NewAmsterdam Pharma (NASDAQ:NAMS) Sees Strong Trading Volume After Insider Buying Activity

NewAmsterdam Pharma Company N.V. (NASDAQ:NAMS) shares saw unusually-strong trading volume on Thursday following insider buying activity. Approximately 978,870 shares were traded during trading, an increase of 11% from the previous session’s volume of 885,813 shares.The stock last traded at $27.16 and had previously closed at $26.90.

Specifically, Director James N. Topper purchased 1,260 shares of the company’s stock in a transaction on Monday, September 8th. The shares were purchased at an average cost of $24.99 per share, with a total value of $31,487.40. Following the completion of the purchase, the director owned 3,027,864 shares in the company, valued at $75,666,321.36. This represents a 0.04% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Analysts Set New Price Targets

Several equities analysts have issued reports on NAMS shares. Citigroup started coverage on NewAmsterdam Pharma in a research note on Tuesday, June 17th. They issued a “buy” rating and a $42.00 price target on the stock. Stifel Nicolaus started coverage on NewAmsterdam Pharma in a research note on Tuesday, June 10th. They issued a “buy” rating and a $44.00 price target on the stock. Cantor Fitzgerald started coverage on NewAmsterdam Pharma in a research note on Wednesday, June 4th. They issued an “overweight” rating and a $42.00 price target on the stock. The Goldman Sachs Group started coverage on NewAmsterdam Pharma in a research note on Thursday, July 17th. They issued a “neutral” rating and a $27.00 price target on the stock. Finally, Needham & Company LLC reissued a “buy” rating and issued a $40.00 price target on shares of NewAmsterdam Pharma in a research note on Thursday, June 12th. Nine research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $41.55.

NewAmsterdam Pharma Trading Down 1.1%

The firm has a market capitalization of $3.00 billion, a PE ratio of -16.42 and a beta of -0.01. The business has a 50-day moving average of $23.58 and a 200 day moving average of $20.77.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of NewAmsterdam Pharma by 19.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,675 shares of the company’s stock worth $80,000 after acquiring an additional 596 shares during the period. Northern Trust Corp purchased a new stake in shares of NewAmsterdam Pharma in the 4th quarter valued at about $556,000. Arizona State Retirement System purchased a new stake in shares of NewAmsterdam Pharma in the 1st quarter valued at about $215,000. California State Teachers Retirement System raised its holdings in shares of NewAmsterdam Pharma by 23.5% in the 4th quarter. California State Teachers Retirement System now owns 19,404 shares of the company’s stock valued at $499,000 after acquiring an additional 3,694 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised 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 buying an additional 3,390 shares in the last quarter. 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.