NewAmsterdam Pharma (NASDAQ:NAMS) Hits New 12-Month High – What’s Next?

NewAmsterdam Pharma Company N.V. (NASDAQ:NAMS)’s stock price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $34.64 and last traded at $34.71, with a volume of 540756 shares traded. The stock had previously closed at $33.01.

Wall Street Analysts Forecast Growth

NAMS has been the topic of several research reports. Wells Fargo & Company initiated coverage on NewAmsterdam Pharma in a research report on Monday, August 25th. They issued an “overweight” rating and a $45.00 target price on the stock. Wall Street Zen raised NewAmsterdam Pharma from a “sell” rating to a “hold” rating in a research report on Saturday, July 5th. The Goldman Sachs Group started coverage on NewAmsterdam Pharma in a research report on Thursday, July 17th. They set a “neutral” rating and a $27.00 price objective on the stock. Royal Bank Of Canada lifted their price objective on NewAmsterdam Pharma from $38.00 to $39.00 and gave the company an “outperform” rating in a research report on Thursday, August 7th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NewAmsterdam Pharma in a research report on Wednesday. Eight analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $42.00.

NewAmsterdam Pharma Stock Performance

The stock has a market capitalization of $4.17 billion, a PE ratio of -22.87 and a beta of 0.02. The stock has a 50-day moving average price of $26.37 and a two-hundred day moving average price of $21.63.

NewAmsterdam Pharma (NASDAQ:NAMS) last issued its earnings results on Wednesday, August 6th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.52) by $0.37. The company had revenue of $19.15 million for 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%. As a group, equities analysts predict that NewAmsterdam Pharma Company N.V. will post -1.75 earnings per share for the current year.

Insiders Place Their Bets

In related news, COO Douglas F. Kling sold 51,043 shares of NewAmsterdam Pharma stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $21.10, for a total transaction of $1,077,007.30. Following the sale, the chief operating officer owned 44,000 shares of the company’s stock, valued at approximately $928,400. This trade represents a 53.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Johannes Jacob Piete Kastelein sold 50,000 shares of NewAmsterdam Pharma stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $24.29, for a total value of $1,214,500.00. Following the sale, the insider directly owned 119,302 shares in the company, valued at $2,897,845.58. This trade represents a 29.53% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders purchased 2,391 shares of company stock worth $58,424 and sold 324,954 shares worth $7,844,906. 20.84% of the stock is owned by company insiders.

Institutional Trading of NewAmsterdam Pharma

A number of large investors have recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. increased its stake in NewAmsterdam Pharma by 2.4% in the 2nd quarter. China Universal Asset Management Co. Ltd. now owns 22,549 shares of the company’s stock worth $408,000 after acquiring an additional 521 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in NewAmsterdam Pharma by 5.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,868 shares of the company’s stock worth $197,000 after acquiring an additional 544 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in 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 worth $80,000 after acquiring an additional 596 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in NewAmsterdam Pharma in the 3rd quarter worth approximately $30,000. Finally, Quarry LP bought a new stake in NewAmsterdam Pharma in the 1st quarter worth approximately $25,000. 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.