Alliancebernstein L.P. Invests $47.75 Million in NewAmsterdam Pharma (NASDAQ:NAMS)

Alliancebernstein L.P. acquired a new position in NewAmsterdam Pharma (NASDAQ:NAMS - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 1,858,065 shares of the company's stock, valued at approximately $47,752,000. Alliancebernstein L.P. owned about 2.01% of NewAmsterdam Pharma at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of NAMS. FMR LLC increased its stake in NewAmsterdam Pharma by 35.6% in the 3rd quarter. FMR LLC now owns 330,412 shares of the company's stock worth $5,485,000 after buying an additional 86,712 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of NewAmsterdam Pharma by 1,231.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 239,283 shares of the company's stock valued at $3,972,000 after purchasing an additional 221,305 shares during the period. JPMorgan Chase & Co. grew its stake in 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 purchasing an additional 14,280 shares in the last quarter. State Street Corp raised its position in NewAmsterdam Pharma by 168.7% during the 3rd quarter. State Street Corp now owns 37,915 shares of the company's stock valued at $629,000 after purchasing an additional 23,805 shares in the last quarter. Finally, American Century Companies Inc. purchased a new stake in shares of NewAmsterdam Pharma in the 4th quarter worth $8,907,000. Institutional investors own 89.89% of the company's stock.

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Insider Buying and Selling

In related news, CAO Louise Frederika Kooij sold 150,000 shares of the business's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $20.37, for a total transaction of $3,055,500.00. Following the transaction, the chief accounting officer now directly owns 15,000 shares in the company, valued at approximately $305,550. The trade was a 90.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director James N. Topper acquired 4,005 shares of the business's stock in a transaction on Tuesday, March 4th. The stock was acquired at an average price of $21.02 per share, with a total value of $84,185.10. Following the acquisition, the director now owns 3,012,434 shares in the company, valued at $63,321,362.68. The trade was a 0.13 % increase in their position. The disclosure for this purchase can be found here. 19.50% of the stock is owned by insiders.

NewAmsterdam Pharma Price Performance

NAMS traded down $1.14 during trading on Thursday, reaching $14.72. 120,636 shares of the company's stock were exchanged, compared to its average volume of 577,838. The company's fifty day simple moving average is $20.51 and its 200-day simple moving average is $21.26. The stock has a market capitalization of $1.62 billion, a P/E ratio of -5.63 and a beta of -0.01. NewAmsterdam Pharma has a 1 year low of $14.06 and a 1 year high of $27.29.

NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report) last released its quarterly earnings data on Wednesday, February 26th. The company reported ($0.95) EPS for the quarter, missing the consensus estimate of ($0.48) by ($0.47). The business had revenue of $12.77 million during the quarter, compared to analyst estimates of $3.30 million. Equities analysts forecast that NewAmsterdam Pharma will post -1.75 EPS for the current year.

Analyst Upgrades and Downgrades

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