NewAmsterdam Pharma (NASDAQ:NAMS) Trading Down 9.7% on 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)'s stock price traded down 9.7% during mid-day trading on Monday following insider selling activity. The stock traded as low as $24.60 and last traded at $24.38. 255,361 shares traded hands during 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 the company's stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $25.09, for a total value of $453,451.57. Following the transaction, the chief accounting officer owned 15,000 shares of the company's stock, valued at $376,350. This represents a 54.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Citigroup assumed coverage on shares of NewAmsterdam Pharma in a research report on Tuesday, June 17th. They issued a "buy" rating and a $42.00 target price on the stock. Stifel Nicolaus assumed coverage on shares of NewAmsterdam Pharma in a research report on Tuesday, June 10th. They issued a "buy" rating and a $44.00 target price on the stock. Royal Bank Of Canada upped their target price 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. Wells Fargo & Company began coverage on shares of NewAmsterdam Pharma in a research report on Monday, August 25th. They set an "overweight" rating and a $45.00 price target on the stock. Finally, The Goldman Sachs Group began coverage on shares of NewAmsterdam Pharma in a research report on Thursday, July 17th. They set a "neutral" rating and a $27.00 price target on the stock. Nine analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $41.55.

NewAmsterdam Pharma Stock Down 9.1%

The firm has a market cap of $2.72 billion, a price-to-earnings ratio of -14.93 and a beta of -0.01. The company's 50-day moving average price is $23.67 and its 200-day moving average price is $20.81.

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

Institutional Trading of NewAmsterdam Pharma

A number of large investors have recently made changes to their positions in NAMS. Quarry LP purchased a new stake in shares of NewAmsterdam Pharma during the first quarter worth approximately $25,000. GF Fund Management CO. LTD. purchased a new stake in shares of NewAmsterdam Pharma during the fourth quarter worth approximately $50,000. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of NewAmsterdam Pharma by 18.0% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,337 shares of the company's stock worth $79,000 after buying an additional 662 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of NewAmsterdam Pharma by 130.4% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,990 shares of the company's stock worth $123,000 after buying an additional 3,390 shares during the period. Finally, Avanza Fonder AB purchased a new stake in shares of NewAmsterdam Pharma during the first quarter worth approximately $127,000. 89.89% of the stock is currently 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.