NewAmsterdam Pharma (NASDAQ:NAMS) Sets New 52-Week Low – What’s Next?

NewAmsterdam Pharma Company N.V. (NASDAQ:NAMS)’s stock price hit a new 52-week low during mid-day trading on Thursday. The company traded as low as $20.95 and last traded at $21.1560, with a volume of 543,745 shares changing hands. The stock had previously closed at $22.13.

Wall Street Analysts Forecast Growth

NAMS has been the subject of several recent research reports. HC Wainwright reiterated a “buy” rating and set a $52.00 price objective on shares of NewAmsterdam Pharma in a report on Tuesday, September 8th. BMO Capital Markets began coverage on NewAmsterdam Pharma in a research note on Monday, July 20th. They set an “outperform” rating and a $58.00 price target for the company. Royal Bank Of Canada reduced their price target on NewAmsterdam Pharma from $50.00 to $42.00 and set an “outperform” rating for the company in a report on Monday, October 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of NewAmsterdam Pharma in a research note on Friday, July 17th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $45.00 price objective on shares of NewAmsterdam Pharma in a report on Monday, July 20th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.00.

NewAmsterdam Pharma Trading Up 1.5%

The stock has a market cap of $2.58 billion, a P/E ratio of -9.99 and a beta of 0.10. The firm’s fifty day moving average is $24.91 and its 200 day moving average is $29.95.

NewAmsterdam Pharma (NASDAQ:NAMS) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.48) by ($0.04). The business had revenue of $3.70 million during the quarter, compared to analyst estimates of $2.83 million. NewAmsterdam Pharma had a negative net margin of 3,644.21% and a negative return on equity of 34.81%. Research analysts forecast that NewAmsterdam Pharma Company N.V. will post -1.82 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director John W. Smither sold 1,600 shares of the firm’s stock in a transaction on Friday, September 4th. The shares were sold at an average price of $25.32, for a total value of $40,512.00. Following the sale, the director owned 8,760 shares in the company, valued at approximately $221,803.20. This trade represents a 15.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Louise Kooij sold 105,000 shares of the business’s stock in a transaction on Monday, July 20th. The stock was sold at an average price of $30.34, for a total transaction of $3,185,700.00. Following the transaction, the chief accounting officer directly owned 24,353 shares in the company, valued at $738,870.02. This trade represents a 81.17% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 281,846 shares of company stock worth $7,847,619. Corporate insiders own 12.74% of the company’s stock.

Institutional Trading of NewAmsterdam Pharma

Several hedge funds and other institutional investors have recently bought and sold shares of NAMS. Bank of America Corp DE increased its stake in NewAmsterdam Pharma by 84.4% during the first quarter. Bank of America Corp DE now owns 847,089 shares of the company’s stock valued at $27,115,000 after acquiring an additional 387,698 shares during the period. Frazier Life Sciences Management L.P. lifted its position in shares of NewAmsterdam Pharma by 6.8% in the 2nd quarter. Frazier Life Sciences Management L.P. now owns 18,088,902 shares of the company’s stock worth $613,033,000 after acquiring an additional 1,145,128 shares during the period. Artia Global Partners LP lifted its position in shares of NewAmsterdam Pharma by 158.6% in the 4th quarter. Artia Global Partners LP now owns 503,936 shares of the company’s stock worth $17,678,000 after acquiring an additional 309,098 shares during the period. Squarepoint Ops LLC grew its holdings in shares of NewAmsterdam Pharma by 113.9% during the 2nd quarter. Squarepoint Ops LLC now owns 92,026 shares of the company’s stock worth $3,119,000 after purchasing an additional 49,005 shares in the last quarter. Finally, Nicholas Investment Partners LP grew its holdings in shares of NewAmsterdam Pharma by 20.2% during the 4th quarter. Nicholas Investment Partners LP now owns 213,419 shares of the company’s stock worth $7,487,000 after purchasing an additional 35,881 shares in the last quarter. 89.89% of the stock is currently owned by institutional investors and hedge funds.

About NewAmsterdam Pharma

NewAmsterdam Pharma is a clinical-stage biopharmaceutical company focused on developing therapies for cardiometabolic diseases, with an emphasis on improving the treatment of dyslipidemia and reducing cardiovascular risk. The company’s lead investigational product is obicetrapib, an oral cholesteryl ester transfer protein (CETP) inhibitor designed to lower low-density lipoprotein cholesterol and potentially address other lipid-related abnormalities.

Obicetrapib is being studied as an adjunct to existing lipid-lowering therapies, including in patients who have not achieved adequate cholesterol control and people with heterozygous familial hypercholesterolemia.