NewAmsterdam Pharma (NASDAQ:NAMS) Sees Large Growth in Short Interest

NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report) saw a significant increase in short interest in the month of March. As of March 15th, there was short interest totalling 4,340,000 shares, an increase of 42.8% from the February 28th total of 3,040,000 shares. Currently, 7.5% of the shares of the stock are short sold. Based on an average trading volume of 843,800 shares, the days-to-cover ratio is presently 5.1 days.

Analysts Set New Price Targets

NAMS has been the subject of several recent research reports. Needham & Company LLC dropped their target price on shares of NewAmsterdam Pharma from $46.00 to $42.00 and set a "buy" rating for the company in a report on Thursday, February 27th. HC Wainwright restated a "buy" rating and set a $48.00 price objective on shares of NewAmsterdam Pharma in a research report on Tuesday, January 14th. UBS Group set a $41.00 target price on NewAmsterdam Pharma in a report on Monday, March 3rd. Scotiabank boosted their price target on NewAmsterdam Pharma from $47.00 to $52.00 and gave the stock a "sector outperform" rating in a report on Thursday, February 27th. Finally, Royal Bank of Canada restated an "outperform" rating and set a $40.00 target price on shares of NewAmsterdam Pharma in a research report on Friday, January 24th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $43.33.

Insider Buying and Selling at NewAmsterdam Pharma

In other NewAmsterdam Pharma news, CAO Louise Frederika Kooij sold 150,000 shares of the business's stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $20.37, for a total transaction of $3,055,500.00. Following the sale, the chief accounting officer now directly owns 15,000 shares in the company, valued at approximately $305,550. The trade was a 90.91 % 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 1,135 shares of the company's stock in a transaction dated Wednesday, March 26th. The stock was purchased at an average price of $22.49 per share, with a total value of $25,526.15. Following the transaction, the director now owns 3,013,569 shares of the company's stock, valued at approximately $67,775,166.81. This represents a 0.04 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 19.50% of the stock is owned by corporate insiders.

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Hedge Funds Weigh In On NewAmsterdam Pharma

Several hedge funds and other institutional investors have recently bought and sold shares of NAMS. GF Fund Management CO. LTD. acquired a new stake in NewAmsterdam Pharma in the fourth quarter valued at $50,000. National Bank of Canada FI bought a new position in shares of NewAmsterdam Pharma during the fourth quarter worth about $51,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of NewAmsterdam Pharma during the fourth quarter worth about $80,000. KLP Kapitalforvaltning AS bought a new stake in NewAmsterdam Pharma in the fourth quarter valued at about $154,000. Finally, Quarry LP increased its holdings in NewAmsterdam Pharma by 2,469.2% in the third quarter. Quarry LP now owns 6,500 shares of the company's stock valued at $108,000 after buying an additional 6,247 shares during the last quarter. 89.89% of the stock is owned by institutional investors and hedge funds.

NewAmsterdam Pharma Trading Down 10.2 %

Shares of NewAmsterdam Pharma stock traded down $2.09 during trading hours on Tuesday, reaching $18.38. The stock had a trading volume of 2,585,205 shares, compared to its average volume of 544,618. NewAmsterdam Pharma has a 1 year low of $15.19 and a 1 year high of $27.29. The firm has a market capitalization of $2.02 billion, a price-to-earnings ratio of -7.07 and a beta of -0.04. The firm has a 50 day simple moving average of $21.60 and a two-hundred day simple moving average of $21.30.

NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report) last issued its earnings results on Wednesday, February 26th. The company reported ($0.95) EPS for the quarter, missing analysts' consensus estimates of ($0.48) by ($0.47). The firm had revenue of $12.77 million for the quarter, compared to analyst estimates of $3.30 million. Sell-side analysts forecast that NewAmsterdam Pharma will post -1.75 EPS for the current year.

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.