NewAmsterdam Pharma (NASDAQ:NAMS) Short Interest Up 23.0% in March

NewAmsterdam Pharma (NASDAQ:NAMS) was the recipient of a significant increase in short interest during the month of March. As of March 31st, there was short interest totalling 5,340,000 shares, an increase of 23.0% from the March 15th total of 4,340,000 shares. Approximately 9.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 996,300 shares, the days-to-cover ratio is presently 5.4 days.

Insiders Place Their Bets

In other NewAmsterdam Pharma news, CAO Louise Frederika Kooij sold 150,000 shares of the stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $20.37, for a total transaction of $3,055,500.00. Following the transaction, the chief accounting officer now directly owns 15,000 shares of the company’s stock, valued at $305,550. This represents a 90.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director James N. Topper purchased 1,135 shares of the firm’s stock in a transaction dated Wednesday, March 26th. The shares were bought at an average price of $22.49 per share, with a total value of $25,526.15. Following the purchase, the director now owns 3,013,569 shares in the company, valued at $67,775,166.81. This represents a 0.04 % increase in their position. The disclosure for this purchase can be found here. 19.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Handelsbanken Fonder AB grew its holdings in NewAmsterdam Pharma by 38.7% during the 1st quarter. Handelsbanken Fonder AB now owns 260,000 shares of the company’s stock worth $5,322,000 after acquiring an additional 72,596 shares during the last quarter. Avanza Fonder AB acquired a new stake in shares of NewAmsterdam Pharma in the first quarter valued at approximately $127,000. Wellington Management Group LLP lifted its holdings in NewAmsterdam Pharma by 2,410.4% during the 4th quarter. Wellington Management Group LLP now owns 2,315,123 shares of the company’s stock worth $59,499,000 after buying an additional 2,222,900 shares in the last quarter. California State Teachers Retirement System increased its stake in shares of NewAmsterdam Pharma by 23.5% in the 4th quarter. California State Teachers Retirement System now owns 19,404 shares of the company’s stock valued at $499,000 after buying an additional 3,694 shares during the period. Finally, GF Fund Management CO. LTD. acquired a new position in shares of NewAmsterdam Pharma during the fourth quarter valued at $50,000. 89.89% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on NAMS. UBS Group set a $41.00 price objective on shares of NewAmsterdam Pharma in a research note on Monday, March 3rd. HC Wainwright reiterated a “buy” rating and issued a $48.00 price objective on shares of NewAmsterdam Pharma in a research note on Tuesday, January 14th. Scotiabank boosted their price objective on NewAmsterdam Pharma from $47.00 to $52.00 and gave the stock a “sector outperform” rating in a research report on Thursday, February 27th. Needham & Company LLC reaffirmed a “buy” rating and issued a $42.00 target price on shares of NewAmsterdam Pharma in a report on Tuesday, April 8th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $40.00 price target on shares of NewAmsterdam Pharma in a report on Friday, January 24th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $43.33.

NewAmsterdam Pharma Price Performance

Shares of NewAmsterdam Pharma stock traded up $0.31 during trading on Friday, hitting $16.34. 277,248 shares of the company’s stock traded hands, compared to its average volume of 588,909. NewAmsterdam Pharma has a twelve month low of $14.06 and a twelve month high of $27.29. The firm’s fifty day moving average price is $19.87 and its 200 day moving average price is $21.24. The company has a market cap of $1.79 billion, a PE ratio of -6.28 and a beta of -0.01.

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

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.