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

NewAmsterdam Pharma (NASDAQ:NAMS) shares saw unusually-strong trading volume on Thursday following insider buying activity. Approximately 1,197,625 shares changed hands during mid-day trading, an increase of 162% from the previous session’s volume of 457,044 shares.The stock last traded at $23.28 and had previously closed at $23.02.

Specifically, Director James N. Topper bought 4,005 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The stock was purchased at an average cost of $21.02 per share, for a total transaction of $84,185.10. Following the completion of the acquisition, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Analyst Ratings Changes

A number of research analysts recently issued reports on NAMS shares. HC Wainwright reiterated a “buy” rating and issued a $48.00 target price on shares of NewAmsterdam Pharma in a report on Tuesday, January 14th. Needham & Company LLC decreased their target price on NewAmsterdam Pharma from $46.00 to $42.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Royal Bank of Canada reiterated an “outperform” rating and issued a $40.00 target price on shares of NewAmsterdam Pharma in a report on Friday, January 24th. Finally, Scotiabank lifted their target price on NewAmsterdam Pharma from $47.00 to $52.00 and gave the company a “sector outperform” rating in a report on Thursday, February 27th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $43.80.

NewAmsterdam Pharma Trading Up 1.3 %

The company has a market capitalization of $2.20 billion, a PE ratio of -9.15 and a beta of -0.04. The stock has a fifty day simple moving average of $22.24 and a 200-day simple moving average of $20.43.

NewAmsterdam Pharma (NASDAQ:NAMS) last announced its quarterly earnings results on Wednesday, February 26th. The company reported ($0.95) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.47). The business had revenue of $12.77 million during the quarter, compared to the consensus estimate of $3.30 million. As a group, equities research analysts predict that NewAmsterdam Pharma will post -1.75 EPS for the current year.

Institutional Trading of NewAmsterdam Pharma

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Frazier Life Sciences Management L.P. increased its position in shares of NewAmsterdam Pharma by 23.8% during 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 purchasing an additional 3,061,224 shares in the last quarter. Bain Capital Life Sciences Investors LLC increased its position in shares of NewAmsterdam Pharma by 2.3% during the fourth quarter. Bain Capital Life Sciences Investors LLC now owns 10,719,110 shares of the company’s stock worth $275,481,000 after purchasing an additional 245,197 shares in the last quarter. RA Capital Management L.P. increased its position in shares of NewAmsterdam Pharma by 9.7% during the fourth quarter. RA Capital Management L.P. now owns 8,845,000 shares of the company’s stock worth $227,316,000 after purchasing an additional 781,000 shares in the last quarter. Deerfield Management Company L.P. Series C increased its position in shares of NewAmsterdam Pharma by 378.4% during the fourth 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. Finally, Jennison Associates LLC increased its position in shares of NewAmsterdam Pharma by 291.9% during the fourth quarter. Jennison Associates LLC now owns 3,998,541 shares of the company’s stock worth $102,763,000 after purchasing an additional 2,978,263 shares in the last quarter. Institutional investors and hedge funds 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.