NewAmsterdam Pharma (NASDAQ:NAMS) Sees Significant Increase in Short Interest

NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report) saw a significant growth in short interest during the month of March. As of March 31st, there was short interest totalling 5,340,000 shares, a growth of 23.0% from the March 15th total of 4,340,000 shares. Currently, 9.4% of the company's stock are short sold. Based on an average daily volume of 996,300 shares, the short-interest ratio is presently 5.4 days.

Insider Transactions at NewAmsterdam Pharma

In related news, Director James N. Topper acquired 1,135 shares of the business's stock in a transaction on Wednesday, March 26th. The stock was purchased at an average cost of $22.49 per share, for a total transaction of $25,526.15. Following the completion of the transaction, the director now directly owns 3,013,569 shares of the company's stock, valued at approximately $67,775,166.81. The trade was a 0.04 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Louise Frederika Kooij sold 150,000 shares of the firm's stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $20.37, for a total value of $3,055,500.00. Following the transaction, the chief accounting officer now owns 15,000 shares in the company, valued at approximately $305,550. This trade represents a 90.91 % decrease in their position. The disclosure for this sale can be found here. 19.50% of the stock is currently owned by insiders.

Institutional Trading of NewAmsterdam Pharma

Several institutional investors and hedge funds have recently made changes to their positions in NAMS. Frazier Life Sciences Management L.P. grew its position in NewAmsterdam Pharma by 23.8% in the 4th quarter. Frazier Life Sciences Management L.P. now owns 15,916,418 shares of the company's stock valued at $409,052,000 after buying an additional 3,061,224 shares during the last quarter. Bain Capital Life Sciences Investors LLC raised its position in shares of NewAmsterdam Pharma by 2.3% during the 4th quarter. Bain Capital Life Sciences Investors LLC now owns 10,719,110 shares of the company's stock worth $275,481,000 after purchasing an additional 245,197 shares during the last quarter. RA Capital Management L.P. raised its holdings in shares of NewAmsterdam Pharma by 9.7% in the fourth quarter. RA Capital Management L.P. now owns 8,845,000 shares of the company's stock worth $227,316,000 after acquiring an additional 781,000 shares during the last quarter. Deerfield Management Company L.P. Series C boosted its stake in shares of NewAmsterdam Pharma by 378.4% during the 4th quarter. Deerfield Management Company L.P. Series C now owns 4,314,340 shares of the company's stock worth $110,879,000 after purchasing an additional 3,412,590 shares during the last quarter. Finally, Jennison Associates LLC boosted its position in NewAmsterdam Pharma by 291.9% during the fourth quarter. Jennison Associates LLC now owns 3,998,541 shares of the company's stock worth $102,763,000 after acquiring an additional 2,978,263 shares during the last quarter. 89.89% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NAMS has been the topic of a number of recent analyst reports. UBS Group set a $41.00 target price on shares of NewAmsterdam Pharma in a research note on Monday, March 3rd. Royal Bank of Canada reissued an "outperform" rating and set a $40.00 target price on shares of NewAmsterdam Pharma in a research note on Friday, January 24th. HC Wainwright reiterated a "buy" rating and set a $48.00 target price on shares of NewAmsterdam Pharma in a report on Tuesday, January 14th. Needham & Company LLC reissued a "buy" rating and set a $42.00 price target on shares of NewAmsterdam Pharma in a research report on Tuesday, April 8th. Finally, Scotiabank raised their price target on NewAmsterdam Pharma from $47.00 to $52.00 and gave the company a "sector outperform" rating in a report on Thursday, February 27th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, NewAmsterdam Pharma has an average rating of "Buy" and a consensus target price of $43.33.

NewAmsterdam Pharma Stock Up 1.2 %

Shares of NAMS stock traded up $0.20 during trading hours on Thursday, hitting $17.47. 634,042 shares of the company's stock were exchanged, compared to its average volume of 591,471. The firm has a market cap of $1.92 billion, a P/E ratio of -6.72 and a beta of -0.01. The firm has a 50 day moving average of $19.66 and a two-hundred day moving average of $21.20. NewAmsterdam Pharma has a fifty-two week low of $14.06 and a fifty-two week high of $27.29.

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

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.