NewAmsterdam Pharma (NASDAQ:NAMS) Shares Sold by Adage Capital Partners GP L.L.C.

Adage Capital Partners GP L.L.C. cut its stake in NewAmsterdam Pharma (NASDAQ:NAMS - Free Report) by 23.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,050,000 shares of the company's stock after selling 330,000 shares during the period. Adage Capital Partners GP L.L.C. owned approximately 1.14% of NewAmsterdam Pharma worth $26,985,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. National Bank of Canada FI acquired a new stake in shares of NewAmsterdam Pharma in the 4th quarter worth approximately $51,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in NewAmsterdam Pharma in the fourth quarter valued at $80,000. Barclays PLC increased its position in shares of NewAmsterdam Pharma by 1,813.4% in the third quarter. Barclays PLC now owns 7,596 shares of the company's stock valued at $126,000 after buying an additional 7,199 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of NewAmsterdam Pharma during the 4th quarter worth $154,000. Finally, HB Wealth Management LLC purchased a new stake in shares of NewAmsterdam Pharma in the 4th quarter worth about $224,000. 89.89% of the stock is currently owned by institutional investors and hedge funds.

NewAmsterdam Pharma Stock Up 4.0 %

Shares of NAMS stock traded up $0.72 during mid-day trading on Tuesday, hitting $18.55. 424,048 shares of the company's stock were exchanged, compared to its average volume of 593,003. The stock has a market cap of $2.04 billion, a price-to-earnings ratio of -7.13 and a beta of -0.01. NewAmsterdam Pharma has a fifty-two week low of $14.06 and a fifty-two week high of $27.29. The stock has a 50-day simple moving average of $19.58 and a two-hundred day simple moving average of $21.24.

NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report) last issued its quarterly earnings results on Wednesday, February 26th. The company reported ($0.95) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.48) by ($0.47). The business had revenue of $12.77 million during the quarter, compared to analysts' expectations of $3.30 million. As a group, analysts anticipate that NewAmsterdam Pharma will post -1.75 earnings per share for the current fiscal year.

Insider Activity at NewAmsterdam Pharma

In related news, Director James N. Topper acquired 1,135 shares of the stock in a transaction dated Wednesday, March 26th. The stock was bought at an average cost 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 of the company's stock, valued at approximately $67,775,166.81. This represents a 0.04 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Louise Frederika Kooij sold 150,000 shares of the 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 directly owns 15,000 shares in the company, valued at $305,550. This trade represents a 90.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 19.50% of the stock is owned by insiders.

Analysts Set New Price Targets

NAMS has been the subject of a number of research reports. Royal Bank of Canada restated an "outperform" rating and set a $40.00 target price on shares of NewAmsterdam Pharma in a research report on Friday, January 24th. Needham & Company LLC reaffirmed a "buy" rating and issued a $42.00 target price on shares of NewAmsterdam Pharma in a research note on Tuesday, April 8th. Scotiabank raised their price target on NewAmsterdam Pharma from $47.00 to $52.00 and gave the stock a "sector outperform" rating in a research report on Thursday, February 27th. UBS Group set a $41.00 price objective on NewAmsterdam Pharma in a research report on Monday, March 3rd. Finally, HC Wainwright reiterated a "buy" rating and set a $48.00 price objective on shares of NewAmsterdam Pharma in a research report on Tuesday, January 14th. Six analysts have rated the stock with a buy rating, According to MarketBeat, NewAmsterdam Pharma presently has a consensus rating of "Buy" and an average price target of $43.33.

NewAmsterdam Pharma 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.