NewAmsterdam Pharma (NASDAQ:NAMS) Trading Down 4.4% - Time to Sell?

Shares of NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report) dropped 4.4% during mid-day trading on Wednesday . The stock traded as low as $20.92 and last traded at $20.88. Approximately 106,510 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 668,501 shares. The stock had previously closed at $21.84.

Analysts Set New Price Targets

Several brokerages have recently issued reports on NAMS. Needham & Company LLC reaffirmed a "buy" rating and issued a $40.00 price target on shares of NewAmsterdam Pharma in a research report on Thursday. Cantor Fitzgerald initiated coverage on NewAmsterdam Pharma in a report on Wednesday, June 4th. They set an "overweight" rating and a $42.00 price objective for the company. Wall Street Zen raised NewAmsterdam Pharma from a "sell" rating to a "hold" rating in a report on Friday, May 30th. Scotiabank increased their price target on shares of NewAmsterdam Pharma from $47.00 to $52.00 and gave the company a "sector outperform" rating in a research note on Thursday, February 27th. Finally, UBS Group set a $41.00 target price on shares of NewAmsterdam Pharma in a research report on Monday, March 3rd. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $43.00.

NewAmsterdam Pharma Price Performance

The stock's 50 day simple moving average is $18.09 and its two-hundred day simple moving average is $20.86. The stock has a market cap of $2.30 billion, a P/E ratio of -10.91 and a beta of -0.03.

NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.45) by ($0.04). The company had revenue of $2.98 million during the quarter, compared to analyst estimates of $1.46 million. As a group, analysts forecast that NewAmsterdam Pharma will post -1.75 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director James N. Topper acquired 1,135 shares of the firm's stock in a transaction dated Wednesday, March 26th. The stock was bought at an average price of $22.49 per share, for a total transaction of $25,526.15. Following the acquisition, the director now directly owns 3,013,569 shares of the company's stock, valued at approximately $67,775,166.81. The trade was a 0.04% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 20.84% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of NAMS. Quarry LP acquired a new stake in shares of NewAmsterdam Pharma in the 1st quarter valued at approximately $25,000. GF Fund Management CO. LTD. bought a new position in shares of NewAmsterdam Pharma in the 4th quarter valued at about $50,000. National Bank of Canada FI bought a new position in shares of NewAmsterdam Pharma in the 4th quarter valued at about $51,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of NewAmsterdam Pharma during the 4th quarter worth about $80,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of NewAmsterdam Pharma by 130.4% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,990 shares of the company's stock valued at $123,000 after purchasing an additional 3,390 shares during the period. 89.89% of the stock is currently owned by institutional investors.

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.