Insider Buying: NewAmsterdam Pharma (NASDAQ:NAMS) CEO Acquires 10,000 Shares of Stock

Key Points

• CEO Michael Davidson purchased 10,000 NewAmsterdam Pharma shares at an average price of $22.65, increasing his direct ownership by 1.28% to 792,923 shares.
• NAMS shares fell 5.4% to $21.16, near the company’s 52-week low of $21.08. The company also reported a quarterly EPS loss of $0.52, missing estimates, despite revenue exceeding expectations.
• Institutional investors own 89.89% of the stock, while analysts maintain a generally positive outlook with a “Moderate Buy” consensus and an average price target of $49.73.

NewAmsterdam Pharma Company N.V. (NASDAQ:NAMS - Get Free Report) CEO Michael Davidson acquired 10,000 shares of NewAmsterdam Pharma stock in a transaction on Monday, September 14th. The stock was purchased at an average cost of $22.65 per share, with a total value of $226,500.00. Following the completion of the transaction, the chief executive officer directly owned 792,923 shares in the company, valued at $17,959,705.95. This represents a 1.28% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

NewAmsterdam Pharma Trading Down 5.4%

Shares of NAMS stock traded down $1.20 during trading on Tuesday, reaching $21.16. 1,729,021 shares of the company's stock traded hands, compared to its average volume of 1,074,888. The company has a market capitalization of $2.53 billion, a P/E ratio of -9.80 and a beta of 0.09. NewAmsterdam Pharma Company N.V. has a 1 year low of $21.08 and a 1 year high of $42.21. The firm's 50-day moving average is $28.35 and its 200 day moving average is $31.08.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Frazier Life Sciences Management L.P. increased its position in NewAmsterdam Pharma by 6.8% in the 2nd quarter. Frazier Life Sciences Management L.P. now owns 18,088,902 shares of the company's stock worth $613,033,000 after buying an additional 1,145,128 shares during the period. Castle Hook Partners LP bought a new position in shares of NewAmsterdam Pharma during the 4th quarter worth approximately $38,062,000. Bank of America Corp DE boosted its stake in NewAmsterdam Pharma by 84.4% in the 1st quarter. Bank of America Corp DE now owns 847,089 shares of the company's stock valued at $27,115,000 after buying an additional 387,698 shares in the last quarter. Artia Global Partners LP lifted its holdings in NewAmsterdam Pharma by 158.6% during the 4th quarter. Artia Global Partners LP now owns 503,936 shares of the company's stock valued at $17,678,000 after purchasing an additional 309,098 shares during the last quarter. Finally, Maverick Capital Ltd. boosted its holdings in shares of NewAmsterdam Pharma by 15.4% in the 1st quarter. Maverick Capital Ltd. now owns 2,186,402 shares of the company's stock worth $69,987,000 after acquiring an additional 292,176 shares in the last quarter. Institutional investors and hedge funds own 89.89% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on NAMS. BMO Capital Markets initiated coverage on shares of NewAmsterdam Pharma in a report on Monday, July 20th. They set an "outperform" rating and a $58.00 target price for the company. Royal Bank Of Canada dropped their price target on NewAmsterdam Pharma from $51.00 to $50.00 and set an "outperform" rating on the stock in a research note on Thursday, August 6th. Weiss Ratings reissued a "sell (d-)" rating on shares of NewAmsterdam Pharma in a research report on Friday, July 17th. HC Wainwright reaffirmed a "buy" rating and set a $52.00 target price on shares of NewAmsterdam Pharma in a research report on Tuesday, September 8th. Finally, Jefferies Financial Group reissued a "buy" rating and issued a $45.00 price objective on shares of NewAmsterdam Pharma in a report on Monday, July 20th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $49.73.

NewAmsterdam Pharma Company Profile

NewAmsterdam Pharma Company N.V. is a clinical-stage biopharmaceutical company focused on developing therapies for cardiometabolic diseases, particularly conditions involving elevated cholesterol and residual cardiovascular risk. The company's lead product candidate is obicetrapib, an oral, low-dose cholesteryl ester transfer protein (CETP) inhibitor designed to reduce low-density lipoprotein cholesterol and improve other lipid parameters.

Obicetrapib has been evaluated in several clinical studies, including the Phase 3 BROADWAY trial, for patients whose cholesterol levels remain inadequately controlled despite the use of existing lipid-lowering treatments.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.