NewAmsterdam Pharma (NASDAQ:NAMS) Reaches New 12-Month High – Here’s What Happened

Shares of NewAmsterdam Pharma Company N.V. (NASDAQ:NAMS) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $29.70 and last traded at $29.36, with a volume of 884502 shares changing hands. The stock had previously closed at $28.44.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on NAMS shares. Cantor Fitzgerald started coverage on NewAmsterdam Pharma in a research report on Wednesday, June 4th. They issued an “overweight” rating and a $42.00 price target for the company. Royal Bank Of Canada upped their price target on NewAmsterdam Pharma from $38.00 to $39.00 and gave the company an “outperform” rating in a research report on Thursday, August 7th. Wells Fargo & Company started coverage on NewAmsterdam Pharma in a research report on Monday, August 25th. They issued an “overweight” rating and a $45.00 price target for the company. Citigroup started coverage on NewAmsterdam Pharma in a research report on Tuesday, June 17th. They issued a “buy” rating and a $42.00 price target for the company. Finally, Wall Street Zen upgraded NewAmsterdam Pharma from a “sell” rating to a “hold” rating in a research report on Saturday, July 5th. Eight analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, NewAmsterdam Pharma presently has an average rating of “Moderate Buy” and an average price target of $42.00.

NewAmsterdam Pharma Stock Up 3.2%

The company has a market capitalization of $3.31 billion, a PE ratio of -18.12 and a beta of 0.02. The firm has a 50-day moving average of $24.96 and a two-hundred day moving average of $21.20.

NewAmsterdam Pharma (NASDAQ:NAMS) last issued its quarterly earnings data on Wednesday, August 6th. The company reported ($0.15) earnings per share for the quarter, topping the consensus estimate of ($0.52) by $0.37. The company had revenue of $19.15 million during the quarter, compared to analyst estimates 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, equities research analysts expect that NewAmsterdam Pharma Company N.V. will post -1.75 EPS for the current year.

Insiders Place Their Bets

In other news, COO Douglas F. Kling sold 51,043 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief operating officer directly owned 44,000 shares in the company, valued at $928,400. This trade represents a 53.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Louise Frederika Kooij sold 150,000 shares of the firm’s stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $25.83, for a total value of $3,874,500.00. Following the transaction, the chief accounting officer owned 15,000 shares of the company’s stock, valued at approximately $387,450. This represents a 90.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have purchased 2,391 shares of company stock valued at $58,424 and have sold 324,954 shares valued at $7,844,906. Company insiders own 20.84% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Frazier Life Sciences Management L.P. boosted its position in shares of NewAmsterdam Pharma by 3.0% during the second quarter. Frazier Life Sciences Management L.P. now owns 16,607,074 shares of the company’s stock worth $300,754,000 after buying an additional 490,656 shares during the period. RA Capital Management L.P. boosted its position in shares of NewAmsterdam Pharma by 14.6% during the first quarter. RA Capital Management L.P. now owns 10,138,938 shares of the company’s stock worth $207,544,000 after buying an additional 1,293,938 shares during the period. Wellington Management Group LLP boosted its position in shares of NewAmsterdam Pharma by 53.0% during the first quarter. Wellington Management Group LLP now owns 3,541,975 shares of the company’s stock worth $72,504,000 after buying an additional 1,226,852 shares during the period. Adage Capital Partners GP L.L.C. raised its stake in shares of NewAmsterdam Pharma by 54.5% in the second quarter. Adage Capital Partners GP L.L.C. now owns 3,013,009 shares of the company’s stock valued at $54,566,000 after acquiring an additional 1,062,359 shares in the last quarter. Finally, Woodline Partners LP raised its stake in shares of NewAmsterdam Pharma by 0.5% in the first quarter. Woodline Partners LP now owns 2,442,397 shares of the company’s stock valued at $49,996,000 after acquiring an additional 11,615 shares in the last quarter. 89.89% of the stock is currently owned by hedge funds and other institutional investors.

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.