NewAmsterdam Pharma (NASDAQ:NAMS) Sees Large Volume Increase After 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).

NewAmsterdam Pharma Company N.V. (NASDAQ:NAMS - Get Free Report) saw unusually-high trading volume on Thursday following insider buying activity. Approximately 978,870 shares were traded during mid-day 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 purchased 1,260 shares of the company's stock in a transaction on Monday, September 8th. The stock was acquired at an average price of $24.99 per share, for a total transaction of $31,487.40. Following the completion of the purchase, the director directly owned 3,027,864 shares in the company, valued at approximately $75,666,321.36. The trade was a 0.04% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. The Goldman Sachs Group initiated coverage on NewAmsterdam Pharma in a research report on Thursday, July 17th. They set a "neutral" rating and a $27.00 price objective for the company. Citigroup initiated coverage on shares of NewAmsterdam Pharma in a report on Tuesday, June 17th. They set a "buy" rating and a $42.00 price objective on the stock. Wells Fargo & Company began coverage on shares of NewAmsterdam Pharma in a report on Monday, August 25th. They issued an "overweight" rating and a $45.00 target price for the company. Royal Bank Of Canada boosted their price target on shares of NewAmsterdam Pharma from $38.00 to $39.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Finally, Needham & Company LLC restated a "buy" rating and set a $40.00 price target on shares of NewAmsterdam Pharma in a research note on Thursday, June 12th. Nine equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $41.55.

NewAmsterdam Pharma Stock Up 1.5%

The business's fifty day moving average is $23.76 and its 200 day moving average is $20.84. The stock has a market cap of $2.76 billion, a PE ratio of -15.10 and a beta of -0.01.

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. China Universal Asset Management Co. Ltd. grew its position in shares of NewAmsterdam Pharma by 2.4% in the second quarter. China Universal Asset Management Co. Ltd. now owns 22,549 shares of the company's stock valued at $408,000 after purchasing an additional 521 shares during the period. The Manufacturers Life Insurance Company grew its holdings in NewAmsterdam Pharma by 5.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,868 shares of the company's stock valued at $197,000 after buying an additional 544 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of NewAmsterdam Pharma by 19.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,675 shares of the company's stock valued at $80,000 after acquiring an additional 596 shares during the last quarter. Quarry LP purchased a new stake in shares of NewAmsterdam Pharma during the 1st quarter valued at $25,000. Finally, BNP Paribas Financial Markets raised its position in shares of NewAmsterdam Pharma by 4.5% in the 2nd quarter. BNP Paribas Financial Markets now owns 29,277 shares of the company's stock worth $530,000 after buying an additional 1,257 shares during the period. 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.