Finally, Wells Fargo & Company began coverage on NewAmsterdam Pharma in a research note on Monday, August 25th. They set an “overweight” rating and a $45.00 price objective on the stock. Nine analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, NewAmsterdam Pharma has an average rating of “Moderate Buy” and a consensus target price of $41.55.

NewAmsterdam Pharma Stock Down 7.1%

The firm has a market capitalization of $2.83 billion, a P/E ratio of -15.49 and a beta of -0.01. The business’s 50 day moving average is $23.12 and its 200-day moving average is $20.62.

NewAmsterdam Pharma (NASDAQ:NAMS) last issued its earnings results on Wednesday, August 6th. The company reported ($0.15) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.52) by $0.37. NewAmsterdam Pharma had a negative return on equity of 27.27% and a negative net margin of 259.07%.The firm had revenue of $19.15 million for the quarter, compared to the consensus estimate of $1.44 million. Research analysts forecast that NewAmsterdam Pharma Company N.V. will post -1.75 EPS for the current fiscal year.

Institutional Investors Weigh In On NewAmsterdam Pharma

A number of hedge funds have recently made changes to their positions in the stock. Quarry LP acquired a new position in NewAmsterdam Pharma during the 1st quarter worth approximately $25,000. GF Fund Management CO. LTD. acquired a new position in shares of NewAmsterdam Pharma during the fourth quarter worth $50,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of NewAmsterdam Pharma by 19.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,675 shares of the company’s stock valued at $80,000 after acquiring an additional 596 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of NewAmsterdam Pharma by 130.4% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,990 shares of the company’s stock valued at $123,000 after acquiring an additional 3,390 shares in the last quarter. Finally, Avanza Fonder AB bought a new stake in NewAmsterdam Pharma during the 1st quarter worth $127,000. 89.89% of the stock is currently owned by institutional investors and hedge funds.

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.