NewAmsterdam Pharma (NASDAQ:NAMS) Shares Gap Down on Insider Selling

NewAmsterdam Pharma (NASDAQ:NAMS) shares gapped down prior to trading on Tuesday after an insider sold shares in the company. The stock had previously closed at $16.60, but opened at $15.72. NewAmsterdam Pharma shares last traded at $16.45, with a volume of 58,998 shares traded.

Specifically, CAO Louise Frederika Kooij sold 45,000 shares of NewAmsterdam Pharma stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $15.72, for a total transaction of $707,400.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on NAMS. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $31.00 price target on shares of NewAmsterdam Pharma in a research report on Thursday, September 5th. Needham & Company LLC started coverage on NewAmsterdam Pharma in a report on Wednesday, August 28th. They issued a “buy” rating and a $36.00 price target for the company. Finally, Piper Sandler reissued an “overweight” rating and set a $37.00 price objective on shares of NewAmsterdam Pharma in a report on Monday, September 23rd. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat, NewAmsterdam Pharma currently has a consensus rating of “Buy” and a consensus target price of $33.80.

NewAmsterdam Pharma Trading Up 0.8 %

The firm’s 50 day simple moving average is $16.47 and its 200-day simple moving average is $18.91.

NewAmsterdam Pharma (NASDAQ:NAMS) last issued its earnings results on Wednesday, August 7th. The company reported ($0.51) earnings per share for the quarter, topping the consensus estimate of ($0.59) by $0.08. The company had revenue of $2.28 million for the quarter, compared to analyst estimates of $2.20 million. Sell-side analysts forecast that NewAmsterdam Pharma will post -2.06 earnings per share for the current year.

Hedge Funds Weigh In On NewAmsterdam Pharma

Institutional investors have recently bought and sold shares of the company. Millennium Management LLC grew its position in NewAmsterdam Pharma by 23.0% in the 2nd quarter. Millennium Management LLC now owns 1,165,429 shares of the company’s stock valued at $22,388,000 after acquiring an additional 217,902 shares in the last quarter. Jennison Associates LLC purchased a new position in shares of NewAmsterdam Pharma in the 1st quarter valued at about $22,015,000. Deerfield Management Company L.P. Series C boosted its stake in shares of NewAmsterdam Pharma by 30.3% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 869,250 shares of the company’s stock worth $16,698,000 after acquiring an additional 202,250 shares in the last quarter. Artal Group S.A. acquired a new stake in NewAmsterdam Pharma in the first quarter valued at $18,920,000. Finally, Janus Henderson Group PLC acquired a new stake in NewAmsterdam Pharma in the 1st quarter valued at about $15,018,000. 89.89% of the stock is owned by hedge funds and other 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.