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

NewAmsterdam Pharma Company N.V. (NASDAQ:NAMS) saw unusually-high trading volume on Monday . Approximately 2,875,315 shares were traded during mid-day trading, an increase of 162% from the previous session’s volume of 1,098,026 shares.The stock last traded at $21.7510 and had previously closed at $22.49.

Wall Street Analyst Weigh In

NAMS has been the topic of a number of analyst reports. BMO Capital Markets began coverage on NewAmsterdam Pharma in a research note on Monday, July 20th. They issued an “outperform” rating and a $58.00 price target on the stock. HC Wainwright restated a “buy” rating and set a $52.00 target price on shares of NewAmsterdam Pharma in a research report on Tuesday, September 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NewAmsterdam Pharma in a report on Friday, July 17th. Royal Bank Of Canada decreased their price target on NewAmsterdam Pharma from $51.00 to $50.00 and set an “outperform” rating on the stock in a research note on Thursday, August 6th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $45.00 price target on shares of NewAmsterdam Pharma in a report on Monday, July 20th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, NewAmsterdam Pharma currently has an average rating of “Moderate Buy” and a consensus target price of $49.73.

NewAmsterdam Pharma Price Performance

The stock’s 50-day moving average is $26.79 and its 200-day moving average is $30.62. The stock has a market cap of $2.79 billion, a price-to-earnings ratio of -10.80 and a beta of 0.09.

NewAmsterdam Pharma (NASDAQ:NAMS) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($0.52) EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $3.70 million during the quarter, compared to analysts’ expectations of $2.83 million. Analysts predict that NewAmsterdam Pharma Company N.V. will post -1.82 EPS for the current fiscal year.

Insider Activity at NewAmsterdam Pharma

In other NewAmsterdam Pharma news, CAO Louise Kooij sold 105,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief accounting officer directly owned 24,353 shares in the company, valued at $738,870.02. This represents a 81.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Johannes Kastelein sold 125,000 shares of the firm’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $26.91, for a total value of $3,363,750.00. Following the completion of 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. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 231,600 shares of company stock valued at $6,589,962. Insiders own 12.74% of the company’s stock.

Institutional Trading of NewAmsterdam Pharma

A number of institutional investors and hedge funds have recently bought and sold shares of NAMS. KBC Group NV acquired a new position in NewAmsterdam Pharma during the first quarter valued at approximately $37,000. AdvisorNet Financial Inc acquired a new stake in shares of NewAmsterdam Pharma in the first quarter worth $82,000. Seven Fleet Capital Management LP purchased a new position in shares of NewAmsterdam Pharma in the 4th quarter valued at $140,000. PNC Financial Services Group Inc. raised its stake in shares of NewAmsterdam Pharma by 147.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 9,119 shares of the company’s stock valued at $292,000 after acquiring an additional 5,437 shares during the period. Finally, AlphaCentric Advisors LLC lifted its holdings in shares of NewAmsterdam Pharma by 6.7% during the 1st quarter. AlphaCentric Advisors LLC now owns 14,656 shares of the company’s stock valued at $469,000 after acquiring an additional 925 shares in the last quarter. Institutional investors and hedge funds own 89.89% of the company’s stock.

About NewAmsterdam Pharma

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.