NewAmsterdam Pharma (NASDAQ:NAMS) Shares Gap Down – Here’s What Happened

NewAmsterdam Pharma Company N.V. (NASDAQ:NAMS)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $25.40, but opened at $24.02. NewAmsterdam Pharma shares last traded at $25.3180, with a volume of 638,772 shares trading hands.

NewAmsterdam Pharma News Roundup

Here are the key news stories impacting NewAmsterdam Pharma this week:

• Positive Sentiment: HC Wainwright reaffirmed its Buy rating on NewAmsterdam Pharma and maintained a $52 price target, implying substantial upside from recent trading levels. The bullish view supports the long-term investment case, although it has not prevented near-term selling pressure. Benzinga analyst rating report
• Neutral Sentiment: Recent analyst coverage discussed NewAmsterdam Pharma alongside other healthcare companies, including Dyne Therapeutics, Ionis Pharmaceuticals and Amgen. The reports may influence sector positioning, but the available headlines do not identify a new company-specific development for NAMS. Analyst insights on healthcare companies Analyst insights on Amgen and NewAmsterdam Pharma
• Negative Sentiment: Director John W. Smither sold 1,600 NAMS shares for approximately $40,512, reducing his position by 15.44%. While insider sales can be made for personal or financial reasons, the transaction may add to investor caution when the stock is already under pressure. SEC insider transaction filing
• Negative Sentiment: A sharp trial-related selloff in Novartis and resulting weakness in other biotechnology stocks has likely hurt sentiment toward the broader drug-development sector. The read-through is indirect for NAMS, but it may encourage investors to reduce risk across biotech holdings. Novartis trial-failure market impact

Analysts Set New Price Targets

A number of brokerages have weighed in on NAMS. HC Wainwright reaffirmed a “buy” rating and set a $52.00 target price on shares of NewAmsterdam Pharma in a research report on Tuesday. Weiss Ratings reissued a “sell (d-)” rating on shares of NewAmsterdam Pharma in a research report on Friday, July 17th. Royal Bank Of Canada cut their price target on NewAmsterdam Pharma from $51.00 to $50.00 and set an “outperform” rating on the stock in a research note on Thursday, August 6th. Jefferies Financial Group restated a “buy” rating and issued a $45.00 price objective on shares of NewAmsterdam Pharma in a report on Monday, July 20th. Finally, BMO Capital Markets started coverage on shares of NewAmsterdam Pharma in a research note on Monday, July 20th. They issued 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 issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $49.73.

NewAmsterdam Pharma Stock Performance

The company has a 50 day moving average of $29.10 and a two-hundred day moving average of $31.37. The stock has a market capitalization of $2.72 billion, a PE ratio of -10.55 and a beta of 0.09.

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

Insider Activity at NewAmsterdam Pharma

In other news, insider Johannes Kastelein sold 125,000 shares of the firm’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $26.91, for a total transaction of $3,363,750.00. Following the sale, the insider directly owned 69,302 shares in the company, valued at $1,864,916.82. This trade represents a 64.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Louise Kooij sold 105,000 shares of the firm’s stock in a transaction that occurred on Monday, July 20th. The shares were sold at an average price of $30.34, for a total value of $3,185,700.00. Following the completion of the sale, the chief accounting officer directly owned 24,353 shares in the company, valued at approximately $738,870.02. The trade was a 81.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 271,600 shares of company stock worth $7,797,962. 12.74% of the stock is owned by company insiders.

Institutional Investors Weigh In On NewAmsterdam Pharma

A number of hedge funds have recently modified their holdings of the business. Wells Fargo & Company MN increased its position in NewAmsterdam Pharma by 50.0% during the fourth quarter. Wells Fargo & Company MN now owns 900 shares of the company’s stock worth $32,000 after purchasing an additional 300 shares during the last quarter. KBC Group NV acquired a new position in NewAmsterdam Pharma in the 1st quarter valued at about $37,000. Navalign LLC purchased a new stake in shares of NewAmsterdam Pharma in the 4th quarter valued at approximately $46,000. Empowered Funds LLC purchased a new stake in shares of NewAmsterdam Pharma in the 4th quarter valued at approximately $85,000. Finally, AdvisorNet Financial Inc acquired a new stake in shares of NewAmsterdam Pharma during the 1st quarter worth approximately $82,000. 89.89% of the stock is currently owned by institutional investors and hedge funds.

About NewAmsterdam Pharma

NewAmsterdam Pharma, Inc is a clinical‐stage biopharmaceutical company focused on discovering and developing novel small‐molecule therapies for cardiometabolic diseases. The company’s research efforts are aimed at addressing key unmet needs in metabolic syndrome, obesity and type 2 diabetes by modulating pathways involved in glucose regulation, energy homeostasis and lipid metabolism.

The company’s development pipeline features multiple small‐molecule candidates at various stages of preclinical and clinical evaluation.