NewAmsterdam Pharma (NASDAQ:NAMS) Sees Unusually-High Trading Volume on Insider Buying Activity

Key Points

• NewAmsterdam Pharma saw a significant increase in trading volume, with 978,870 shares traded following an insider purchase by Director James N. Topper of 1,260 shares at $24.99 each.
• Recent research reports have given NewAmsterdam Pharma an average rating of "Moderate Buy" with target prices ranging from $27.00 to $45.00, reflecting optimistic future growth expectations.
• The company reported a revenue of $19.15 million for the last quarter, significantly exceeding analyst expectations of $1.44 million, and posted an EPS of ($0.15), beating the consensus estimate of ($0.52).

Shares of NewAmsterdam Pharma Company N.V. (NASDAQ:NAMS - Get Free Report) saw an uptick in trading volume on Thursday after an insider bought additional shares in the company. 978,870 shares were traded during trading, an increase of 11% from the previous session's volume of 885,813 shares.The stock last traded at $27.16 and had previously closed at $26.90.

Specifically, Director James N. Topper acquired 1,260 shares of the company's stock in a transaction dated Monday, September 8th. The shares were bought at an average price of $24.99 per share, with a total value of $31,487.40. Following the purchase, the director owned 3,027,864 shares of the company's stock, valued at approximately $75,666,321.36. This represents a 0.04% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on NAMS. Cantor Fitzgerald began coverage on NewAmsterdam Pharma in a research note on Wednesday, June 4th. They issued an "overweight" rating and a $42.00 price objective on the stock. Wells Fargo & Company began coverage on NewAmsterdam Pharma in a research report on Monday, August 25th. They set an "overweight" rating and a $45.00 target price on the stock. The Goldman Sachs Group began coverage on NewAmsterdam Pharma in a research report on Thursday, July 17th. They set a "neutral" rating and a $27.00 target price on the stock. Stifel Nicolaus began coverage on NewAmsterdam Pharma in a research report on Tuesday, June 10th. They set a "buy" rating and a $44.00 target price on the stock. Finally, Wall Street Zen raised NewAmsterdam Pharma from a "sell" rating to a "hold" rating in a research report on Saturday, July 5th. Nine equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, NewAmsterdam Pharma currently has an average rating of "Moderate Buy" and an average price target of $41.55.

NewAmsterdam Pharma Stock Down 0.8%

The stock has a market capitalization of $3.01 billion, a price-to-earnings ratio of -16.47 and a beta of -0.01. The firm has a 50-day moving average of $23.45 and a two-hundred day moving average of $20.70.

NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported ($0.15) EPS for the quarter, beating analysts' consensus estimates 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 firm had revenue of $19.15 million for the quarter, compared to the consensus estimate of $1.44 million. As a group, sell-side analysts predict that NewAmsterdam Pharma Company N.V. will post -1.75 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of NAMS. Frazier Life Sciences Management L.P. grew its stake in NewAmsterdam Pharma by 23.8% in 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 purchasing an additional 3,061,224 shares in the last quarter. 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 valued at $59,499,000 after purchasing an additional 2,222,900 shares in the last quarter. RA Capital Management L.P. grew its stake in NewAmsterdam Pharma by 14.6% in 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 purchasing an additional 1,293,938 shares in the last quarter. Woodline Partners LP grew its stake in NewAmsterdam Pharma by 108.7% in the fourth quarter. Woodline Partners LP now owns 2,430,782 shares of the company's stock valued at $62,471,000 after purchasing an additional 1,266,105 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. grew its stake in NewAmsterdam Pharma by 54.5% in 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 purchasing an additional 1,062,359 shares in the last quarter. Hedge funds and other institutional investors own 89.89% of the company's stock.

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.

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