NewAmsterdam Pharma (NASDAQ:NAMS) Sees Strong Trading Volume – Should You Buy?

NewAmsterdam Pharma (NASDAQ:NAMS) saw unusually-high 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.

Analyst Ratings Changes

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

NewAmsterdam Pharma Price Performance

The company has a market cap of $1.98 billion, a P/E ratio of -6.92 and a beta of -0.04. The firm’s 50-day moving average is $21.29 and its two-hundred day moving average is $21.27.

NewAmsterdam Pharma (NASDAQ:NAMS) last announced its quarterly earnings results on Wednesday, February 26th. The company reported ($0.95) EPS for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.47). The company had revenue of $12.77 million for the quarter, compared to analysts’ expectations of $3.30 million. As a group, sell-side analysts expect that NewAmsterdam Pharma will post -1.75 EPS for the current year.

Insider Activity

In related news, CAO Louise Frederika Kooij sold 150,000 shares of the business’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $20.37, for a total transaction of $3,055,500.00. Following the completion of the transaction, the chief accounting officer now owns 15,000 shares in the company, valued at $305,550. The trade was a 90.91 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James N. Topper bought 1,135 shares of NewAmsterdam Pharma stock in a transaction on Wednesday, March 26th. The stock was acquired at an average price of $22.49 per share, for a total transaction of $25,526.15. Following the purchase, the director now owns 3,013,569 shares of the company’s stock, valued at approximately $67,775,166.81. This trade represents a 0.04 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 19.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Deerfield Management Company L.P. Series C lifted its holdings in NewAmsterdam Pharma by 378.4% during the 4th quarter. Deerfield Management Company L.P. Series C now owns 4,314,340 shares of the company’s stock valued at $110,879,000 after buying an additional 3,412,590 shares in the last quarter. Frazier Life Sciences Management L.P. raised its stake in shares of NewAmsterdam Pharma by 23.8% during the fourth quarter. Frazier Life Sciences Management L.P. now owns 15,916,418 shares of the company’s stock valued at $409,052,000 after acquiring an additional 3,061,224 shares in the last quarter. Jennison Associates LLC boosted its holdings in shares of NewAmsterdam Pharma by 291.9% in the fourth quarter. Jennison Associates LLC now owns 3,998,541 shares of the company’s stock valued at $102,763,000 after purchasing an additional 2,978,263 shares during the period. Wellington Management Group LLP grew its stake in NewAmsterdam Pharma by 2,410.4% in the fourth quarter. Wellington Management Group LLP now owns 2,315,123 shares of the company’s stock worth $59,499,000 after purchasing an additional 2,222,900 shares in the last quarter. Finally, Capital International Investors purchased a new position in NewAmsterdam Pharma during the 4th quarter worth $53,007,000. 89.89% of the stock is currently 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.