NewAmsterdam Pharma (NASDAQ:NAMS) Sees Large Growth in Short Interest

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

Wall Street Analyst Weigh In

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

NewAmsterdam Pharma Stock Performance

Shares of NAMS traded down $0.65 during midday trading on Friday, hitting $21.76. 690,361 shares of the stock traded hands, compared to its average volume of 532,561. The business’s 50 day moving average price is $21.66 and its two-hundred day moving average price is $21.27. The firm has a market capitalization of $2.39 billion, a PE ratio of -8.37 and a beta of -0.04. NewAmsterdam Pharma has a 1-year low of $15.19 and a 1-year high of $27.29.

NewAmsterdam Pharma (NASDAQ:NAMS) last posted its earnings results 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 business had revenue of $12.77 million for the quarter, compared to analysts’ expectations of $3.30 million. As a group, equities research analysts forecast that NewAmsterdam Pharma will post -1.75 EPS for the current fiscal year.

Insider Buying and Selling at NewAmsterdam Pharma

In related news, major shareholder Nap B.V. Forgrowth sold 29,846 shares of NewAmsterdam Pharma stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $25.54, for a total value of $762,266.84. Following the completion of the transaction, the insider now directly owns 10,656,172 shares in the company, valued at approximately $272,158,632.88. This trade represents a 0.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director James N. Topper acquired 1,135 shares of the business’s stock in a transaction on Wednesday, March 26th. The shares were purchased at an average price of $22.49 per share, for a total transaction of $25,526.15. Following the purchase, the director now directly owns 3,013,569 shares of the company’s stock, valued at $67,775,166.81. This represents a 0.04 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 19.50% of the stock is owned by insiders.

Hedge Funds Weigh In On NewAmsterdam Pharma

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. GF Fund Management CO. LTD. bought a new position in shares of NewAmsterdam Pharma in the fourth quarter worth $50,000. National Bank of Canada FI bought a new stake in shares of NewAmsterdam Pharma during the 4th quarter worth about $51,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of NewAmsterdam Pharma in the 4th quarter worth approximately $80,000. Quarry LP boosted its holdings in shares of 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 acquiring an additional 6,247 shares in the last quarter. Finally, Barclays PLC increased its stake 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 valued at $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.