NewAmsterdam Pharma (NASDAQ:NAMS) Stock Price Down 8.5% – Time to Sell?

NewAmsterdam Pharma (NASDAQ:NAMS) shares dropped 8.5% on Monday . The company traded as low as $19.78 and last traded at $19.91. Approximately 826,478 shares changed hands during mid-day trading, an increase of 55% from the average daily volume of 533,847 shares. The stock had previously closed at $21.76.

Wall Street Analyst Weigh In

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

NewAmsterdam Pharma Stock Down 0.9 %

The stock’s fifty day simple moving average is $21.50 and its two-hundred day simple moving average is $21.32. The firm has a market cap of $2.00 billion, a PE ratio of -7.00 and a beta of -0.04.

NewAmsterdam Pharma (NASDAQ:NAMS) last posted its quarterly earnings results on Wednesday, February 26th. The company reported ($0.95) earnings per share 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 the consensus estimate of $3.30 million. On average, equities research analysts anticipate that NewAmsterdam Pharma will post -1.75 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director James N. Topper acquired 4,005 shares of the stock in a transaction that occurred 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 directly owns 3,012,434 shares in the company, valued at approximately $63,321,362.68. This trade represents a 0.13 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Louise Frederika Kooij sold 150,000 shares of NewAmsterdam Pharma stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $20.37, for a total transaction of $3,055,500.00. Following the completion of the sale, the chief accounting officer now directly owns 15,000 shares of the company’s stock, valued at approximately $305,550. This trade represents a 90.91 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 19.50% of the company’s stock.

Institutional Trading of NewAmsterdam Pharma

A number of hedge funds have recently bought and sold shares of NAMS. GF Fund Management CO. LTD. bought a new stake in shares of NewAmsterdam Pharma during the 4th quarter valued at about $50,000. National Bank of Canada FI purchased a new position in shares of NewAmsterdam Pharma in the fourth quarter worth approximately $51,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in NewAmsterdam Pharma during the fourth quarter valued at approximately $80,000. Quarry LP increased its holdings in 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 buying an additional 6,247 shares during the last quarter. Finally, Barclays PLC raised its position in NewAmsterdam Pharma by 1,813.4% in the third quarter. Barclays PLC now owns 7,596 shares of the company’s stock worth $126,000 after acquiring an additional 7,199 shares during the period. Hedge funds and other 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.