NewAmsterdam Pharma (NASDAQ:NAMS) Shares Gap Up to $16.77

NewAmsterdam Pharma (NASDAQ:NAMS)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $16.77, but opened at $17.15. NewAmsterdam Pharma shares last traded at $16.81, with a volume of 23,028 shares changing hands.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Royal Bank of Canada reissued an “outperform” rating and set a $31.00 price objective on shares of NewAmsterdam Pharma in a report on Tuesday, July 30th. TD Cowen started coverage on shares of NewAmsterdam Pharma in a report on Wednesday, May 15th. They issued a “buy” rating on the stock. Finally, Needham & Company LLC began coverage on shares of NewAmsterdam Pharma in a report on Wednesday. They set a “buy” rating and a $36.00 target price for the company. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $33.80.

NewAmsterdam Pharma Price Performance

The company’s 50 day simple moving average is $18.17 and its 200 day simple moving average is $19.93.

NewAmsterdam Pharma (NASDAQ:NAMS) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.51) EPS for the quarter, topping the consensus estimate of ($0.59) by $0.08. The business had revenue of $2.28 million for the quarter, compared to analyst estimates of $2.20 million. On average, equities research analysts forecast that NewAmsterdam Pharma will post -2.24 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Michael H. Davidson bought 5,000 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The stock was acquired at an average cost of $17.26 per share, for a total transaction of $86,300.00. Following the purchase, the chief executive officer now owns 204,784 shares of the company’s stock, valued at approximately $3,534,571.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 19.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Banque Cantonale Vaudoise acquired a new stake in NewAmsterdam Pharma during the second quarter worth approximately $38,000. Sei Investments Co. raised its position in NewAmsterdam Pharma by 49.1% during the 2nd quarter. Sei Investments Co. now owns 24,561 shares of the company’s stock worth $472,000 after purchasing an additional 8,087 shares during the last quarter. Wolverine Asset Management LLC increased its position in NewAmsterdam Pharma by 117.7% during the 2nd quarter. Wolverine Asset Management LLC now owns 15,524 shares of the company’s stock valued at $298,000 after purchasing an additional 8,394 shares during the period. Rosalind Advisors Inc. acquired a new position in shares of NewAmsterdam Pharma in the 2nd quarter worth approximately $194,000. Finally, Yarbrough Capital LLC bought a new stake in shares of NewAmsterdam Pharma in the 1st quarter valued at $567,000. Institutional investors and hedge funds 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.