NewAmsterdam Pharma (NASDAQ:NAMS) Shares Gap Down to $16.60

NewAmsterdam Pharma (NASDAQ:NAMS)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $16.60, but opened at $15.72. NewAmsterdam Pharma shares last traded at $16.45, with a volume of 58,998 shares changing hands.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on NAMS shares. Piper Sandler reiterated an “overweight” rating and set a $37.00 price target on shares of NewAmsterdam Pharma in a research note on Monday, September 23rd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $31.00 target price on shares of NewAmsterdam Pharma in a research note on Thursday, September 5th. Finally, Needham & Company LLC initiated coverage on shares of NewAmsterdam Pharma in a research report on Wednesday, August 28th. They issued a “buy” rating and a $36.00 price target for the company. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $33.80.

NewAmsterdam Pharma Stock Performance

The stock has a 50-day moving average price of $16.54 and a 200 day moving average price of $18.96.

NewAmsterdam Pharma (NASDAQ:NAMS) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.51) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.59) by $0.08. The firm had revenue of $2.28 million during the quarter, compared to analysts’ expectations of $2.20 million. Research analysts predict that NewAmsterdam Pharma will post -2.06 EPS for the current year.

Institutional Investors Weigh In On NewAmsterdam Pharma

Several institutional investors have recently modified their holdings of NAMS. Millennium Management LLC raised its stake in NewAmsterdam Pharma by 23.0% in the second quarter. Millennium Management LLC now owns 1,165,429 shares of the company’s stock valued at $22,388,000 after buying an additional 217,902 shares in the last quarter. Deerfield Management Company L.P. Series C increased its holdings in NewAmsterdam Pharma by 30.3% in the second quarter. Deerfield Management Company L.P. Series C now owns 869,250 shares of the company’s stock valued at $16,698,000 after buying an additional 202,250 shares in the last quarter. Decheng Capital LLC acquired a new stake in NewAmsterdam Pharma in the second quarter valued at $7,684,000. Affinity Asset Advisors LLC lifted its stake in NewAmsterdam Pharma by 47.9% in the 2nd quarter. Affinity Asset Advisors LLC now owns 423,155 shares of the company’s stock valued at $8,129,000 after buying an additional 136,955 shares in the last quarter. Finally, Sei Investments Co. grew its holdings in shares of NewAmsterdam Pharma by 49.1% during the second quarter. Sei Investments Co. now owns 24,561 shares of the company’s stock worth $472,000 after buying an additional 8,087 shares in the last quarter. 89.89% of the stock is owned by hedge funds and other institutional investors.

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.