NewAmsterdam Pharma (NASDAQ:NAMS) Short Interest Update

NewAmsterdam Pharma (NASDAQ:NAMS) was the target of a large drop in short interest in the month of September. As of September 15th, there was short interest totalling 422,500 shares, a drop of 77.4% from the August 31st total of 1,870,000 shares. Based on an average daily volume of 343,700 shares, the days-to-cover ratio is presently 1.2 days. Currently, 1.0% of the company’s stock are short sold.

NewAmsterdam Pharma Stock Down 2.0 %

Shares of NAMS traded down $0.31 during trading hours on Wednesday, reaching $15.24. 112,379 shares of the stock traded hands, compared to its average volume of 254,373. NewAmsterdam Pharma has a 52 week low of $5.63 and a 52 week high of $26.35. The stock has a fifty day simple moving average of $16.70 and a 200 day simple moving average of $19.10.

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

Analyst Upgrades and Downgrades

NAMS has been the subject of several recent research reports. Piper Sandler reissued an “overweight” rating and set a $37.00 target price on shares of NewAmsterdam Pharma in a research report on Monday. Royal Bank of Canada reiterated an “outperform” rating and set a $31.00 price target on shares of NewAmsterdam Pharma in a research note on Thursday, September 5th. Finally, Needham & Company LLC started coverage on NewAmsterdam Pharma in a research note on Wednesday, August 28th. They issued a “buy” rating and a $36.00 price objective for the company. Seven analysts have rated the stock with a buy rating, According to MarketBeat.com, NewAmsterdam Pharma currently has an average rating of “Buy” and a consensus target price of $33.80.

Institutional Inflows and Outflows

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

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.