NewAmsterdam Pharma (NASDAQ:NAMS) Reaches New 1-Year High - Here's Why

NewAmsterdam Pharma Company N.V. (NASDAQ:NAMS - Get Free Report) reached a new 52-week high during trading on Thursday . The stock traded as high as $41.47 and last traded at $40.45, with a volume of 2599498 shares traded. The stock had previously closed at $37.86.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Wells Fargo & Company assumed coverage on shares of NewAmsterdam Pharma in a research report on Monday, August 25th. They issued an "overweight" rating and a $45.00 target price for the company. Royal Bank Of Canada lifted their target price on NewAmsterdam Pharma from $38.00 to $39.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Wall Street Zen raised NewAmsterdam Pharma from a "sell" rating to a "hold" rating in a research note on Saturday, July 5th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of NewAmsterdam Pharma in a research note on Wednesday, October 8th. Finally, The Goldman Sachs Group initiated coverage on NewAmsterdam Pharma in a research note on Thursday, July 17th. They set a "neutral" rating and a $27.00 target price on the stock. Eight research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $42.00.

NewAmsterdam Pharma Trading Up 6.8%

The company has a market capitalization of $4.56 billion, a price-to-earnings ratio of -24.97 and a beta of 0.02. The firm has a 50-day moving average price of $27.34 and a 200-day moving average price of $21.97.

NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.52) by $0.37. NewAmsterdam Pharma had a negative return on equity of 27.27% and a negative net margin of 259.07%.The company had revenue of $19.15 million for the quarter, compared to analysts' expectations of $1.44 million. Equities research analysts predict that NewAmsterdam Pharma Company N.V. will post -1.75 EPS for the current fiscal year.

Insider Activity

In other news, Director James N. Topper purchased 1,260 shares of the stock in a transaction dated Monday, September 8th. The shares were bought at an average cost of $24.99 per share, for a total transaction of $31,487.40. Following the transaction, the director owned 3,027,864 shares in the company, valued at $75,666,321.36. This trade represents a 0.04% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Louise Frederika Kooij sold 150,000 shares of NewAmsterdam Pharma stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $25.83, for a total value of $3,874,500.00. Following the completion of the transaction, the chief accounting officer owned 15,000 shares in the company, valued at $387,450. The trade was a 90.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have bought 2,391 shares of company stock worth $58,424 and have sold 226,342 shares worth $5,748,019. 20.84% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Frazier Life Sciences Management L.P. grew its holdings in shares of NewAmsterdam Pharma by 3.0% during the second quarter. Frazier Life Sciences Management L.P. now owns 16,607,074 shares of the company's stock valued at $300,754,000 after buying an additional 490,656 shares in the last quarter. RA Capital Management L.P. grew its holdings in shares of NewAmsterdam Pharma by 14.6% during the first quarter. RA Capital Management L.P. now owns 10,138,938 shares of the company's stock valued at $207,544,000 after buying an additional 1,293,938 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of NewAmsterdam Pharma by 53.0% during the first quarter. Wellington Management Group LLP now owns 3,541,975 shares of the company's stock valued at $72,504,000 after buying an additional 1,226,852 shares in the last quarter. Adage Capital Partners GP L.L.C. grew its holdings in shares of NewAmsterdam Pharma by 54.5% during the second quarter. Adage Capital Partners GP L.L.C. now owns 3,013,009 shares of the company's stock valued at $54,566,000 after buying an additional 1,062,359 shares in the last quarter. Finally, Woodline Partners LP grew its holdings in shares of NewAmsterdam Pharma by 0.5% during the first quarter. Woodline Partners LP now owns 2,442,397 shares of the company's stock valued at $49,996,000 after buying an additional 11,615 shares in the last quarter. Hedge funds and other institutional investors own 89.89% of the company's stock.

About NewAmsterdam Pharma

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.

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