NewAmsterdam Pharma (NASDAQ:NAMS) Sees Unusually-High Trading Volume - Time to Buy?

NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report) saw an uptick in trading volume on Tuesday . 1,918,939 shares changed hands during trading, an increase of 254% from the previous session's volume of 542,557 shares.The stock last traded at $18.36 and had previously closed at $20.47.

Wall Street Analyst Weigh In

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

NewAmsterdam Pharma Stock Down 12.2 %

The stock's 50 day moving average price is $21.13 and its two-hundred day moving average price is $21.31. The stock has a market cap of $1.74 billion, a price-to-earnings ratio of -6.08 and a beta of -0.01.

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NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report) last posted its earnings results on Wednesday, February 26th. The company reported ($0.95) earnings per share (EPS) for the quarter, missing the consensus estimate 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. On average, analysts predict that NewAmsterdam Pharma will post -1.75 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Louise Frederika Kooij sold 150,000 shares of the company's stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $20.37, for a total transaction of $3,055,500.00. Following the completion of the sale, the chief accounting officer now owns 15,000 shares of the company's stock, valued at $305,550. This represents a 90.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James N. Topper purchased 4,005 shares of the firm's stock in a transaction dated Tuesday, March 4th. The stock was acquired at an average cost of $21.02 per share, for a total transaction of $84,185.10. Following the completion of the purchase, the director now owns 3,012,434 shares of the company's stock, valued at approximately $63,321,362.68. This represents a 0.13 % increase in their position. The disclosure for this purchase can be found here. 19.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. GF Fund Management CO. LTD. purchased a new stake in NewAmsterdam Pharma in the 4th quarter valued at $50,000. National Bank of Canada FI purchased a new stake in shares of NewAmsterdam Pharma in the fourth quarter valued at about $51,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in NewAmsterdam Pharma during the fourth quarter worth about $80,000. KLP Kapitalforvaltning AS purchased a new position in NewAmsterdam Pharma during the fourth quarter worth about $154,000. Finally, Quarry LP boosted its holdings in NewAmsterdam Pharma by 2,469.2% in the 3rd quarter. Quarry LP now owns 6,500 shares of the company's stock valued at $108,000 after purchasing an additional 6,247 shares during the last quarter. 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.