Cinctive Capital Management LP Boosts Holdings in NewAmsterdam Pharma (NASDAQ:NAMS)

Cinctive Capital Management LP raised its holdings in NewAmsterdam Pharma (NASDAQ:NAMS - Free Report) by 77.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 66,571 shares of the company's stock after purchasing an additional 29,115 shares during the period. Cinctive Capital Management LP owned about 0.07% of NewAmsterdam Pharma worth $1,105,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the company. Millennium Management LLC lifted its holdings in shares of NewAmsterdam Pharma by 23.0% in 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. Jennison Associates LLC grew its holdings in NewAmsterdam Pharma by 8.9% during the 3rd quarter. Jennison Associates LLC now owns 1,020,278 shares of the company's stock valued at $16,937,000 after buying an additional 83,115 shares during the last quarter. Deerfield Management Company L.P. Series C lifted its stake in shares of NewAmsterdam Pharma by 30.3% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 869,250 shares of the company's stock worth $16,698,000 after purchasing an additional 202,250 shares during the period. Affinity Asset Advisors LLC lifted its stake in shares of NewAmsterdam Pharma by 47.9% during the 2nd quarter. Affinity Asset Advisors LLC now owns 423,155 shares of the company's stock worth $8,129,000 after purchasing an additional 136,955 shares during the period. Finally, Decheng Capital LLC purchased a new position in shares of NewAmsterdam Pharma during the 2nd quarter worth $7,684,000. 89.89% of the stock is owned by institutional investors and hedge funds.

NewAmsterdam Pharma Trading Down 8.6 %

Shares of NASDAQ NAMS traded down $1.71 during trading on Wednesday, reaching $18.27. The company had a trading volume of 1,102,382 shares, compared to its average volume of 300,899. The company's fifty day moving average price is $19.72 and its 200-day moving average price is $18.56. NewAmsterdam Pharma has a 12 month low of $8.90 and a 12 month high of $26.35.

Wall Street Analysts Forecast Growth

Several research firms have commented on NAMS. Royal Bank of Canada reissued an "outperform" rating and issued a $31.00 price objective on shares of NewAmsterdam Pharma in a research report on Thursday, September 5th. Needham & Company LLC reaffirmed a "buy" rating and set a $36.00 target price on shares of NewAmsterdam Pharma in a research note on Thursday, November 21st. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $37.00 target price on shares of NewAmsterdam Pharma in a research report on Monday, September 23rd. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, NewAmsterdam Pharma presently has an average rating of "Buy" and an average target price of $33.80.

Insider Buying and Selling

In other news, major shareholder Nap B.V. Forgrowth sold 33,273 shares of the firm's stock in a transaction on Monday, November 18th. The stock was sold at an average price of $25.08, for a total value of $834,486.84. Following the completion of the transaction, the insider now directly owns 11,778,760 shares of the company's stock, valued at $295,411,300.80. This trade represents a 0.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Louise Frederika Kooij sold 45,000 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $15.72, for a total value of $707,400.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 86,803 shares of company stock valued at $1,755,307. 19.50% of the stock is owned by company insiders.

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.