NewAmsterdam Pharma (NASDAQ:NAMS) Shares Gap Down – Here’s What Happened

NewAmsterdam Pharma Company N.V. (NASDAQ:NAMS)’s share price gapped down before the market opened on Monday . The stock had previously closed at $36.76, but opened at $35.11. NewAmsterdam Pharma shares last traded at $39.0910, with a volume of 194,401 shares.

Wall Street Analysts Forecast Growth

A number of analysts have commented on NAMS shares. Needham & Company LLC increased their price target on shares of NewAmsterdam Pharma from $40.00 to $46.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of NewAmsterdam Pharma in a research note on Wednesday, October 8th. Citigroup lifted their price target on shares of NewAmsterdam Pharma from $42.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, October 17th. HC Wainwright began coverage on NewAmsterdam Pharma in a report on Monday, October 20th. They set a “buy” rating and a $52.00 target price on the stock. Finally, Royal Bank Of Canada raised their target price on NewAmsterdam Pharma from $39.00 to $44.00 and gave the stock an “outperform” rating in a research note on Thursday. Eight research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, NewAmsterdam Pharma currently has a consensus rating of “Moderate Buy” and an average price target of $44.30.

NewAmsterdam Pharma Trading Up 5.8%

The firm has a 50-day moving average price of $31.43 and a 200-day moving average price of $24.51. The stock has a market capitalization of $4.38 billion, a PE ratio of -19.04 and a beta of 0.05.

NewAmsterdam Pharma (NASDAQ:NAMS) last announced its quarterly earnings data on Wednesday, November 5th. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.38) by ($0.03). NewAmsterdam Pharma had a negative return on equity of 28.30% and a negative net margin of 627.59%.The company had revenue of $0.35 million during the quarter, compared to the consensus estimate of $4.54 million. Sell-side analysts expect that NewAmsterdam Pharma Company N.V. will post -1.75 earnings per share for the current fiscal year.

Insider Activity at NewAmsterdam Pharma

In related news, Director James N. Topper acquired 1,260 shares of the company’s stock in a transaction that occurred on Monday, September 8th. The shares were acquired at an average price of $24.99 per share, with a total value of $31,487.40. Following the acquisition, the director owned 3,027,864 shares of the company’s stock, valued at approximately $75,666,321.36. This trade represents a 0.04% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 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 SEC filing for this sale provides additional information. In the last three months, insiders have sold 226,342 shares of company stock worth $5,748,019. 20.84% of the stock is owned by company insiders.

Institutional Investors Weigh In On NewAmsterdam Pharma

A number of large investors have recently modified their holdings of the stock. RA Capital Management L.P. lifted its position in 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 valued at $207,544,000 after buying an additional 1,293,938 shares during the period. Jennison Associates LLC boosted its stake in NewAmsterdam Pharma by 42.5% in the 3rd quarter. Jennison Associates LLC now owns 4,198,554 shares of the company’s stock worth $119,407,000 after purchasing an additional 1,252,451 shares in the last quarter. Wellington Management Group LLP grew its position in NewAmsterdam Pharma by 53.0% during the 1st quarter. Wellington Management Group LLP now owns 3,541,975 shares of the company’s stock valued at $72,504,000 after purchasing an additional 1,226,852 shares during the last quarter. Adage Capital Partners GP L.L.C. increased its stake in NewAmsterdam Pharma by 54.5% during the 2nd 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 purchasing an additional 1,062,359 shares in the last quarter. Finally, Maverick Capital Ltd. raised its holdings in NewAmsterdam Pharma by 178.8% in the second quarter. Maverick Capital Ltd. now owns 1,531,874 shares of the company’s stock worth $27,742,000 after buying an additional 982,405 shares during the last quarter. Institutional investors own 89.89% of the company’s stock.

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.