NewAmsterdam Pharma (NASDAQ:NAMS) Short Interest Up 23.0% in March

NewAmsterdam Pharma (NASDAQ:NAMS) was the recipient of a large increase in short interest in March. As of March 31st, there was short interest totalling 5,340,000 shares, an increase of 23.0% from the March 15th total of 4,340,000 shares. Approximately 9.4% of the shares of the stock are short sold. Based on an average daily volume of 996,300 shares, the days-to-cover ratio is currently 5.4 days.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on NAMS shares. HC Wainwright restated 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 reaffirmed a “buy” rating and set a $42.00 target price on shares of NewAmsterdam Pharma in a research report on Tuesday, April 8th. Royal Bank of Canada reissued an “outperform” rating and issued a $40.00 price target on shares of NewAmsterdam Pharma in a research note on Friday, January 24th. UBS Group set a $41.00 target price on shares of NewAmsterdam Pharma in a report on Monday, March 3rd. Finally, Scotiabank boosted their price target on shares of NewAmsterdam Pharma from $47.00 to $52.00 and gave the company a “sector outperform” rating in a report on Thursday, February 27th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $43.33.

NewAmsterdam Pharma Trading Down 0.5 %

NAMS stock traded down $0.08 during midday trading on Monday, reaching $16.26. The company had a trading volume of 302,175 shares, compared to its average volume of 587,762. The company has a 50 day moving average of $19.87 and a two-hundred day moving average of $21.27. The company has a market capitalization of $1.79 billion, a P/E ratio of -6.25 and a beta of -0.01. NewAmsterdam Pharma has a 1 year low of $14.06 and a 1 year high of $27.29.

NewAmsterdam Pharma (NASDAQ:NAMS) last released its quarterly earnings data 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). The company had revenue of $12.77 million during the quarter, compared to analysts’ expectations of $3.30 million. On average, sell-side analysts anticipate that NewAmsterdam Pharma will post -1.75 earnings per share for the current year.

Insider Buying and Selling at NewAmsterdam Pharma

In other NewAmsterdam Pharma news, CAO Louise Frederika Kooij sold 150,000 shares of the company’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $20.37, for a total value of $3,055,500.00. Following the completion of the sale, the chief accounting officer now directly owns 15,000 shares of the company’s stock, valued at approximately $305,550. This represents a 90.91 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James N. Topper acquired 4,005 shares of NewAmsterdam Pharma stock in a transaction dated Tuesday, March 4th. The shares were acquired at an average price of $21.02 per share, with a total value of $84,185.10. Following the transaction, the director now owns 3,012,434 shares in the company, 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. 19.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On NewAmsterdam Pharma

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Handelsbanken Fonder AB increased its stake in shares of NewAmsterdam Pharma by 38.7% during the 1st quarter. Handelsbanken Fonder AB now owns 260,000 shares of the company’s stock worth $5,322,000 after purchasing an additional 72,596 shares during the last quarter. Avanza Fonder AB acquired a new stake in shares of NewAmsterdam Pharma in the first quarter worth about $127,000. Wellington Management Group LLP boosted its stake in shares of NewAmsterdam Pharma by 2,410.4% during 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. California State Teachers Retirement System increased its holdings in shares of NewAmsterdam Pharma by 23.5% during the 4th quarter. California State Teachers Retirement System now owns 19,404 shares of the company’s stock valued at $499,000 after acquiring an additional 3,694 shares during the last quarter. Finally, GF Fund Management CO. LTD. bought a new position in shares of NewAmsterdam Pharma in the 4th quarter valued at approximately $50,000. Institutional investors own 89.89% of the company’s stock.

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.