NewAmsterdam Pharma (NASDAQ:NAMS) Stock Price Down 9.7% Following Insider Selling

Key Points

• NewAmsterdam Pharma's stock saw a significant decline of 9.7% after an insider, CAO Louise Frederika Kooij, sold 18,073 shares, reducing her position by 54.65%.
• The company recently reported an earnings per share (EPS) of ($0.15), surpassing estimates, with a revenue of $19.15 million for the quarter.
• Analysts maintain a generally positive outlook on NewAmsterdam Pharma, with several issuing "buy" ratings and a consensus price target of $41.55.

NewAmsterdam Pharma Company N.V. (NASDAQ:NAMS - Get Free Report) fell 9.7% on Monday after an insider sold shares in the company. The stock traded as low as $24.60 and last traded at $24.38. 255,361 shares changed hands during mid-day trading, a decline of 71% from the average session volume of 870,648 shares. The stock had previously closed at $27.00.

Specifically, CAO Louise Frederika Kooij sold 18,073 shares of NewAmsterdam Pharma stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $25.09, for a total transaction of $453,451.57. Following the transaction, the chief accounting officer directly owned 15,000 shares of the company's stock, valued at $376,350. The trade was a 54.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Analyst Upgrades and Downgrades

NAMS has been the topic of a number of analyst reports. Wells Fargo & Company initiated coverage on shares of NewAmsterdam Pharma in a report on Monday, August 25th. They set an "overweight" rating and a $45.00 price objective on the stock. 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. Royal Bank Of Canada lifted their price objective on shares of NewAmsterdam Pharma from $38.00 to $39.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. Cantor Fitzgerald initiated coverage on shares of NewAmsterdam Pharma in a report on Wednesday, June 4th. They issued an "overweight" rating and a $42.00 price target on the stock. Finally, Needham & Company LLC reissued a "buy" rating and issued a $40.00 price target on shares of NewAmsterdam Pharma in a report on Thursday, June 12th. Nine equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. 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 Price Performance

The firm has a market capitalization of $2.80 billion, a PE ratio of -15.10 and a beta of -0.01. The company's fifty day simple moving average is $22.98 and its 200 day simple moving average is $20.57.

NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported ($0.15) EPS for the quarter, beating the consensus estimate of ($0.52) by $0.37. The business had revenue of $19.15 million for the quarter, compared to the consensus estimate of $1.44 million. NewAmsterdam Pharma had a negative net margin of 259.07% and a negative return on equity of 27.27%. On average, analysts anticipate that NewAmsterdam Pharma Company N.V. will post -1.75 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NewAmsterdam Pharma

Several institutional investors have recently added to or reduced their stakes in the business. China Universal Asset Management Co. Ltd. increased its position in shares of NewAmsterdam Pharma by 2.4% during the second quarter. China Universal Asset Management Co. Ltd. now owns 22,549 shares of the company's stock valued at $408,000 after buying an additional 521 shares during the period. Duquesne Family Office LLC increased its position in shares of NewAmsterdam Pharma by 4.0% during the second quarter. Duquesne Family Office LLC now owns 832,175 shares of the company's stock valued at $15,071,000 after buying an additional 31,815 shares during the period. Exome Asset Management LLC bought a new stake in shares of NewAmsterdam Pharma during the second quarter valued at about $662,000. Frazier Life Sciences Management L.P. increased its position in shares of NewAmsterdam Pharma by 3.0% during the second quarter. Frazier Life Sciences Management L.P. now owns 16,607,074 shares of the company's stock valued at $300,754,000 after buying an additional 490,656 shares during the period. Finally, BNP Paribas Financial Markets increased its position in shares of NewAmsterdam Pharma by 4.5% during the second quarter. BNP Paribas Financial Markets now owns 29,277 shares of the company's stock valued at $530,000 after buying an additional 1,257 shares during the period. 89.89% of the stock is owned by hedge funds and other institutional investors.

About NewAmsterdam Pharma

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.