NewAmsterdam Pharma (NASDAQ:NAMS) Sees Significant Increase in Short Interest

NewAmsterdam Pharma (NASDAQ:NAMS) was the recipient of a large increase in short interest during the month of March. As of March 31st, there was short interest totalling 5,340,000 shares, an increase of 23.0% from the March 15th total of 4,340,000 shares. Currently, 9.4% of the shares of the company are short sold. Based on an average trading volume of 996,300 shares, the short-interest ratio is currently 5.4 days.

Insiders Place Their Bets

In other news, CAO Louise Frederika Kooij sold 150,000 shares of the stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 15,000 shares of the company’s stock, valued at approximately $305,550. This represents a 90.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James N. Topper bought 1,135 shares of the company’s stock in a transaction that occurred on Wednesday, March 26th. The shares were bought at an average cost of $22.49 per share, for a total transaction of $25,526.15. Following the transaction, the director now directly owns 3,013,569 shares of the company’s stock, 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. Company insiders own 19.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. raised its stake in shares of NewAmsterdam Pharma by 176.9% in the third quarter. JPMorgan Chase & Co. now owns 22,351 shares of the company’s stock worth $371,000 after acquiring an additional 14,280 shares during the last quarter. State Street Corp lifted its holdings in NewAmsterdam Pharma by 168.7% during the 3rd quarter. State Street Corp now owns 37,915 shares of the company’s stock worth $629,000 after buying an additional 23,805 shares in the last quarter. American Century Companies Inc. bought a new position in NewAmsterdam Pharma in the 4th quarter valued at $8,907,000. Geode Capital Management LLC increased its stake in shares of NewAmsterdam Pharma by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 86,322 shares of the company’s stock valued at $1,433,000 after buying an additional 1,399 shares during the period. Finally, Swiss National Bank raised its position in shares of NewAmsterdam Pharma by 105.1% during the fourth quarter. Swiss National Bank now owns 72,000 shares of the company’s stock worth $1,850,000 after acquiring an additional 36,900 shares during the last quarter. Institutional investors and hedge funds own 89.89% of the company’s stock.

Analyst Ratings Changes

NAMS has been the subject of several research reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $40.00 target price on shares of NewAmsterdam Pharma in a research note on Friday, January 24th. Needham & Company LLC restated a “buy” rating and issued a $42.00 target price on shares of NewAmsterdam Pharma in a research note on Tuesday, April 8th. HC Wainwright reiterated a “buy” rating and set a $48.00 price target on shares of NewAmsterdam Pharma in a research note on Tuesday, January 14th. Scotiabank increased 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 note on Thursday, February 27th. Finally, UBS Group set a $41.00 target price on shares of NewAmsterdam Pharma in a research report on Monday, March 3rd. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $43.33.

NewAmsterdam Pharma Price Performance

Shares of NAMS traded down $0.08 during trading hours on Monday, hitting $16.26. The stock had a trading volume of 302,175 shares, compared to its average volume of 587,762. NewAmsterdam Pharma has a 52 week low of $14.06 and a 52 week high of $27.29. The stock has a market capitalization of $1.79 billion, a price-to-earnings ratio of -6.25 and a beta of -0.01. The company’s fifty day moving average is $19.87 and its two-hundred day moving average is $21.27.

NewAmsterdam Pharma (NASDAQ:NAMS) last posted its quarterly earnings data 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 firm had revenue of $12.77 million for the quarter, compared to the consensus estimate of $3.30 million. Equities analysts predict that NewAmsterdam Pharma will post -1.75 EPS for the current fiscal year.

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.