NewAmsterdam Pharma (NASDAQ:NAMS) Short Interest Update

NewAmsterdam Pharma (NASDAQ:NAMS) was the target of a large growth in short interest in March. As of March 15th, there was short interest totalling 4,340,000 shares, a growth of 42.8% from the February 28th total of 3,040,000 shares. Based on an average daily volume of 843,800 shares, the short-interest ratio is currently 5.1 days. Currently, 7.5% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

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

NewAmsterdam Pharma Stock Performance

NASDAQ:NAMS traded down $2.09 during mid-day trading on Tuesday, hitting $18.38. The stock had a trading volume of 2,585,205 shares, compared to its average volume of 545,463. NewAmsterdam Pharma has a twelve month low of $15.19 and a twelve month high of $27.29. The stock has a market cap of $2.02 billion, a price-to-earnings ratio of -7.07 and a beta of -0.04. The company’s 50 day simple moving average is $21.50 and its 200 day simple moving average is $21.32.

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

Insider Activity

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

Hedge Funds Weigh In On NewAmsterdam Pharma

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

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.