NewAmsterdam Pharma (NASDAQ:NAMS) Shares Gap Up After Earnings Beat

Key Points

• NewAmsterdam Pharma beat quarterly estimates: It reported an adjusted loss of $0.14 per share versus the $0.49 loss expected, while revenue of $19.16 million exceeded the $7.54 million consensus.
• The shares opened at $22.26, up from the prior close of $19.90, but later traded near $19.98.
• Analyst sentiment was broadly positive, with a MarketBeat consensus rating of “Moderate Buy” and a $48.90 price target. Insiders sold 176,846 shares worth about $4.66 million over the past 90 days.

NewAmsterdam Pharma Company N.V. (NASDAQ:NAMS - Get Free Report)'s stock price gapped up before the market opened on Wednesday after the company announced better than expected quarterly earnings. The stock had previously closed at $19.90, but opened at $22.26. NewAmsterdam Pharma shares last traded at $19.9750, with a volume of 37,448 shares.

The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.49) by $0.35. NewAmsterdam Pharma had a negative return on equity of 34.81% and a negative net margin of 3,644.21%. The firm had revenue of $19.16 million during the quarter, compared to the consensus estimate of $7.54 million.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on NAMS. Jefferies Financial Group reaffirmed a "buy" rating and set a $45.00 price objective on shares of NewAmsterdam Pharma in a research note on Monday, July 20th. Royal Bank Of Canada reduced their price target on NewAmsterdam Pharma from $50.00 to $42.00 and set an "outperform" rating on the stock in a report on Monday, October 5th. HC Wainwright restated a "buy" rating and set a $52.00 price target on shares of NewAmsterdam Pharma in a report on Tuesday, September 8th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of NewAmsterdam Pharma in a research report on Thursday, October 15th. Finally, BMO Capital Markets started coverage on NewAmsterdam Pharma in a report on Monday, July 20th. They issued an "outperform" rating and a $58.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, NewAmsterdam Pharma presently has a consensus rating of "Moderate Buy" and a consensus price target of $48.90.

Insider Transactions at NewAmsterdam Pharma

In related news, insider Johannes Kastelein sold 50,246 shares of the stock in a transaction dated Wednesday, September 30th. The shares were sold at an average price of $25.03, for a total value of $1,257,657.38. Following the completion of the transaction, the insider directly owned 69,302 shares of the company's stock, valued at $1,734,629.06. This represents a 42.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director John W. Smither sold 1,600 shares of the stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $25.32, for a total transaction of $40,512.00. Following the completion of the transaction, the director directly owned 8,760 shares of the company's stock, valued at approximately $221,803.20. The trade was a 15.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 176,846 shares of company stock valued at $4,661,919. Company insiders own 12.74% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in NAMS. Frazier Life Sciences Management L.P. boosted its stake in NewAmsterdam Pharma by 6.8% during the second quarter. Frazier Life Sciences Management L.P. now owns 18,088,902 shares of the company's stock worth $613,033,000 after acquiring an additional 1,145,128 shares in the last quarter. Maverick Capital Ltd. grew its holdings in NewAmsterdam Pharma by 15.4% in the first quarter. Maverick Capital Ltd. now owns 2,186,402 shares of the company's stock worth $69,987,000 after purchasing an additional 292,176 shares during the period. Bank of America Corp DE increased its stake in shares of NewAmsterdam Pharma by 84.4% during the first quarter. Bank of America Corp DE now owns 847,089 shares of the company's stock valued at $27,115,000 after purchasing an additional 387,698 shares in the last quarter. SEB Asset Management AB bought a new position in shares of NewAmsterdam Pharma during the first quarter valued at approximately $8,728,000. Finally, Stempoint Capital LP lifted its holdings in shares of NewAmsterdam Pharma by 147.1% during the first quarter. Stempoint Capital LP now owns 180,658 shares of the company's stock valued at $5,783,000 after purchasing an additional 107,552 shares during the last quarter. Institutional investors own 89.89% of the company's stock.

NewAmsterdam Pharma Stock Up 1.4%

The company's fifty day moving average price is $22.56 and its 200-day moving average price is $29.71. The stock has a market capitalization of $2.41 billion, a PE ratio of -9.34 and a beta of 0.15.

About NewAmsterdam Pharma

NewAmsterdam Pharma NASDAQ: NAMS is a clinical-stage biopharmaceutical company focused on developing therapies for cardiometabolic diseases. The company's primary investigational product is obicetrapib, an oral, low-dose cholesteryl ester transfer protein (CETP) inhibitor designed to reduce low-density lipoprotein cholesterol and potentially address residual cardiovascular risk in patients who remain inadequately controlled on existing treatments.

NewAmsterdam is evaluating obicetrapib in late-stage clinical studies involving patients with dyslipidemia, including individuals with heterozygous familial hypercholesterolemia and patients who are unable to reach cholesterol goals with currently available therapies.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.