Short Interest in NewAmsterdam Pharma (NASDAQ:NAMS) Increases By 42.8%

NewAmsterdam Pharma (NASDAQ:NAMS) was the recipient of a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 4,340,000 shares, an increase of 42.8% from the February 28th total of 3,040,000 shares. Currently, 7.5% of the shares of the company are sold short. Based on an average daily trading volume, of 843,800 shares, the days-to-cover ratio is currently 5.1 days.

Insiders Place Their Bets

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

Hedge Funds Weigh In On NewAmsterdam Pharma

Hedge funds and other institutional investors have recently made changes to their positions in the company. FMR LLC grew its stake in shares of NewAmsterdam Pharma by 35.6% during the 3rd quarter. FMR LLC now owns 330,412 shares of the company’s stock worth $5,485,000 after acquiring an additional 86,712 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of NewAmsterdam Pharma by 1,231.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 239,283 shares of the company’s stock worth $3,972,000 after purchasing an additional 221,305 shares during the period. Walleye Capital LLC acquired a new stake in NewAmsterdam Pharma in the third quarter valued at about $779,000. Bellevue Group AG bought a new position in NewAmsterdam Pharma in the third quarter valued at about $128,000. Finally, ArrowMark Colorado Holdings LLC grew its holdings in NewAmsterdam Pharma by 19.5% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 354,975 shares of the company’s stock worth $5,893,000 after acquiring an additional 57,806 shares during the last quarter. 89.89% of the stock is owned by institutional investors.

NewAmsterdam Pharma Price Performance

NASDAQ:NAMS traded down $1.29 during trading hours on Monday, reaching $20.47. The company’s stock had a trading volume of 1,518,450 shares, compared to its average volume of 536,489. NewAmsterdam Pharma has a one year low of $15.19 and a one year high of $27.29. The business’s 50-day moving average is $21.66 and its 200-day moving average is $21.27. The company has a market cap of $2.25 billion, a price-to-earnings ratio of -7.87 and a beta of -0.04.

NewAmsterdam Pharma (NASDAQ:NAMS) last announced its quarterly earnings results on Wednesday, February 26th. The company reported ($0.95) EPS for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.47). The business had revenue of $12.77 million for the quarter, compared to analysts’ expectations of $3.30 million. On average, sell-side analysts predict that NewAmsterdam Pharma will post -1.75 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. HC Wainwright restated a “buy” rating and set a $48.00 price objective on shares of NewAmsterdam Pharma in a research note on Tuesday, January 14th. Scotiabank increased their price objective on shares of NewAmsterdam Pharma from $47.00 to $52.00 and gave the company a “sector outperform” rating in a report on Thursday, February 27th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $40.00 price target on shares of NewAmsterdam Pharma in a research note on Friday, January 24th. Needham & Company LLC reduced their price objective on shares of NewAmsterdam Pharma from $46.00 to $42.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Finally, UBS Group set a $41.00 target price on NewAmsterdam Pharma in a report on Monday, March 3rd. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, NewAmsterdam Pharma currently has an average rating of “Buy” and an average price target of $43.33.

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.