NewAmsterdam Pharma (NASDAQ:NAMS) Short Interest Up 42.8% in March

NewAmsterdam Pharma (NASDAQ:NAMS) was the target of a large growth in short interest in March. As of March 15th, there was short interest totalling 4,340,000 shares, a growth of 42.8% from the February 28th total of 3,040,000 shares. Based on an average daily trading volume, of 843,800 shares, the short-interest ratio is presently 5.1 days. Currently, 7.5% of the company’s stock are sold short.

NewAmsterdam Pharma Price Performance

Shares of NASDAQ:NAMS traded down $1.29 during trading hours on Monday, hitting $20.47. The company’s stock had a trading volume of 1,518,450 shares, compared to its average volume of 536,489. The company has a market capitalization of $2.25 billion, a price-to-earnings ratio of -7.87 and a beta of -0.04. NewAmsterdam Pharma has a 52 week low of $15.19 and a 52 week high of $27.29. The firm’s fifty day moving average price is $21.66 and its 200 day moving average price is $21.27.

NewAmsterdam Pharma (NASDAQ:NAMS) last released its 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 business had revenue of $12.77 million for the quarter, compared to the consensus estimate of $3.30 million. On average, equities research analysts predict that NewAmsterdam Pharma will post -1.75 earnings per share for the current fiscal year.

Insider Activity at NewAmsterdam Pharma

In other NewAmsterdam Pharma news, CAO Louise Frederika Kooij sold 150,000 shares of the company’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $20.37, for a total value of $3,055,500.00. Following the completion of the transaction, the chief accounting officer now owns 15,000 shares in the company, valued at $305,550. This represents a 90.91 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James N. Topper purchased 1,135 shares of the business’s stock in a transaction dated Wednesday, March 26th. The shares were purchased at an average price of $22.49 per share, with a total value of $25,526.15. Following the purchase, the director now directly owns 3,013,569 shares in the company, valued at $67,775,166.81. This trade represents a 0.04 % increase in their position. The disclosure for this purchase can be found here. 19.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On NewAmsterdam Pharma

Institutional investors have recently bought and sold shares of the company. GF Fund Management CO. LTD. acquired a new position in shares of NewAmsterdam Pharma during the 4th quarter valued at about $50,000. National Bank of Canada FI acquired a new stake in shares of NewAmsterdam Pharma in the fourth quarter valued at $51,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of NewAmsterdam Pharma in the 4th quarter valued at about $80,000. KLP Kapitalforvaltning AS acquired a new position in NewAmsterdam Pharma during the 4th quarter worth approximately $154,000. Finally, Quarry LP lifted its holdings in NewAmsterdam Pharma by 2,469.2% during the 3rd quarter. Quarry LP now owns 6,500 shares of the company’s stock worth $108,000 after buying an additional 6,247 shares during the last quarter. 89.89% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

NewAmsterdam Pharma Company Profile

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.