Arrowstreet Capital Limited Partnership Makes New $784,000 Investment in NewAmsterdam Pharma (NASDAQ:NAMS)

Arrowstreet Capital Limited Partnership purchased a new stake in shares of NewAmsterdam Pharma (NASDAQ:NAMS - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 30,504 shares of the company's stock, valued at approximately $784,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Jennison Associates LLC grew its stake in shares of NewAmsterdam Pharma by 291.9% in the 4th quarter. Jennison Associates LLC now owns 3,998,541 shares of the company's stock worth $102,763,000 after purchasing an additional 2,978,263 shares during the last quarter. Pictet Asset Management Holding SA lifted its position in shares of NewAmsterdam Pharma by 13.8% in the fourth quarter. Pictet Asset Management Holding SA now owns 1,157,452 shares of the company's stock worth $29,747,000 after buying an additional 140,605 shares during the last quarter. TimesSquare Capital Management LLC grew its stake in NewAmsterdam Pharma by 250.9% in the 4th quarter. TimesSquare Capital Management LLC now owns 895,574 shares of the company's stock valued at $23,016,000 after buying an additional 640,329 shares during the last quarter. American Century Companies Inc. bought a new position in NewAmsterdam Pharma in the 4th quarter worth approximately $8,907,000. Finally, Handelsbanken Fonder AB bought a new stake in shares of NewAmsterdam Pharma in the fourth quarter valued at about $4,816,000. 89.89% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other NewAmsterdam Pharma news, CAO Louise Frederika Kooij sold 150,000 shares of the firm's 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 sale, the chief accounting officer now owns 15,000 shares of the company's stock, valued at approximately $305,550. This trade represents a 90.91 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director James N. Topper bought 4,005 shares of the company's stock in a transaction dated Tuesday, March 4th. The stock was bought at an average cost of $21.02 per share, with a total value of $84,185.10. Following the acquisition, the director now directly owns 3,012,434 shares of the company's stock, valued at approximately $63,321,362.68. The trade was a 0.13 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 19.50% of the company's stock.

Remove Ads

NewAmsterdam Pharma Stock Down 0.7 %

NAMS stock traded down $0.11 during midday trading on Wednesday, reaching $15.95. The company's stock had a trading volume of 163,830 shares, compared to its average volume of 587,065. NewAmsterdam Pharma has a 52 week low of $14.06 and a 52 week high of $27.29. The business's 50-day simple moving average is $20.07 and its 200-day simple moving average is $21.26. The stock has a market cap of $1.75 billion, a PE ratio of -6.13 and a beta of -0.01.

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

Analysts Set New Price Targets

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

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.