NewAmsterdam Pharma (NASDAQ:NAMS) Shares Gap Up - Still a Buy?

NewAmsterdam Pharma Company N.V. (NASDAQ:NAMS - Get Free Report)'s stock price 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 changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. UBS Group set a $41.00 price target on NewAmsterdam Pharma in a report on Monday, March 3rd. Cantor Fitzgerald assumed coverage on NewAmsterdam Pharma in a report on Wednesday, June 4th. They issued an "overweight" rating and a $42.00 price target for the company. Citigroup assumed coverage on NewAmsterdam Pharma in a report on Tuesday. They issued a "buy" rating and a $42.00 price target for the company. Stifel Nicolaus assumed coverage on NewAmsterdam Pharma in a report on Tuesday, June 10th. They issued a "buy" rating and a $44.00 price target for the company. Finally, Scotiabank increased their price target on NewAmsterdam Pharma from $47.00 to $52.00 and gave the company a "sector outperform" rating in a report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, NewAmsterdam Pharma currently has an average rating of "Moderate Buy" and an average target price of $42.89.

NewAmsterdam Pharma Price Performance

The firm has a 50-day moving average of $18.45 and a two-hundred day moving average of $20.81.

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

Insider Transactions at NewAmsterdam Pharma

In other 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 directly owns 44,000 shares in the company, valued at $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 available at the SEC website. Also, Director James N. Topper purchased 8,584 shares of the stock in a transaction dated Monday, June 16th. The shares were purchased at an average price of $19.50 per share, with a total value of $167,388.00. Following the completion of the transaction, the director now owns 3,022,153 shares of the company's stock, valued at approximately $58,931,983.50. This trade represents a 0.28% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 20.84% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of NAMS. Legal & General Group Plc boosted its holdings in NewAmsterdam Pharma by 24.8% in the fourth quarter. Legal & General Group Plc now owns 22,946 shares of the company's stock valued at $590,000 after purchasing an additional 4,556 shares during the period. American Century Companies Inc. purchased a new position in NewAmsterdam Pharma in the fourth quarter valued at $8,907,000. Swiss National Bank boosted its holdings in NewAmsterdam Pharma by 105.1% in the fourth quarter. Swiss National Bank now owns 72,000 shares of the company's stock valued at $1,850,000 after purchasing an additional 36,900 shares during the period. Northern Trust Corp purchased a new position in NewAmsterdam Pharma in the fourth quarter valued at $556,000. Finally, Barclays PLC boosted its holdings in NewAmsterdam Pharma by 120.0% in the fourth quarter. Barclays PLC now owns 16,713 shares of the company's stock valued at $429,000 after purchasing an additional 9,117 shares during the period. 89.89% of the stock is currently owned by hedge funds and other 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.