NewAmsterdam Pharma (NASDAQ:NAMS) Sees Strong Trading Volume – Here’s Why

Shares of NewAmsterdam Pharma Company N.V. (NASDAQ:NAMS) saw unusually-high trading volume on Monday . Approximately 802,951 shares traded hands during trading, an increase of 14% from the previous session’s volume of 703,258 shares.The stock last traded at $33.9350 and had previously closed at $35.46.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Stifel Nicolaus lifted their price target on shares of NewAmsterdam Pharma from $44.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, December 16th. Royal Bank Of Canada upped their target price on shares of NewAmsterdam Pharma from $44.00 to $47.00 and gave the stock an “outperform” rating in a report on Wednesday, January 21st. Needham & Company LLC raised their price target on NewAmsterdam Pharma from $46.00 to $48.00 and gave the company a “buy” rating in a report on Wednesday, February 18th. Cantor Fitzgerald restated an “overweight” rating on shares of NewAmsterdam Pharma in a research report on Thursday, February 19th. Finally, HC Wainwright upgraded NewAmsterdam Pharma to a “strong-buy” rating in a research report on Thursday, February 19th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $46.55.

NewAmsterdam Pharma Trading Down 6.9%

The stock has a market capitalization of $3.80 billion, a P/E ratio of -19.07 and a beta of 0.04. The business has a 50-day moving average price of $34.06 and a 200 day moving average price of $33.06.

NewAmsterdam Pharma (NASDAQ:NAMS) last issued its quarterly earnings data on Wednesday, February 18th. The company reported ($0.63) EPS for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.23). The business had revenue of $0.03 million during the quarter, compared to analysts’ expectations of $0.92 million. NewAmsterdam Pharma had a negative return on equity of 26.67% and a negative net margin of 906.22%. On average, sell-side analysts predict that NewAmsterdam Pharma Company N.V. will post -1.75 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Michael H. Davidson sold 183,332 shares of NewAmsterdam Pharma stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $33.71, for a total value of $6,180,121.72. Following the completion of the transaction, the chief executive officer owned 174,144 shares in the company, valued at approximately $5,870,394.24. The trade was a 51.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Louise Frederika Kooij sold 32,612 shares of the stock in a transaction on Wednesday, January 28th. The shares were sold at an average price of $31.80, for a total value of $1,037,061.60. Following the sale, the chief accounting officer owned 24,353 shares in the company, valued at $774,425.40. The trade was a 57.25% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 650,421 shares of company stock valued at $22,417,631 in the last ninety days. Insiders own 20.84% of the company’s stock.

Hedge Funds Weigh In On NewAmsterdam Pharma

Several hedge funds have recently added to or reduced their stakes in the company. Atle Fund Management AB grew its stake in NewAmsterdam Pharma by 23.2% in the third quarter. Atle Fund Management AB now owns 193,625 shares of the company’s stock worth $5,507,000 after purchasing an additional 36,402 shares in the last quarter. Jennison Associates LLC grew its position in shares of NewAmsterdam Pharma by 42.5% during the 3rd quarter. Jennison Associates LLC now owns 4,198,554 shares of the company’s stock worth $119,407,000 after buying an additional 1,252,451 shares in the last quarter. Keybank National Association OH purchased a new position in shares of NewAmsterdam Pharma during the third quarter valued at $455,000. Franklin Resources Inc. increased its stake in shares of NewAmsterdam Pharma by 30.6% during the second quarter. Franklin Resources Inc. now owns 334,212 shares of the company’s stock valued at $6,053,000 after buying an additional 78,300 shares during the period. Finally, Frazier Life Sciences Management L.P. raised its holdings in shares of NewAmsterdam Pharma by 3.0% in the second quarter. Frazier Life Sciences Management L.P. now owns 16,607,074 shares of the company’s stock valued at $300,754,000 after acquiring an additional 490,656 shares in the last quarter. 89.89% of the stock is currently owned by institutional investors.

NewAmsterdam Pharma Company Profile

NewAmsterdam Pharma, Inc is a clinical‐stage biopharmaceutical company focused on discovering and developing novel small‐molecule therapies for cardiometabolic diseases. The company’s research efforts are aimed at addressing key unmet needs in metabolic syndrome, obesity and type 2 diabetes by modulating pathways involved in glucose regulation, energy homeostasis and lipid metabolism.

The company’s development pipeline features multiple small‐molecule candidates at various stages of preclinical and clinical evaluation.