NewAmsterdam Pharma (NASDAQ:NAMS) Upgraded by Wall Street Zen to Hold Rating

NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "sell" rating to a "hold" rating in a report issued on Saturday.

A number of other equities research analysts also recently commented on NAMS. Needham & Company LLC restated a "buy" rating and issued a $40.00 price objective on shares of NewAmsterdam Pharma in a research report on Thursday, June 12th. Stifel Nicolaus began 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. Citigroup began coverage on NewAmsterdam Pharma in a report on Tuesday, June 17th. They set a "buy" rating and a $42.00 price objective on the stock. Finally, Cantor Fitzgerald began coverage on NewAmsterdam Pharma in a research report on Wednesday, June 4th. They issued an "overweight" rating and a $42.00 price objective for the company. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $42.89.

NewAmsterdam Pharma Price Performance

Shares of NASDAQ:NAMS traded up $0.56 during trading on Friday, reaching $20.02. The company had a trading volume of 898,786 shares, compared to its average volume of 729,045. NewAmsterdam Pharma has a fifty-two week low of $14.06 and a fifty-two week high of $27.29. The stock's fifty day moving average price is $18.98 and its 200 day moving average price is $20.41. The firm has a market capitalization of $2.25 billion, a price-to-earnings ratio of -10.65 and a beta of -0.03.

NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $2.98 million during the quarter, compared to analysts' expectations of $1.46 million. On average, equities analysts anticipate that NewAmsterdam Pharma will post -1.75 EPS for the current fiscal year.

Insider Buying and Selling

In other NewAmsterdam Pharma news, COO Douglas F. Kling sold 100,000 shares of the business'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 sale, the chief operating officer directly owned 44,000 shares in the company, valued at approximately $848,760. The trade was a 69.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James N. Topper purchased 2,520 shares of the company's stock in a transaction dated Tuesday, June 24th. The stock was purchased at an average price of $18.43 per share, with a total value of $46,443.60. Following the transaction, the director owned 3,024,873 shares of the company's stock, valued at approximately $55,748,409.39. This represents a 0.08% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 12,364 shares of company stock worth $236,839. Insiders own 20.84% of the company's stock.

Hedge Funds Weigh In On NewAmsterdam Pharma

Several hedge funds have recently added to or reduced their stakes in NAMS. Frazier Life Sciences Management L.P. grew its position in shares of NewAmsterdam Pharma by 1.3% in the first quarter. Frazier Life Sciences Management L.P. now owns 16,116,418 shares of the company's stock valued at $329,903,000 after purchasing an additional 200,000 shares during the last quarter. Bain Capital Life Sciences Investors LLC lifted its stake in NewAmsterdam Pharma by 2.3% in the 4th quarter. Bain Capital Life Sciences Investors LLC now owns 10,719,110 shares of the company's stock valued at $275,481,000 after buying an additional 245,197 shares in the last quarter. RA Capital Management L.P. lifted its stake in NewAmsterdam Pharma by 14.6% in the 1st quarter. RA Capital Management L.P. now owns 10,138,938 shares of the company's stock valued at $207,544,000 after buying an additional 1,293,938 shares in the last quarter. Deerfield Management Company L.P. Series C grew its holdings in NewAmsterdam Pharma by 378.4% during the 4th quarter. Deerfield Management Company L.P. Series C now owns 4,314,340 shares of the company's stock valued at $110,879,000 after buying an additional 3,412,590 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in NewAmsterdam Pharma by 53.0% during the first quarter. Wellington Management Group LLP now owns 3,541,975 shares of the company's stock worth $72,504,000 after buying an additional 1,226,852 shares in the last quarter. 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.