NewAmsterdam Pharma (NASDAQ:NAMS) Sees Strong Trading Volume – Still a Buy?

Shares of NewAmsterdam Pharma (NASDAQ:NAMS) saw unusually-strong trading volume on Tuesday . Approximately 1,918,939 shares changed hands during trading, an increase of 254% from the previous session’s volume of 542,557 shares.The stock last traded at $18.36 and had previously closed at $20.47.

Analysts Set New Price Targets

Several brokerages have recently weighed in on NAMS. HC Wainwright reiterated a “buy” rating and set a $48.00 target price on shares of NewAmsterdam Pharma in a research report on Tuesday, January 14th. Needham & Company LLC lowered their price objective on NewAmsterdam Pharma from $46.00 to $42.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Royal Bank of Canada reissued an “outperform” rating and issued a $40.00 target price on shares of NewAmsterdam Pharma in a report on Friday, January 24th. UBS Group set a $41.00 price target on NewAmsterdam Pharma in a research note on Monday, March 3rd. Finally, Scotiabank increased their price objective on NewAmsterdam Pharma from $47.00 to $52.00 and gave the stock a “sector outperform” rating in a research note on Thursday, February 27th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $43.33.

NewAmsterdam Pharma Stock Down 10.7 %

The company’s fifty day moving average price is $21.60 and its two-hundred day moving average price is $21.30. The company has a market cap of $2.01 billion, a price-to-earnings ratio of -7.02 and a beta of -0.04.

NewAmsterdam Pharma (NASDAQ:NAMS) last released its quarterly earnings results on Wednesday, February 26th. The company reported ($0.95) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.47). The company had revenue of $12.77 million during the quarter, compared to analysts’ expectations of $3.30 million. Research analysts forecast that NewAmsterdam Pharma will post -1.75 earnings per share for the current year.

Insider Activity

In related news, CAO Louise Frederika Kooij sold 150,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $20.37, for a total value of $3,055,500.00. Following the completion of the sale, the chief accounting officer now owns 15,000 shares of the company’s stock, valued at $305,550. This trade represents a 90.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director James N. Topper acquired 4,005 shares of NewAmsterdam Pharma stock in a transaction on Tuesday, March 4th. The shares were purchased at an average cost of $21.02 per share, for a total transaction of $84,185.10. Following the acquisition, the director now owns 3,012,434 shares in the company, valued at approximately $63,321,362.68. This represents a 0.13 % increase in their position. The disclosure for this purchase can be found here. 19.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On NewAmsterdam Pharma

Several hedge funds have recently added to or reduced their stakes in NAMS. GF Fund Management CO. LTD. bought a new stake in NewAmsterdam Pharma during the 4th quarter worth about $50,000. National Bank of Canada FI bought a new stake in shares of NewAmsterdam Pharma during the fourth quarter worth approximately $51,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in NewAmsterdam Pharma in the fourth quarter valued at approximately $80,000. Quarry LP lifted its holdings in NewAmsterdam Pharma by 2,469.2% in the third quarter. Quarry LP now owns 6,500 shares of the company’s stock valued at $108,000 after buying an additional 6,247 shares during the period. Finally, Barclays PLC boosted its stake in NewAmsterdam Pharma by 1,813.4% in the third quarter. Barclays PLC now owns 7,596 shares of the company’s stock valued at $126,000 after acquiring an additional 7,199 shares during the last quarter. Institutional investors own 89.89% of the company’s stock.

NewAmsterdam Pharma Company Profile

NewAmsterdam Pharma Company N.V., a late-stage biopharmaceutical company, develops therapies to enhance patient care in populations with metabolic disease. It is developing obicetrapib, an oral low-dose cholesteryl ester transfer protein (CETP) inhibitor, that is in various clinical trials as a monotherapy and a combination therapy with ezetimibe for lowering LDL-C for cardiovascular diseases.