NewAmsterdam Pharma (NASDAQ:NAMS) Sets New 52-Week Low Following Analyst Downgrade

NewAmsterdam Pharma Company N.V. (NASDAQ:NAMS)’s stock price hit a new 52-week low during trading on Thursday after Needham & Company LLC lowered their price target on the stock from $48.00 to $46.00. Needham & Company LLC currently has a buy rating on the stock. NewAmsterdam Pharma traded as low as $19.00 and last traded at $19.8040, with a volume of 221,006 shares changing hands. The stock had previously closed at $20.93.

Several other research analysts have also issued reports on NAMS. Royal Bank Of Canada dropped their target price on NewAmsterdam Pharma from $50.00 to $42.00 and set an “outperform” rating for the company in a research report on Monday, October 5th. Wall Street Zen raised NewAmsterdam Pharma from a “sell” rating to a “hold” rating in a research note on Sunday, November 1st. Jefferies Financial Group restated a “buy” rating and set a $45.00 price objective on shares of NewAmsterdam Pharma in a report on Monday, July 20th. HC Wainwright restated a “buy” rating and set a $52.00 price objective on shares of NewAmsterdam Pharma in a report on Tuesday, September 8th. Finally, BMO Capital Markets initiated coverage on NewAmsterdam Pharma in a research report on Monday, July 20th. They issued an “outperform” rating and a $58.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $48.70.

Insiders Place Their Bets

In other news, insider Johannes Kastelein sold 125,000 shares of the firm’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $26.91, for a total transaction of $3,363,750.00. Following the transaction, the insider owned 69,302 shares in the company, valued at approximately $1,864,916.82. This trade represents a 64.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director John W. Smither sold 1,600 shares of the company’s stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $25.32, for a total transaction of $40,512.00. Following the completion of the sale, the director directly owned 8,760 shares of the company’s stock, valued at approximately $221,803.20. This trade represents a 15.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 176,846 shares of company stock worth $4,661,919 in the last ninety days. 12.74% of the stock is owned by company insiders.

Hedge Funds Weigh In On NewAmsterdam Pharma

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Bank of America Corp DE boosted its position in NewAmsterdam Pharma by 84.4% during the 1st 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 in the last quarter. Frazier Life Sciences Management L.P. raised 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 in the last quarter. Squarepoint Ops LLC raised its position in shares of NewAmsterdam Pharma by 113.9% in the 2nd quarter. Squarepoint Ops LLC now owns 92,026 shares of the company’s stock worth $3,119,000 after acquiring an additional 49,005 shares in the last quarter. Stempoint Capital LP lifted its stake in shares of NewAmsterdam Pharma by 147.1% during the 1st quarter. Stempoint Capital LP now owns 180,658 shares of the company’s stock worth $5,783,000 after purchasing an additional 107,552 shares during the last quarter. Finally, Maverick Capital Ltd. lifted its stake 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 worth $69,987,000 after purchasing an additional 292,176 shares during the last quarter. 89.89% of the stock is currently owned by institutional investors.

NewAmsterdam Pharma Price Performance

The business has a 50-day moving average of $22.10 and a two-hundred day moving average of $29.52. The company has a market cap of $2.26 billion, a P/E ratio of -11.18 and a beta of 0.15.

NewAmsterdam Pharma (NASDAQ:NAMS) last issued its quarterly earnings data on Wednesday, November 4th. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.47) by $0.33. NewAmsterdam Pharma had a negative return on equity of 34.81% and a negative net margin of 3,644.21%. The firm had revenue of $19.16 million during the quarter, compared to analyst estimates of $8.82 million. Equities analysts anticipate that NewAmsterdam Pharma Company N.V. will post -1.69 EPS for the current fiscal year.

NewAmsterdam Pharma Company Profile

NewAmsterdam Pharma (NASDAQ: NAMS) is a clinical-stage biopharmaceutical company focused on developing therapies for cardiometabolic diseases. The company’s primary investigational product is obicetrapib, an oral, low-dose cholesteryl ester transfer protein (CETP) inhibitor designed to reduce low-density lipoprotein cholesterol and potentially address residual cardiovascular risk in patients who remain inadequately controlled on existing treatments.

NewAmsterdam is evaluating obicetrapib in late-stage clinical studies involving patients with dyslipidemia, including individuals with heterozygous familial hypercholesterolemia and patients who are unable to reach cholesterol goals with currently available therapies.