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

Shares of NewAmsterdam Pharma Company N.V. (NASDAQ:NAMS) gapped down prior to trading on Wednesday . The stock had previously closed at $38.33, but opened at $36.87. NewAmsterdam Pharma shares last traded at $36.82, with a volume of 425,528 shares trading hands.

Analysts Set New Price Targets

Several brokerages have issued reports on NAMS. HC Wainwright began coverage on shares of NewAmsterdam Pharma in a research note on Monday, October 20th. They set a “buy” rating and a $52.00 target price on the stock. Needham & Company LLC raised their price target on shares of NewAmsterdam Pharma from $40.00 to $46.00 and gave the stock a “buy” rating in a research note on Wednesday, November 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NewAmsterdam Pharma in a research note on Wednesday, October 8th. The Goldman Sachs Group raised their target price on shares of NewAmsterdam Pharma from $30.00 to $37.00 and gave the stock a “neutral” rating in a research note on Tuesday. Finally, Wells Fargo & Company started coverage on NewAmsterdam Pharma in a report on Monday, August 25th. They set an “overweight” rating and a $45.00 target price on the stock. Eight equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $45.30.

NewAmsterdam Pharma Price Performance

The stock has a market cap of $4.07 billion, a PE ratio of -17.49 and a beta of 0.05. The stock’s fifty day moving average is $36.39 and its 200-day moving average is $27.06.

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

Insider Buying and Selling

In related news, CAO Louise Frederika Kooij sold 150,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer directly owned 15,000 shares in the company, valued at approximately $387,450. This represents a 90.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director James N. Topper bought 1,260 shares of the business’s stock in a transaction on Monday, September 8th. The shares were acquired at an average cost of $24.99 per share, with a total value of $31,487.40. Following the purchase, the director owned 3,027,864 shares of the company’s stock, valued at $75,666,321.36. The trade was a 0.04% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 20.84% of the company’s stock.

Institutional Investors Weigh In On NewAmsterdam Pharma

Institutional investors have recently made changes to their positions in the stock. Capital World Investors raised its stake in shares of NewAmsterdam Pharma by 17.1% in the 3rd quarter. Capital World Investors now owns 9,822,711 shares of the company’s stock valued at $279,358,000 after acquiring an additional 1,434,986 shares during the period. RA Capital Management L.P. increased its holdings in NewAmsterdam Pharma by 14.6% in the 1st quarter. RA Capital Management L.P. now owns 10,138,938 shares of the company’s stock valued at $207,544,000 after purchasing an additional 1,293,938 shares during the last quarter. Jennison Associates LLC raised its position in NewAmsterdam Pharma by 42.5% in the third quarter. Jennison Associates LLC now owns 4,198,554 shares of the company’s stock valued at $119,407,000 after purchasing an additional 1,252,451 shares during the period. Wellington Management Group LLP raised its position in NewAmsterdam Pharma by 53.0% in the first 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 period. Finally, Duquesne Family Office LLC lifted its stake in NewAmsterdam Pharma by 131.2% during the third quarter. Duquesne Family Office LLC now owns 1,923,700 shares of the company’s stock worth $54,710,000 after purchasing an additional 1,091,525 shares in the last quarter. 89.89% of the stock is currently owned by institutional investors and hedge funds.

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.