NewAmsterdam Pharma (NASDAQ:NAMS) Sees Unusually-High Trading Volume – Here’s Why

NewAmsterdam Pharma (NASDAQ:NAMS) saw an uptick in trading volume on Tuesday . 1,918,939 shares were traded during mid-day trading, an increase of 254% from the previous session’s volume of 542,557 shares.The stock last traded at $18.36 and had previously closed at $20.47.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. UBS Group set a $41.00 price target on NewAmsterdam Pharma in a research note on Monday, March 3rd. Royal Bank of Canada reiterated an “outperform” rating and issued a $40.00 target price on shares of NewAmsterdam Pharma in a research note on Friday, January 24th. Scotiabank increased their price target on shares of NewAmsterdam Pharma from $47.00 to $52.00 and gave the stock a “sector outperform” rating in a research note on Thursday, February 27th. HC Wainwright restated a “buy” rating and set a $48.00 price target on shares of NewAmsterdam Pharma in a report on Tuesday, January 14th. Finally, Needham & Company LLC decreased their price objective on shares of NewAmsterdam Pharma from $46.00 to $42.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, NewAmsterdam Pharma presently has an average rating of “Buy” and an average target price of $43.33.

NewAmsterdam Pharma Stock Down 10.7 %

The stock’s 50-day moving average price is $21.60 and its 200 day moving average price is $21.30. The company has a market cap of $2.01 billion, a P/E ratio of -7.02 and a beta of -0.04.

NewAmsterdam Pharma (NASDAQ:NAMS) last announced its 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 for the quarter, compared to analysts’ expectations of $3.30 million. Analysts expect that NewAmsterdam Pharma will post -1.75 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CAO Louise Frederika Kooij sold 150,000 shares of the firm’s stock in a transaction on 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 sale, the chief accounting officer now owns 15,000 shares in the company, valued at approximately $305,550. This trade represents a 90.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director James N. Topper bought 4,005 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The shares were bought at an average cost of $21.02 per share, for a total transaction of $84,185.10. Following the transaction, the director now directly owns 3,012,434 shares of the company’s stock, valued at $63,321,362.68. This trade represents a 0.13 % increase in their position. The disclosure for this purchase can be found here. 19.50% of the stock is owned by insiders.

Institutional Trading of NewAmsterdam Pharma

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. GF Fund Management CO. LTD. acquired a new position in shares of NewAmsterdam Pharma during the fourth quarter valued at about $50,000. National Bank of Canada FI acquired a new position in NewAmsterdam Pharma in the 4th quarter valued at approximately $51,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of NewAmsterdam Pharma in the 4th quarter worth approximately $80,000. KLP Kapitalforvaltning AS acquired a new stake in shares of NewAmsterdam Pharma during the 4th quarter worth approximately $154,000. Finally, Quarry LP increased its position in shares of NewAmsterdam Pharma by 2,469.2% during the third quarter. Quarry LP now owns 6,500 shares of the company’s stock valued at $108,000 after purchasing an additional 6,247 shares during the period. 89.89% of the stock is currently owned by institutional investors and hedge funds.

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.