NewAmsterdam Pharma (NASDAQ:NAMS) Stock Price Up 3.9% – What’s Next?

NewAmsterdam Pharma (NASDAQ:NAMS) shares rose 3.9% on Tuesday . The stock traded as high as $21.36 and last traded at $21.07. Approximately 324,872 shares changed hands during trading, a decline of 26% from the average daily volume of 440,532 shares. The stock had previously closed at $20.27.

Wall Street Analysts Forecast Growth

NAMS has been the topic of a number of analyst reports. Needham & Company LLC reduced their price objective on shares of NewAmsterdam Pharma from $46.00 to $42.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. HC Wainwright reissued a “buy” rating and issued a $48.00 price objective on shares of NewAmsterdam Pharma in a research note on Tuesday, January 14th. Scotiabank raised their target price on NewAmsterdam Pharma from $47.00 to $52.00 and gave the company a “sector outperform” rating in a report on Thursday, February 27th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $40.00 price target on shares of NewAmsterdam Pharma in a research note on Friday, January 24th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $43.80.

NewAmsterdam Pharma Stock Up 6.3 %

The stock has a market cap of $1.99 billion, a P/E ratio of -8.34 and a beta of -0.06. The business’s 50 day simple moving average is $22.44 and its two-hundred day simple moving average is $20.35.

NewAmsterdam Pharma (NASDAQ:NAMS) last issued its earnings results on Wednesday, February 26th. The company reported ($0.95) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.47). The business had revenue of $12.77 million during the quarter, compared to analyst estimates of $3.30 million. As a group, research analysts forecast that NewAmsterdam Pharma will post -1.75 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder Nap B.V. Forgrowth sold 29,846 shares of the firm’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $25.54, for a total transaction of $762,266.84. Following the completion of the transaction, the insider now owns 10,656,172 shares of the company’s stock, valued at approximately $272,158,632.88. This trade represents a 0.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 404,927 shares of company stock worth $10,390,787 in the last ninety days. Company insiders own 19.50% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of NAMS. Geode Capital Management LLC raised its position in shares of NewAmsterdam Pharma by 1.6% during the third quarter. Geode Capital Management LLC now owns 86,322 shares of the company’s stock worth $1,433,000 after acquiring an additional 1,399 shares during the last quarter. GF Fund Management CO. LTD. acquired a new stake in NewAmsterdam Pharma during the 4th quarter valued at approximately $50,000. National Bank of Canada FI bought a new position in NewAmsterdam Pharma during the 4th quarter worth approximately $51,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of NewAmsterdam Pharma in the 4th quarter worth approximately $80,000. Finally, Legal & General Group Plc boosted its stake in shares of NewAmsterdam Pharma by 24.8% in the 4th quarter. Legal & General Group Plc now owns 22,946 shares of the company’s stock valued at $590,000 after purchasing an additional 4,556 shares during the last quarter. 89.89% of the stock is owned by institutional investors.

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.