NewAmsterdam Pharma (NASDAQ:NAMS) Reaches New 12-Month Low - Here's Why

NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report)'s stock price reached a new 52-week low on Monday . The company traded as low as $14.06 and last traded at $15.38, with a volume of 885994 shares. The stock had previously closed at $15.81.

Analysts Set New Price Targets

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

NewAmsterdam Pharma Stock Up 1.5 %

The firm has a market cap of $1.66 billion, a price-to-earnings ratio of -5.82 and a beta of -0.01. The firm has a fifty day moving average price of $20.26 and a 200-day moving average price of $21.26.

Remove Ads

NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report) last posted its quarterly earnings results 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 business had revenue of $12.77 million for the quarter, compared to the consensus estimate of $3.30 million. Equities research analysts anticipate that NewAmsterdam Pharma will post -1.75 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director James N. Topper acquired 4,005 shares of the company's stock in a transaction dated Tuesday, March 4th. The shares were bought at an average price of $21.02 per share, for a total transaction of $84,185.10. Following the completion of the purchase, the director now directly owns 3,012,434 shares of the company's stock, valued at approximately $63,321,362.68. This trade represents a 0.13 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, 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 completion of the transaction, the chief accounting officer now owns 15,000 shares in the company, valued at $305,550. This represents a 90.91 % decrease in their position. The disclosure for this sale can be found here. 19.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC lifted its holdings in shares of NewAmsterdam Pharma by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 86,322 shares of the company's stock worth $1,433,000 after purchasing an additional 1,399 shares during the last quarter. GF Fund Management CO. LTD. acquired a new stake in NewAmsterdam Pharma in the fourth quarter worth $50,000. National Bank of Canada FI acquired a new stake in NewAmsterdam Pharma in the fourth quarter worth $51,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in NewAmsterdam Pharma in the fourth quarter valued at $80,000. Finally, California State Teachers Retirement System boosted its holdings in shares of NewAmsterdam Pharma by 23.5% during the fourth quarter. California State Teachers Retirement System now owns 19,404 shares of the company's stock valued at $499,000 after acquiring an additional 3,694 shares during the period. Institutional investors and hedge funds own 89.89% of the company's stock.

About NewAmsterdam Pharma

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.