NewAmsterdam Pharma (NASDAQ:NAMS) Stock Price Up 8.8% - Here's Why

Key Points

• NewAmsterdam Pharma's stock price increased by 8.8% to $33.36 after trading as high as $34.62, even amid a 19% decline in average trading volume.
• Analysts have mixed ratings for the stock with a consensus price target of $42.00, including a "buy" rating from Needham & Company LLC with a target of $40.00.
• The company reported earnings of ($0.15) EPS for the last quarter, exceeding expectations significantly with revenue of $19.15 million compared to estimates of $1.44 million.

NewAmsterdam Pharma Company N.V. (NASDAQ:NAMS - Get Free Report) rose 8.8% during trading on Monday . The stock traded as high as $34.62 and last traded at $33.36. Approximately 724,138 shares traded hands during trading, a decline of 19% from the average daily volume of 889,054 shares. The stock had previously closed at $30.67.

Analyst Ratings Changes

NAMS has been the topic of several research reports. The Goldman Sachs Group initiated coverage on shares of NewAmsterdam Pharma in a report on Thursday, July 17th. They set a "neutral" rating and a $27.00 price target on the stock. Needham & Company LLC reiterated a "buy" rating and set a $40.00 price target on shares of NewAmsterdam Pharma in a report on Thursday, June 12th. Royal Bank Of Canada raised their price objective on NewAmsterdam Pharma from $38.00 to $39.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of NewAmsterdam Pharma in a report on Saturday, September 27th. Finally, Wells Fargo & Company assumed coverage on NewAmsterdam Pharma in a research report on Monday, August 25th. They issued an "overweight" rating and a $45.00 target price for the company. Eight analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, NewAmsterdam Pharma has an average rating of "Moderate Buy" and a consensus price target of $42.00.

NewAmsterdam Pharma Stock Performance

The business has a 50 day simple moving average of $25.25 and a 200-day simple moving average of $21.27. The firm has a market cap of $3.66 billion, a price-to-earnings ratio of -20.05 and a beta of 0.02.

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

Insider Activity

In related news, insider Johannes Jacob Piete Kastelein sold 50,000 shares of NewAmsterdam Pharma stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $24.29, for a total transaction of $1,214,500.00. Following the sale, the insider directly owned 119,302 shares in the company, valued at approximately $2,897,845.58. This trade represents a 29.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Louise Frederika Kooij sold 150,000 shares of the company's stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $25.83, for a total value of $3,874,500.00. Following the completion of the transaction, the chief accounting officer owned 15,000 shares of the company's stock, valued at $387,450. This trade represents a 90.91% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have acquired 2,391 shares of company stock valued at $58,424 and have sold 324,954 shares valued at $7,844,906. 20.84% of the stock is owned by insiders.

Institutional Trading of NewAmsterdam Pharma

Hedge funds have recently added to or reduced their stakes in the stock. Quarry LP purchased a new stake in shares of NewAmsterdam Pharma during the 1st quarter worth approximately $25,000. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of NewAmsterdam Pharma by 19.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,675 shares of the company's stock valued at $80,000 after buying an additional 596 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew 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 acquiring an additional 3,390 shares during the period. Avanza Fonder AB bought a new position in shares of NewAmsterdam Pharma during the 1st quarter worth $127,000. Finally, KLP Kapitalforvaltning AS increased its holdings in NewAmsterdam Pharma by 51.7% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 9,100 shares of the company's stock worth $165,000 after acquiring an additional 3,100 shares during the last quarter. Institutional investors own 89.89% of the company's stock.

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.