NewAmsterdam Pharma (NASDAQ:NAMS) Shares Up 5.6%

Shares of NewAmsterdam Pharma (NASDAQ:NAMS) shot up 5.6% during trading on Monday . The stock traded as high as $20.30 and last traded at $20.28. 26,266 shares traded hands during trading, a decline of 87% from the average session volume of 206,641 shares. The stock had previously closed at $19.21.

Analyst Ratings Changes

NAMS has been the subject of a number of analyst reports. Royal Bank of Canada reiterated an “outperform” rating and set a $31.00 price objective on shares of NewAmsterdam Pharma in a report on Friday, June 7th. TD Cowen assumed coverage on NewAmsterdam Pharma in a report on Wednesday, May 15th. They set a “buy” rating for the company. Finally, Scotiabank started coverage on NewAmsterdam Pharma in a research report on Thursday, March 14th. They set a “sector outperform” rating and a $35.00 price target on the stock. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $33.25.

NewAmsterdam Pharma Stock Performance

The company has a 50-day simple moving average of $19.94 and a 200-day simple moving average of $19.31.

NewAmsterdam Pharma (NASDAQ:NAMS) last released its quarterly earnings data on Wednesday, May 8th. The company reported ($0.62) earnings per share for the quarter, missing the consensus estimate of ($0.54) by ($0.08). The company had revenue of $1.40 million for the quarter, compared to analysts’ expectations of $2.95 million. Sell-side analysts forecast that NewAmsterdam Pharma will post -2.52 earnings per share for the current fiscal year.

Insider Transactions at NewAmsterdam Pharma

In other news, CEO Michael H. Davidson acquired 5,000 shares of the stock in a transaction that occurred on Thursday, June 20th. The stock was acquired at an average price of $17.26 per share, for a total transaction of $86,300.00. Following the transaction, the chief executive officer now directly owns 204,784 shares in the company, valued at $3,534,571.84. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 19.50% of the company’s stock.

Institutional Investors Weigh In On NewAmsterdam Pharma

Large investors have recently bought and sold shares of the stock. Fcpm Iii Services B.V. purchased a new stake in shares of NewAmsterdam Pharma during the 4th quarter valued at approximately $132,157,000. Jennison Associates LLC purchased a new position in shares of NewAmsterdam Pharma during the first quarter valued at approximately $22,015,000. Artal Group S.A. purchased a new stake in NewAmsterdam Pharma in the first quarter worth about $18,920,000. Janus Henderson Group PLC purchased a new stake in shares of NewAmsterdam Pharma in the 1st quarter worth about $15,018,000. Finally, Opaleye Management Inc. bought a new position in NewAmsterdam Pharma in the 4th quarter worth about $2,964,000. 89.89% of the stock is currently owned by institutional investors and hedge funds.

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.