NewAmsterdam Pharma (NASDAQ:NAMS) Sees Unusually-High Trading Volume

Shares of NewAmsterdam Pharma (NASDAQ:NAMS) saw unusually-high trading volume on Thursday . Approximately 250,683 shares were traded during trading, a decline of 3% from the previous session’s volume of 257,245 shares.The stock last traded at $16.42 and had previously closed at $16.31.

Wall Street Analyst Weigh In

NAMS has been the topic of several recent analyst reports. Royal Bank of Canada restated an “outperform” rating and issued a $31.00 target price on shares of NewAmsterdam Pharma in a report on Tuesday, July 30th. TD Cowen initiated coverage on NewAmsterdam Pharma in a research report on Wednesday, May 15th. They set a “buy” rating on the stock. Finally, Needham & Company LLC began coverage on NewAmsterdam Pharma in a research note on Wednesday. They set a “buy” rating and a $36.00 target price for the company. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $33.80.

NewAmsterdam Pharma Stock Performance

The business has a fifty day simple moving average of $18.15 and a 200 day simple moving average of $19.90.

NewAmsterdam Pharma (NASDAQ:NAMS) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.51) earnings per share (EPS) 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 the consensus estimate of $2.20 million. On average, sell-side analysts predict that NewAmsterdam Pharma will post -2.24 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Millennium Management LLC lifted its holdings in NewAmsterdam Pharma by 23.0% during the second quarter. Millennium Management LLC now owns 1,165,429 shares of the company’s stock valued at $22,388,000 after purchasing an additional 217,902 shares during the last quarter. Deerfield Management Company L.P. Series C lifted 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 valued at $16,698,000 after buying an additional 202,250 shares in the last quarter. Decheng Capital LLC bought a new position in NewAmsterdam Pharma in the 2nd quarter worth approximately $7,684,000. Affinity Asset Advisors LLC grew its stake in NewAmsterdam Pharma by 47.9% in the 2nd quarter. Affinity Asset Advisors LLC now owns 423,155 shares of the company’s stock valued at $8,129,000 after buying an additional 136,955 shares in the last quarter. Finally, Sei Investments Co. boosted its position in shares of NewAmsterdam Pharma by 49.1% during the 2nd quarter. Sei Investments Co. now owns 24,561 shares of the company’s stock valued at $472,000 after acquiring an additional 8,087 shares during the last quarter. Institutional investors own 89.89% of the company’s stock.

About NewAmsterdam Pharma

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.