NewAmsterdam Pharma (NASDAQ:NAMS) Shares Up 8.9% - Time to Buy?

NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report) shot up 8.9% during mid-day trading on Wednesday . The company traded as high as $19.36 and last traded at $19.47. 70,276 shares were traded during mid-day trading, a decline of 89% from the average session volume of 621,575 shares. The stock had previously closed at $17.88.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on NAMS. Needham & Company LLC reduced their price target on shares of NewAmsterdam Pharma from $46.00 to $42.00 and set a "buy" rating on the stock in a report on Thursday. Scotiabank upped 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. 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. Finally, Royal Bank of Canada restated an "outperform" rating and set a $40.00 target price on shares of NewAmsterdam Pharma in a research report on Friday, January 24th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $43.80.

NewAmsterdam Pharma Trading Up 0.4 %

The firm's 50-day moving average price is $22.55 and its 200-day moving average price is $20.30.

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

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Insider Buying and Selling

In related news, major shareholder Nap B.V. Forgrowth sold 166,011 shares of the stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $25.39, for a total value of $4,215,019.29. Following the sale, the insider now directly owns 11,150,461 shares of the company's stock, valued at $283,110,204.79. This represents a 1.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold 404,927 shares of company stock valued at $10,390,787 in the last ninety days. 19.50% of the stock is owned by company insiders.

Institutional Trading of NewAmsterdam Pharma

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Deerfield Management Company L.P. Series C grew its stake in NewAmsterdam Pharma by 378.4% in 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 acquiring an additional 3,412,590 shares in the last quarter. Frazier Life Sciences Management L.P. grew its stake 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 worth $409,052,000 after acquiring an additional 3,061,224 shares in the last quarter. Jennison Associates LLC grew its stake in NewAmsterdam Pharma by 291.9% in the 4th 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 in the last quarter. Wellington Management Group LLP grew its stake in NewAmsterdam Pharma by 2,410.4% in the 4th quarter. Wellington Management Group LLP now owns 2,315,123 shares of the company's stock worth $59,499,000 after acquiring an additional 2,222,900 shares in the last quarter. Finally, Capital International Investors bought a new position in NewAmsterdam Pharma in the 4th quarter worth about $53,007,000. 89.89% of the stock is owned by hedge funds and other institutional investors.

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.