NewAmsterdam Pharma (NASDAQ:NAMS) Sees Strong Trading Volume on Strong Earnings

Shares of NewAmsterdam Pharma Company N.V. (NASDAQ:NAMS) saw strong trading volume on Friday following a stronger than expected earnings report. 825,732 shares traded hands during trading, a decline of 3% from the previous session’s volume of 850,710 shares.The stock last traded at $39.5240 and had previously closed at $34.85.

The company reported ($0.40) earnings per share for the quarter. The company had revenue of $3.04 million for the quarter. NewAmsterdam Pharma had a negative net margin of 906.22% and a negative return on equity of 26.67%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Royal Bank Of Canada lifted their price objective on NewAmsterdam Pharma from $44.00 to $47.00 and gave the company an “outperform” rating in a report on Wednesday, January 21st. Cantor Fitzgerald reiterated an “overweight” rating on shares of NewAmsterdam Pharma in a research note on Thursday, February 19th. Guggenheim lifted their target price on shares of NewAmsterdam Pharma from $41.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, February 19th. Truist Financial assumed coverage on NewAmsterdam Pharma in a report on Wednesday, March 18th. They issued a “buy” rating and a $57.00 target price on the stock. Finally, Needham & Company LLC boosted their target price on NewAmsterdam Pharma from $46.00 to $48.00 and gave the stock a “buy” rating in a report on Wednesday, February 18th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, NewAmsterdam Pharma presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.00.

Insider Transactions at NewAmsterdam Pharma

In related news, CEO Michael H. Davidson sold 443,707 shares of the firm’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $33.25, for a total value of $14,753,257.75. Following the completion of the sale, the chief executive officer owned 174,144 shares of the company’s stock, valued at $5,790,288. This trade represents a 71.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Johannes Jacob Piete Kastelein sold 104,467 shares of the firm’s stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $30.30, for a total transaction of $3,165,350.10. Following the completion of the sale, the insider directly owned 69,302 shares of the company’s stock, valued at approximately $2,099,850.60. This represents a 60.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 1,168,286 shares of company stock valued at $38,211,967 in the last three months. 20.84% of the stock is owned by corporate insiders.

Institutional Trading of NewAmsterdam Pharma

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Wells Fargo & Company MN increased its holdings in shares of NewAmsterdam Pharma by 50.0% in the fourth quarter. Wells Fargo & Company MN now owns 900 shares of the company’s stock valued at $32,000 after purchasing an additional 300 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of NewAmsterdam Pharma by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 102,395 shares of the company’s stock valued at $3,590,000 after purchasing an additional 437 shares in the last quarter. Arizona State Retirement System increased its holdings in shares of NewAmsterdam Pharma by 3.8% in the third quarter. Arizona State Retirement System now owns 13,251 shares of the company’s stock valued at $377,000 after purchasing an additional 483 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of NewAmsterdam Pharma by 5.3% in the second quarter. The Manufacturers Life Insurance Company now owns 10,868 shares of the company’s stock valued at $197,000 after purchasing an additional 544 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its holdings in shares of NewAmsterdam Pharma by 4,425.0% in the fourth quarter. Farther Finance Advisors LLC now owns 724 shares of the company’s stock valued at $25,000 after purchasing an additional 708 shares in the last quarter. Institutional investors and hedge funds own 89.89% of the company’s stock.

NewAmsterdam Pharma Stock Up 14.4%

The firm has a market cap of $4.58 billion, a price-to-earnings ratio of -22.76 and a beta of 0.02. The business’s fifty day moving average is $31.77 and its two-hundred day moving average is $34.24.

NewAmsterdam Pharma Company Profile

NewAmsterdam Pharma, Inc is a clinical‐stage biopharmaceutical company focused on discovering and developing novel small‐molecule therapies for cardiometabolic diseases. The company’s research efforts are aimed at addressing key unmet needs in metabolic syndrome, obesity and type 2 diabetes by modulating pathways involved in glucose regulation, energy homeostasis and lipid metabolism.

The company’s development pipeline features multiple small‐molecule candidates at various stages of preclinical and clinical evaluation.