NewAmsterdam Pharma (NASDAQ:NAMS) Sets New 52-Week High – Here’s What Happened

NewAmsterdam Pharma Company N.V. (NASDAQ:NAMS)’s stock price reached a new 52-week high on Friday . The stock traded as high as $27.35 and last traded at $26.60, with a volume of 2254819 shares trading hands. The stock had previously closed at $26.90.

Analysts Set New Price Targets

Several analysts have recently weighed in on NAMS shares. Needham & Company LLC reiterated a “buy” rating and issued a $40.00 price objective on shares of NewAmsterdam Pharma in a research note on Thursday, June 12th. Citigroup started coverage on shares of NewAmsterdam Pharma in a research note on Tuesday, June 17th. They set a “buy” rating and a $42.00 price target for the company. Wall Street Zen upgraded shares of NewAmsterdam Pharma from a “sell” rating to a “hold” rating in a research note on Saturday, July 5th. Royal Bank Of Canada boosted their price target on shares of NewAmsterdam Pharma from $38.00 to $39.00 and gave the company an “outperform” rating in a research note on Thursday, August 7th. Finally, The Goldman Sachs Group started coverage on shares of NewAmsterdam Pharma in a research note on Thursday, July 17th. They set a “neutral” rating and a $27.00 price target for the company. Nine investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $41.55.

NewAmsterdam Pharma Price Performance

The firm has a market capitalization of $2.72 billion, a PE ratio of -14.93 and a beta of -0.01. The company’s fifty day simple moving average is $23.67 and its 200 day simple moving average is $20.82.

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

Insider Buying and Selling at NewAmsterdam Pharma

In other NewAmsterdam Pharma news, COO Douglas F. Kling sold 51,043 shares of the company’s stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $21.10, for a total transaction of $1,077,007.30. Following the sale, the chief operating officer directly owned 44,000 shares of the company’s stock, valued at $928,400. This represents a 53.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Louise Frederika Kooij sold 150,000 shares of the stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $25.83, for a total transaction of $3,874,500.00. Following the completion of the sale, the chief accounting officer directly owned 15,000 shares in the company, valued at approximately $387,450. The trade was a 90.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders acquired 14,095 shares of company stock valued at $279,621 and sold 424,954 shares valued at $9,773,906. 20.84% of the stock is currently owned by insiders.

Institutional Investors Weigh In On NewAmsterdam Pharma

A number of institutional investors and hedge funds have recently modified their holdings of NAMS. Quarry LP purchased a new stake in shares of NewAmsterdam Pharma in the first quarter worth about $25,000. GF Fund Management CO. LTD. purchased a new stake in shares of NewAmsterdam Pharma in the fourth quarter worth about $50,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of NewAmsterdam Pharma by 18.0% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,337 shares of the company’s stock worth $79,000 after buying an additional 662 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of NewAmsterdam Pharma by 130.4% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,990 shares of the company’s stock worth $123,000 after buying an additional 3,390 shares in the last quarter. Finally, Avanza Fonder AB purchased a new stake in shares of NewAmsterdam Pharma in the first quarter worth about $127,000. 89.89% of the stock is owned by hedge funds and other institutional investors.

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.