NewAmsterdam Pharma (NASDAQ:NAMS) Stock Jumps 5.8% – Should You Buy?

NewAmsterdam Pharma Company N.V. (NASDAQ:NAMS)’s stock price traded up 5.8% during trading on Monday. The company traded as high as $23.74 and last traded at $23.8850. 708,318 shares traded hands during mid-day trading, a decline of 37% from the average session volume of 1,118,843 shares. The stock had previously closed at $22.58.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on NAMS shares. HC Wainwright restated a “buy” rating and issued a $52.00 price objective on shares of NewAmsterdam Pharma in a report on Tuesday, September 8th. Jefferies Financial Group restated a “buy” rating and issued a $45.00 price target on shares of NewAmsterdam Pharma in a research note on Monday, July 20th. Royal Bank Of Canada lowered their price target on NewAmsterdam Pharma from $51.00 to $50.00 and set an “outperform” rating for the company in a report on Thursday, August 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of NewAmsterdam Pharma in a research note on Friday, July 17th. Finally, BMO Capital Markets began coverage on shares of NewAmsterdam Pharma in a research report on Monday, July 20th. They set an “outperform” rating and a $58.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, NewAmsterdam Pharma currently has an average rating of “Moderate Buy” and an average price target of $49.73.

NewAmsterdam Pharma Price Performance

The business’s 50-day moving average price is $26.25 and its 200-day moving average price is $30.46. The firm has a market capitalization of $2.83 billion, a PE ratio of -11.03 and a beta of 0.09.

NewAmsterdam Pharma (NASDAQ:NAMS) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($0.52) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.04). NewAmsterdam Pharma had a negative return on equity of 34.81% and a negative net margin of 3,644.21%.The business had revenue of $3.70 million for the quarter, compared to analyst estimates of $2.83 million. Equities analysts forecast that NewAmsterdam Pharma Company N.V. will post -1.82 earnings per share for the current year.

Insider Buying and Selling at NewAmsterdam Pharma

In other NewAmsterdam Pharma news, CAO Louise Kooij sold 105,000 shares of NewAmsterdam Pharma stock in a transaction that occurred on Monday, July 20th. The stock was sold at an average price of $30.34, for a total value of $3,185,700.00. Following the transaction, the chief accounting officer directly owned 24,353 shares in the company, valued at approximately $738,870.02. This trade represents a 81.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Johannes Kastelein sold 125,000 shares of the stock in a transaction on Monday, August 24th. The stock was sold at an average price of $26.91, for a total value of $3,363,750.00. Following the sale, the insider directly owned 69,302 shares of the company’s stock, valued at approximately $1,864,916.82. This represents a 64.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 231,600 shares of company stock valued at $6,589,962 over the last ninety days. 12.74% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Bank of America Corp DE boosted its holdings in NewAmsterdam Pharma by 84.4% in the 1st quarter. Bank of America Corp DE now owns 847,089 shares of the company’s stock valued at $27,115,000 after purchasing an additional 387,698 shares in the last quarter. Frazier Life Sciences Management L.P. raised its stake in shares of NewAmsterdam Pharma by 6.8% during the 2nd quarter. Frazier Life Sciences Management L.P. now owns 18,088,902 shares of the company’s stock worth $613,033,000 after buying an additional 1,145,128 shares in the last quarter. Artia Global Partners LP raised its stake in shares of NewAmsterdam Pharma by 158.6% during the 4th quarter. Artia Global Partners LP now owns 503,936 shares of the company’s stock worth $17,678,000 after buying an additional 309,098 shares in the last quarter. Capital World Investors lifted its holdings in shares of NewAmsterdam Pharma by 1.6% in the 4th quarter. Capital World Investors now owns 9,984,000 shares of the company’s stock valued at $350,239,000 after buying an additional 161,289 shares during the period. Finally, Nicholas Investment Partners LP boosted its stake in shares of NewAmsterdam Pharma by 20.2% in the fourth quarter. Nicholas Investment Partners LP now owns 213,419 shares of the company’s stock valued at $7,487,000 after buying an additional 35,881 shares in the last quarter. 89.89% of the stock is currently owned by institutional investors and hedge funds.

About NewAmsterdam Pharma

NewAmsterdam Pharma Company N.V. is a clinical-stage biopharmaceutical company focused on developing therapies for cardiometabolic diseases, particularly conditions involving elevated cholesterol and residual cardiovascular risk. The company’s lead product candidate is obicetrapib, an oral, low-dose cholesteryl ester transfer protein (CETP) inhibitor designed to reduce low-density lipoprotein cholesterol and improve other lipid parameters.

Obicetrapib has been evaluated in several clinical studies, including the Phase 3 BROADWAY trial, for patients whose cholesterol levels remain inadequately controlled despite the use of existing lipid-lowering treatments.