NewAmsterdam Pharma (NASDAQ:NAMS) Trading 8.9% Higher – Here’s What Happened

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. 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. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $40.00 price objective on shares of NewAmsterdam Pharma in a research note on Friday, January 24th. Scotiabank boosted their target price on shares of NewAmsterdam Pharma from $35.00 to $47.00 and gave the company a “sector outperform” rating in a report on Wednesday, December 11th. Finally, HC Wainwright reiterated a “buy” rating and set a $48.00 price target on shares of NewAmsterdam Pharma in a report on Tuesday, January 14th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $41.60.

NewAmsterdam Pharma Stock Performance

The firm has a 50 day simple moving average of $22.86 and a two-hundred day simple moving average of $20.25.

NewAmsterdam Pharma (NASDAQ:NAMS) last posted its quarterly earnings data on Wednesday, February 26th. The company reported ($0.95) EPS for the quarter, missing the consensus estimate of ($0.48) by ($0.47). On average, equities research analysts anticipate that NewAmsterdam Pharma will post -1.75 earnings per share for the current year.

Insiders Place Their Bets

In related news, major shareholder Nap B.V. Forgrowth sold 166,011 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $25.39, for a total transaction of $4,215,019.29. Following the completion of the transaction, the insider now owns 11,150,461 shares of the company’s stock, valued at approximately $283,110,204.79. The trade was a 1.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 404,927 shares of company stock worth $10,390,787 in the last quarter. 19.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Deerfield Management Company L.P. Series C grew its position in NewAmsterdam Pharma by 378.4% in the fourth 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. lifted its stake in shares of 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 valued at $409,052,000 after acquiring an additional 3,061,224 shares during the last quarter. Jennison Associates LLC grew its position in NewAmsterdam Pharma by 291.9% during 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 during the last quarter. Wellington Management Group LLP grew its holdings in shares of NewAmsterdam Pharma by 2,410.4% in the fourth quarter. Wellington Management Group LLP now owns 2,315,123 shares of the company’s stock worth $59,499,000 after purchasing an additional 2,222,900 shares during the last quarter. Finally, Capital International Investors purchased a new position in shares of NewAmsterdam Pharma in the fourth quarter worth $53,007,000. 89.89% of the stock is owned by 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.