NewAmsterdam Pharma (NASDAQ:NAMS) Shares Up 8.9% – Should You Buy?

NewAmsterdam Pharma (NASDAQ:NAMS) shares traded up 8.9% during trading on Wednesday . The stock traded as high as $19.36 and last traded at $19.47. 70,276 shares changed hands during 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

Several equities research analysts recently commented on the company. Scotiabank increased their price objective on NewAmsterdam Pharma from $35.00 to $47.00 and gave the company a “sector outperform” rating in a research report on Wednesday, December 11th. Needham & Company LLC restated a “buy” rating and issued a $36.00 price target on shares of NewAmsterdam Pharma in a research note on Thursday, December 5th. HC Wainwright restated a “buy” rating and set a $48.00 price target on shares of NewAmsterdam Pharma in a research note on Tuesday, January 14th. Finally, Royal Bank of Canada reissued an “outperform” rating and set 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, NewAmsterdam Pharma presently has an average rating of “Buy” and an average price target of $41.60.

NewAmsterdam Pharma Trading Up 7.9 %

The firm’s 50-day moving average price is $22.86 and its 200-day moving average price is $20.25.

NewAmsterdam Pharma (NASDAQ:NAMS) last announced its quarterly earnings results on Wednesday, February 26th. The company reported ($0.95) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.47). On average, sell-side analysts expect that NewAmsterdam Pharma will post -1.75 EPS for the current year.

Insider Transactions at NewAmsterdam Pharma

In other NewAmsterdam Pharma news, major shareholder Nap B.V. Forgrowth sold 166,011 shares of NewAmsterdam Pharma stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $25.39, for a total value of $4,215,019.29. Following the sale, the insider now owns 11,150,461 shares of the company’s stock, valued at $283,110,204.79. The trade was a 1.47 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last three months, insiders have sold 404,927 shares of company stock valued at $10,390,787. 19.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of NAMS. Frazier Life Sciences Management L.P. raised its stake in NewAmsterdam Pharma by 23.8% during the fourth quarter. Frazier Life Sciences Management L.P. now owns 15,916,418 shares of the company’s stock valued at $409,052,000 after purchasing an additional 3,061,224 shares in the last quarter. Bain Capital Life Sciences Investors LLC increased its holdings in shares of NewAmsterdam Pharma by 2.3% in 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 buying an additional 245,197 shares during the last quarter. RA Capital Management L.P. raised its position in shares of NewAmsterdam Pharma by 9.7% during the 4th quarter. RA Capital Management L.P. now owns 8,845,000 shares of the company’s stock valued at $227,316,000 after buying an additional 781,000 shares in the last quarter. Deerfield Management Company L.P. Series C raised its position 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 valued at $110,879,000 after buying an additional 3,412,590 shares in the last quarter. Finally, Jennison Associates LLC grew its position in NewAmsterdam Pharma by 291.9% in 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 in the last quarter. 89.89% of the stock is owned by hedge funds and other institutional investors.

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.