NewAmsterdam Pharma (NASDAQ:NAMS) Stock Price Down 8.5% - What's Next?

Shares of NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report) dropped 8.5% on Monday . The stock traded as low as $19.78 and last traded at $19.91. Approximately 826,478 shares changed hands during mid-day trading, an increase of 55% from the average daily volume of 533,847 shares. The stock had previously closed at $21.76.

Wall Street Analysts Forecast Growth

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

NewAmsterdam Pharma Price Performance

The company has a fifty day moving average price of $21.29 and a 200 day moving average price of $21.27. The stock has a market cap of $1.74 billion, a P/E ratio of -6.08 and a beta of -0.04.

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NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report) last announced its quarterly 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 business had revenue of $12.77 million for the quarter, compared to analyst estimates of $3.30 million. As a group, sell-side analysts expect that NewAmsterdam Pharma will post -1.75 earnings per share for the current fiscal year.

Insider Transactions at NewAmsterdam Pharma

In related news, CAO Louise Frederika Kooij sold 150,000 shares of the company'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 sale, the chief accounting officer now owns 15,000 shares in the company, valued at approximately $305,550. This represents a 90.91 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director James N. Topper acquired 1,135 shares of the company's stock in a transaction on Wednesday, March 26th. The shares were bought at an average price of $22.49 per share, for a total transaction of $25,526.15. Following the completion of the purchase, the director now owns 3,013,569 shares in the company, valued at approximately $67,775,166.81. This represents a 0.04 % increase in their position. The disclosure for this purchase can be found here. 19.50% of the stock is currently owned by insiders.

Institutional Trading of NewAmsterdam Pharma

Institutional investors have recently made changes to their positions in the company. GF Fund Management CO. LTD. purchased a new position in NewAmsterdam Pharma during the fourth quarter worth about $50,000. National Bank of Canada FI bought a new position in shares of NewAmsterdam Pharma during the 4th quarter worth approximately $51,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of NewAmsterdam Pharma in the 4th quarter worth approximately $80,000. Quarry LP grew its holdings in shares of 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 acquiring an additional 6,247 shares in the last quarter. Finally, Barclays PLC increased its position in shares of NewAmsterdam Pharma by 1,813.4% during the third quarter. Barclays PLC now owns 7,596 shares of the company's stock valued at $126,000 after acquiring an additional 7,199 shares during the last quarter. Institutional investors own 89.89% of the company's stock.

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.