NewAmsterdam Pharma (NASDAQ:NAMS) Shares Gap Up - Time to Buy?

NewAmsterdam Pharma Company N.V. (NASDAQ:NAMS - Get Free Report) shares gapped up prior to trading on Friday . The stock had previously closed at $18.20, but opened at $19.01. NewAmsterdam Pharma shares last traded at $18.30, with a volume of 69,797 shares trading hands.

Wall Street Analyst Weigh In

NAMS has been the topic of a number of research analyst reports. UBS Group set a $41.00 price objective on shares of NewAmsterdam Pharma in a report on Monday, March 3rd. Cantor Fitzgerald began coverage on shares of NewAmsterdam Pharma in a research note on Wednesday, June 4th. They set an "overweight" rating and a $42.00 price target on the stock. Wall Street Zen cut shares of NewAmsterdam Pharma from a "hold" rating to a "sell" rating in a research report on Saturday. Needham & Company LLC restated a "buy" rating and issued a $40.00 price objective on shares of NewAmsterdam Pharma in a research note on Thursday, June 12th. Finally, Citigroup began coverage on NewAmsterdam Pharma in a research report on Tuesday, June 17th. They set a "buy" rating and a $42.00 target price on the stock. One equities research analyst has rated the stock with a sell rating and eight have issued a buy rating to the stock. According to data from MarketBeat, NewAmsterdam Pharma has an average rating of "Moderate Buy" and a consensus target price of $42.89.

NewAmsterdam Pharma Trading Up 1.4%

The company has a market capitalization of $2.04 billion, a price-to-earnings ratio of -9.69 and a beta of -0.03. The firm's 50 day simple moving average is $18.51 and its 200-day simple moving average is $20.84.

NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.49) earnings per share for the quarter, missing analysts' consensus estimates of ($0.45) by ($0.04). NewAmsterdam Pharma had a negative net margin of 397.45% and a negative return on equity of 37.34%. The business had revenue of $2.98 million during the quarter, compared to analysts' expectations of $1.46 million. As a group, sell-side analysts forecast that NewAmsterdam Pharma Company N.V. will post -1.75 EPS for the current fiscal year.

Insider Buying and Selling at NewAmsterdam Pharma

In other NewAmsterdam Pharma news, COO Douglas F. Kling sold 100,000 shares of the firm's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $19.29, for a total transaction of $1,929,000.00. Following the completion of the transaction, the chief operating officer now owns 44,000 shares of the company's stock, valued at approximately $848,760. This trade represents a 69.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director James N. Topper purchased 1,135 shares of the business's stock in a transaction dated Wednesday, March 26th. The stock was bought at an average cost of $22.49 per share, with a total value of $25,526.15. Following the completion of the acquisition, the director now 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 disclosure for this purchase can be found here. 20.84% of the stock is currently owned by insiders.

Institutional Trading of NewAmsterdam Pharma

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NAMS. Quarry LP purchased a new stake in shares of NewAmsterdam Pharma during the first quarter worth about $25,000. GF Fund Management CO. LTD. acquired a new stake in NewAmsterdam Pharma during the fourth quarter worth approximately $50,000. National Bank of Canada FI purchased a new stake in NewAmsterdam Pharma in the 4th quarter worth approximately $51,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in NewAmsterdam Pharma by 19.4% in 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. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of NewAmsterdam Pharma by 130.4% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,990 shares of the company's stock worth $123,000 after purchasing an additional 3,390 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.