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

Shares of NewAmsterdam Pharma (NASDAQ:NAMS) saw unusually-strong trading volume on Thursday following insider buying activity. Approximately 1,197,625 shares were traded 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 purchased 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, for a total transaction of $84,185.10. Following the completion of the transaction, the director now 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 transaction was disclosed in a document filed with the SEC, which is available through this link.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Royal Bank of Canada reissued an “outperform” rating and set a $40.00 target price on shares of NewAmsterdam Pharma in a report on Friday, January 24th. Needham & Company LLC reduced their target price on NewAmsterdam Pharma from $46.00 to $42.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Scotiabank increased their target price on NewAmsterdam Pharma from $47.00 to $52.00 and gave the company a “sector outperform” rating in a report on Thursday, February 27th. Finally, HC Wainwright reissued a “buy” rating and set a $48.00 target price on shares of NewAmsterdam Pharma in a report on Tuesday, January 14th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, NewAmsterdam Pharma currently has an average rating of “Buy” and an average price target of $43.80.

NewAmsterdam Pharma Price Performance

The stock has a market cap of $2.20 billion, a price-to-earnings ratio of -9.15 and a beta of -0.04. The firm has a fifty day moving average of $22.24 and a 200 day moving average of $20.43.

NewAmsterdam Pharma (NASDAQ:NAMS) last posted 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 analysts’ expectations of $3.30 million. Research analysts anticipate that NewAmsterdam Pharma will post -1.75 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NewAmsterdam Pharma

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GF Fund Management CO. LTD. acquired a new stake in NewAmsterdam Pharma during the fourth quarter worth $50,000. National Bank of Canada FI acquired a new stake in NewAmsterdam Pharma during the fourth quarter worth $51,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in NewAmsterdam Pharma during the fourth quarter worth $80,000. KLP Kapitalforvaltning AS acquired a new stake in NewAmsterdam Pharma during the fourth quarter worth $154,000. Finally, Quarry LP increased its stake in NewAmsterdam Pharma by 2,469.2% during the third quarter. Quarry LP now owns 6,500 shares of the company’s stock worth $108,000 after acquiring an additional 6,247 shares during the last quarter. Institutional investors and hedge funds 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.