NewAmsterdam Pharma (NASDAQ:NAMS) Sees Strong Trading Volume After Insider Buying Activity

NewAmsterdam Pharma (NASDAQ:NAMS) saw an uptick in trading volume on Thursday following insider buying activity. 1,197,625 shares changed hands during trading, an increase of 162% from the previous session’s volume of 457,044 shares.The stock last traded at $23.28 and had previously closed at $23.02.

Specifically, Director James N. Topper bought 4,005 shares of the stock in a transaction on Tuesday, March 4th. The shares were bought at an average price of $21.02 per share, with a total value of $84,185.10. Following the purchase, the director now directly owns 3,012,434 shares in the company, valued at $63,321,362.68. The trade was a 0.13 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Wall Street Analyst Weigh In

Several research firms have weighed in on NAMS. Scotiabank lifted their target price on NewAmsterdam Pharma from $47.00 to $52.00 and gave the company a “sector outperform” rating in a research note on Thursday, February 27th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $40.00 target price on shares of NewAmsterdam Pharma in a research note on Friday, January 24th. Needham & Company LLC lowered their target price on NewAmsterdam Pharma from $46.00 to $42.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $48.00 target price on shares of NewAmsterdam Pharma in a research note on Tuesday, January 14th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $43.80.

NewAmsterdam Pharma Stock Performance

The firm has a market cap of $2.20 billion, a P/E ratio of -9.15 and a beta of -0.04. The company has a 50 day moving average of $22.24 and a 200 day moving average of $20.43.

NewAmsterdam Pharma (NASDAQ:NAMS) last announced its quarterly earnings results on Wednesday, February 26th. The company reported ($0.95) EPS for the quarter, missing the consensus estimate of ($0.48) by ($0.47). The company had revenue of $12.77 million during the quarter, compared to analyst estimates of $3.30 million. As a group, analysts expect that NewAmsterdam Pharma will post -1.75 EPS for the current fiscal year.

Institutional Investors Weigh In On NewAmsterdam Pharma

Several large investors have recently made changes to their positions in the company. GF Fund Management CO. LTD. acquired a new stake in NewAmsterdam Pharma in the 4th quarter worth approximately $50,000. National Bank of Canada FI acquired a new stake in NewAmsterdam Pharma in the 4th quarter worth approximately $51,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in NewAmsterdam Pharma in the 4th quarter worth approximately $80,000. Quarry LP lifted its holdings in NewAmsterdam Pharma by 2,469.2% in the 3rd quarter. Quarry LP now owns 6,500 shares of the company’s stock worth $108,000 after purchasing an additional 6,247 shares during the last quarter. Finally, Barclays PLC lifted its holdings in NewAmsterdam Pharma by 1,813.4% in the 3rd quarter. Barclays PLC now owns 7,596 shares of the company’s stock worth $126,000 after purchasing an additional 7,199 shares during the last quarter. 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.