NewAmsterdam Pharma (NASDAQ:NAMS) Trading 3.9% Higher - Time to Buy?

NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report)'s stock price traded up 3.9% on Tuesday . The stock traded as high as $21.36 and last traded at $21.07. 324,872 shares traded hands during mid-day trading, a decline of 26% from the average session volume of 440,532 shares. The stock had previously closed at $20.27.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Needham & Company LLC decreased their target price on shares of NewAmsterdam Pharma from $46.00 to $42.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. Royal Bank of Canada reissued an "outperform" rating and issued a $40.00 target price on shares of NewAmsterdam Pharma in a research note on Friday, January 24th. Scotiabank raised 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 note on Thursday, February 27th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $48.00 price target on shares of NewAmsterdam Pharma in a report on Tuesday, January 14th. 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 target price of $43.80.

NewAmsterdam Pharma Stock Performance

The firm has a fifty day simple moving average of $22.20 and a 200-day simple moving average of $20.51. The firm has a market cap of $2.20 billion, a price-to-earnings ratio of -9.15 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) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.48) by ($0.47). The business had revenue of $12.77 million during the quarter, compared to analyst estimates of $3.30 million. Analysts expect that NewAmsterdam Pharma will post -1.75 earnings per share for the current fiscal year.

Insider Transactions at NewAmsterdam Pharma

In other news, major shareholder Nap B.V. Forgrowth sold 166,011 shares of NewAmsterdam Pharma stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $25.39, for a total transaction of $4,215,019.29. Following the completion of the sale, the insider now owns 11,150,461 shares of the company's stock, valued at approximately $283,110,204.79. This trade represents a 1.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James N. Topper bought 4,005 shares of the company's stock in a transaction dated Tuesday, March 4th. The shares were purchased at an average cost of $21.02 per share, with a total value of $84,185.10. Following the acquisition, the director now directly 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. Over the last 90 days, insiders sold 554,927 shares of company stock valued at $13,446,287. 19.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On NewAmsterdam Pharma

A number of hedge funds and other institutional investors have recently modified their holdings of the company. GF Fund Management CO. LTD. bought a new position in shares of NewAmsterdam Pharma in the fourth quarter worth $50,000. National Bank of Canada FI bought a new position in shares of NewAmsterdam Pharma in the fourth quarter worth $51,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of NewAmsterdam Pharma in the fourth quarter worth $80,000. KLP Kapitalforvaltning AS bought a new position in shares of NewAmsterdam Pharma in the fourth quarter worth $154,000. Finally, Quarry LP increased its position 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 worth $108,000 after purchasing an additional 6,247 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.