NewAmsterdam Pharma (NASDAQ:NAMS) Sees Strong Trading Volume After Insider Buying Activity

NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report) saw an uptick in trading volume on Thursday after an insider bought additional shares in the company. 1,197,625 shares changed hands during trading, an increase of 162% from the previous session's volume of 457,044 shares.The stock last traded at $23.28 and had previously closed at $23.02.

Specifically, Director James N. Topper purchased 4,005 shares of NewAmsterdam Pharma stock in a transaction that occurred on Tuesday, March 4th. The stock was purchased at an average cost of $21.02 per share, with a total value of $84,185.10. Following the completion of the transaction, the director now directly owns 3,012,434 shares in the company, valued at approximately $63,321,362.68. The trade was a 0.13 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Analysts Set New Price Targets

A number of analysts have recently commented on NAMS shares. Needham & Company LLC cut their target price on NewAmsterdam Pharma from $46.00 to $42.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. HC Wainwright reaffirmed a "buy" rating and set a $48.00 price target on shares of NewAmsterdam Pharma in a research report on Tuesday, January 14th. UBS Group set a $41.00 price objective on NewAmsterdam Pharma in a research note on Monday, March 3rd. Scotiabank raised their target price on shares of NewAmsterdam Pharma from $47.00 to $52.00 and gave the stock a "sector outperform" rating in a research report on Thursday, February 27th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $40.00 target price on shares of NewAmsterdam Pharma in a report on Friday, January 24th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $43.33.

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NewAmsterdam Pharma Trading Down 2.0 %

The firm has a 50 day simple moving average of $22.20 and a two-hundred day simple moving average of $20.54. The company has a market capitalization of $2.15 billion, a PE ratio of -8.99 and a beta of -0.04.

NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report) last posted its quarterly earnings data on Wednesday, February 26th. The company reported ($0.95) earnings per share for the quarter, missing analysts' consensus estimates of ($0.48) by ($0.47). The company had revenue of $12.77 million for the quarter, compared to analysts' expectations of $3.30 million. Research analysts expect that NewAmsterdam Pharma will post -1.75 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. TimesSquare Capital Management LLC boosted its holdings in NewAmsterdam Pharma by 3.7% in the 3rd quarter. TimesSquare Capital Management LLC now owns 255,245 shares of the company's stock valued at $4,237,000 after purchasing an additional 9,160 shares in the last quarter. Lisanti Capital Growth LLC acquired a new stake in shares of NewAmsterdam Pharma in the 3rd quarter valued at approximately $700,000. GSA Capital Partners LLP boosted its stake in shares of NewAmsterdam Pharma by 79.9% in the third quarter. GSA Capital Partners LLP now owns 66,402 shares of the company's stock valued at $1,102,000 after buying an additional 29,496 shares in the last quarter. Jennison Associates LLC grew its holdings in NewAmsterdam Pharma by 8.9% during the third quarter. Jennison Associates LLC now owns 1,020,278 shares of the company's stock worth $16,937,000 after acquiring an additional 83,115 shares during the period. Finally, HealthInvest Partners AB grew its holdings in NewAmsterdam Pharma by 83.4% during the third quarter. HealthInvest Partners AB now owns 138,983 shares of the company's stock worth $2,307,000 after acquiring an additional 63,189 shares during the period. 89.89% of the stock is currently owned by institutional investors and hedge funds.

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.