NewAmsterdam Pharma (NASDAQ:NAMS) Shares Down 6.5% – Here’s Why

Shares of NewAmsterdam Pharma Company N.V. (NASDAQ:NAMS) traded down 6.5% on Friday. The company traded as low as $20.23 and last traded at $20.1740. 268,142 shares traded hands during trading, a decline of 77% from the average session volume of 1,144,579 shares. The stock had previously closed at $21.58.

Wall Street Analysts Forecast Growth

NAMS has been the topic of a number of recent analyst reports. HC Wainwright reissued a “buy” rating and issued a $52.00 price objective on shares of NewAmsterdam Pharma in a research report on Tuesday, September 8th. Jefferies Financial Group reiterated a “buy” rating and issued a $45.00 price objective on shares of NewAmsterdam Pharma in a report on Monday, July 20th. BMO Capital Markets assumed coverage on shares of NewAmsterdam Pharma in a research note on Monday, July 20th. They issued an “outperform” rating and a $58.00 price objective for the company. Weiss Ratings restated a “sell (d-)” rating on shares of NewAmsterdam Pharma in a research report on Thursday, October 15th. Finally, Royal Bank Of Canada decreased their price target on shares of NewAmsterdam Pharma from $50.00 to $42.00 and set an “outperform” rating for the company in a research note on Monday, October 5th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $48.90.

NewAmsterdam Pharma Trading Down 8.1%

The firm has a market capitalization of $2.37 billion, a price-to-earnings ratio of -9.18 and a beta of 0.10. The stock’s 50 day moving average price is $23.68 and its two-hundred day moving average price is $29.28.

NewAmsterdam Pharma (NASDAQ:NAMS) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($0.52) earnings per share for the quarter, missing the consensus estimate of ($0.48) by ($0.04). The firm had revenue of $3.70 million during the quarter, compared to analysts’ expectations of $2.83 million. NewAmsterdam Pharma had a negative net margin of 3,644.21% and a negative return on equity of 34.81%. On average, sell-side analysts forecast that NewAmsterdam Pharma Company N.V. will post -1.82 earnings per share for the current fiscal year.

Insider Transactions at NewAmsterdam Pharma

In related news, insider Johannes Kastelein sold 125,000 shares of NewAmsterdam Pharma stock in a transaction dated 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 completion of the sale, 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John W. Smither sold 1,600 shares of the business’s stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $25.32, for a total transaction of $40,512.00. Following the completion of the transaction, the director directly owned 8,760 shares of the company’s stock, valued at approximately $221,803.20. This represents a 15.44% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 176,846 shares of company stock valued at $4,661,919 over the last three months. 12.74% of the stock is currently owned by insiders.

Institutional Trading of NewAmsterdam Pharma

A number of institutional investors have recently modified their holdings of the company. KBC Group NV acquired a new stake in shares of NewAmsterdam Pharma in the first quarter worth $37,000. AdvisorNet Financial Inc purchased a new position in NewAmsterdam Pharma in the first quarter valued at about $82,000. PNC Financial Services Group Inc. raised its position in NewAmsterdam Pharma by 147.7% in the first quarter. PNC Financial Services Group Inc. now owns 9,119 shares of the company’s stock valued at $292,000 after purchasing an additional 5,437 shares during the period. AlphaCentric Advisors LLC lifted its stake in shares of NewAmsterdam Pharma by 6.7% during the first quarter. AlphaCentric Advisors LLC now owns 14,656 shares of the company’s stock worth $469,000 after purchasing an additional 925 shares in the last quarter. Finally, Arizona State Retirement System lifted its stake in shares of NewAmsterdam Pharma by 34.6% during the second quarter. Arizona State Retirement System now owns 16,656 shares of the company’s stock worth $564,000 after purchasing an additional 4,281 shares in the last quarter. Hedge funds and other institutional investors own 89.89% of the company’s stock.

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.