NewAmsterdam Pharma (NASDAQ:NAMS) CEO Michael Davidson Buys 10,000 Shares of Stock

NewAmsterdam Pharma Company N.V. (NASDAQ:NAMS) CEO Michael Davidson purchased 10,000 shares of the stock in a transaction dated Monday, September 14th. The shares were acquired at an average cost of $22.65 per share, for a total transaction of $226,500.00. Following the completion of the acquisition, the chief executive officer owned 792,923 shares of the company’s stock, valued at approximately $17,959,705.95. This represents a 1.28% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

NewAmsterdam Pharma Price Performance

NewAmsterdam Pharma stock opened at $21.16 on Wednesday. NewAmsterdam Pharma Company N.V. has a one year low of $21.08 and a one year high of $42.21. The business’s fifty day moving average is $28.03 and its 200 day moving average is $30.99. The stock has a market capitalization of $2.53 billion, a PE ratio of -9.80 and a beta of 0.09.

NewAmsterdam Pharma (NASDAQ:NAMS) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($0.52) earnings per share for the quarter, missing the consensus estimate of ($0.48) by ($0.04). NewAmsterdam Pharma had a negative net margin of 3,644.21% and a negative return on equity of 34.81%. The company had revenue of $3.70 million for the quarter, compared to analysts’ expectations of $2.83 million. As a group, sell-side analysts expect that NewAmsterdam Pharma Company N.V. will post -1.82 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on NAMS. BMO Capital Markets initiated coverage on NewAmsterdam Pharma in a report on Monday, July 20th. They issued an “outperform” rating and a $58.00 price objective for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of NewAmsterdam Pharma in a research report on Friday, July 17th. HC Wainwright restated a “buy” rating and set a $52.00 price target on shares of NewAmsterdam Pharma in a research note on Tuesday, September 8th. Jefferies Financial Group restated a “buy” rating and set a $45.00 price target on shares of NewAmsterdam Pharma in a research note on Monday, July 20th. Finally, Royal Bank Of Canada reduced their price target on shares of NewAmsterdam Pharma from $51.00 to $50.00 and set an “outperform” rating for the company in a research report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $49.73.

Institutional Investors Weigh In On NewAmsterdam Pharma

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Frazier Life Sciences Management L.P. grew its holdings in NewAmsterdam Pharma by 6.8% during the second quarter. Frazier Life Sciences Management L.P. now owns 18,088,902 shares of the company’s stock valued at $613,033,000 after purchasing an additional 1,145,128 shares during the period. Capital World Investors lifted its position in shares of NewAmsterdam Pharma by 1.6% during the 4th quarter. Capital World Investors now owns 9,984,000 shares of the company’s stock valued at $350,239,000 after buying an additional 161,289 shares in the last quarter. Maverick Capital Ltd. lifted its position in shares of NewAmsterdam Pharma by 15.4% during the 1st quarter. Maverick Capital Ltd. now owns 2,186,402 shares of the company’s stock valued at $69,987,000 after buying an additional 292,176 shares in the last quarter. Castle Hook Partners LP bought a new position in shares of NewAmsterdam Pharma during the 4th quarter valued at approximately $38,062,000. Finally, First Turn Management LLC grew its stake in shares of NewAmsterdam Pharma by 24.6% during the 4th quarter. First Turn Management LLC now owns 893,473 shares of the company’s stock valued at $31,343,000 after acquiring an additional 176,502 shares during the period. 89.89% of the stock is currently owned by hedge funds and other institutional investors.

NewAmsterdam Pharma Company Profile

NewAmsterdam Pharma Company N.V. is a clinical-stage biopharmaceutical company focused on developing therapies for cardiometabolic diseases, particularly conditions involving elevated cholesterol and residual cardiovascular risk. The company’s lead product candidate is obicetrapib, an oral, low-dose cholesteryl ester transfer protein (CETP) inhibitor designed to reduce low-density lipoprotein cholesterol and improve other lipid parameters.

Obicetrapib has been evaluated in several clinical studies, including the Phase 3 BROADWAY trial, for patients whose cholesterol levels remain inadequately controlled despite the use of existing lipid-lowering treatments.