NewAmsterdam Pharma (NASDAQ:NAMS) Hits New 12-Month Low After Analyst Downgrade

NewAmsterdam Pharma Company N.V. (NASDAQ:NAMS) reached a new 52-week low during trading on Thursday after Needham & Company LLC lowered their price target on the stock from $48.00 to $46.00. Needham & Company LLC currently has a buy rating on the stock. NewAmsterdam Pharma traded as low as $19.00 and last traded at $19.8040, with a volume of 221,006 shares. The stock had previously closed at $20.93.

A number of other equities analysts also recently weighed in on the stock. BMO Capital Markets initiated coverage on shares of NewAmsterdam Pharma in a report on Monday, July 20th. They issued an “outperform” rating and a $58.00 price target on the stock. Wall Street Zen upgraded shares of NewAmsterdam Pharma from a “sell” rating to a “hold” rating in a report on Sunday, November 1st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NewAmsterdam Pharma in a research report on Thursday, October 15th. Royal Bank Of Canada lowered their price objective on shares of NewAmsterdam Pharma from $50.00 to $42.00 and set an “outperform” rating on the stock in a research report on Monday, October 5th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $45.00 target price on shares of NewAmsterdam Pharma in a research note on Monday, July 20th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, NewAmsterdam Pharma currently has a consensus rating of “Moderate Buy” and a consensus target price of $48.70.

Insider Buying and Selling at NewAmsterdam Pharma

In other news, Director John W. Smither sold 1,600 shares of the company’s stock in a transaction on Friday, September 4th. The stock was sold at an average price of $25.32, for a total transaction of $40,512.00. Following the transaction, the director owned 8,760 shares of the company’s stock, valued at $221,803.20. This represents a 15.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael Davidson purchased 10,000 shares of the company’s stock in a transaction dated Monday, September 14th. The shares were purchased at an average cost of $22.65 per share, for a total transaction of $226,500.00. Following the transaction, the chief executive officer directly owned 792,923 shares in the company, valued at approximately $17,959,705.95. The trade was a 1.28% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold a total of 176,846 shares of company stock worth $4,661,919 over the last ninety days. 12.74% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On NewAmsterdam Pharma

Several institutional investors have recently added to or reduced their stakes in the business. Parallel Advisors LLC increased its stake in shares of NewAmsterdam Pharma by 43.7% in the third quarter. Parallel Advisors LLC now owns 2,012 shares of the company’s stock worth $49,000 after purchasing an additional 612 shares in the last quarter. AlphaCentric Advisors LLC lifted its stake in shares of NewAmsterdam Pharma by 4.6% during the 3rd quarter. AlphaCentric Advisors LLC now owns 15,549 shares of the company’s stock valued at $378,000 after buying an additional 681 shares in the last quarter. KBC Group NV purchased a new stake in shares of NewAmsterdam Pharma during the 1st quarter valued at approximately $37,000. Kornitzer Capital Management Inc. KS lifted its stake in shares of NewAmsterdam Pharma by 1.3% during the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 141,711 shares of the company’s stock valued at $3,446,000 after buying an additional 1,778 shares in the last quarter. Finally, Arizona State Retirement System boosted its holdings in NewAmsterdam Pharma by 34.6% in the 2nd quarter. Arizona State Retirement System now owns 16,656 shares of the company’s stock worth $564,000 after buying an additional 4,281 shares during the period. 89.89% of the stock is owned by hedge funds and other institutional investors.

NewAmsterdam Pharma Trading Up 0.1%

The company has a market capitalization of $2.26 billion, a P/E ratio of -11.18 and a beta of 0.15. The company’s fifty day moving average is $22.10 and its 200 day moving average is $29.52.

NewAmsterdam Pharma (NASDAQ:NAMS) last issued its earnings results on Wednesday, November 4th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.47) by $0.33. The business had revenue of $19.16 million for the quarter, compared to analysts’ expectations of $8.82 million. NewAmsterdam Pharma had a negative net margin of 3,644.21% and a negative return on equity of 34.81%. Equities research analysts predict that NewAmsterdam Pharma Company N.V. will post -1.69 EPS for the current year.

About NewAmsterdam Pharma

NewAmsterdam Pharma (NASDAQ: NAMS) is a clinical-stage biopharmaceutical company focused on developing therapies for cardiometabolic diseases. The company’s primary investigational product is obicetrapib, an oral, low-dose cholesteryl ester transfer protein (CETP) inhibitor designed to reduce low-density lipoprotein cholesterol and potentially address residual cardiovascular risk in patients who remain inadequately controlled on existing treatments.

NewAmsterdam is evaluating obicetrapib in late-stage clinical studies involving patients with dyslipidemia, including individuals with heterozygous familial hypercholesterolemia and patients who are unable to reach cholesterol goals with currently available therapies.