Cinctive Capital Management LP Sells 57,055 Shares of NewAmsterdam Pharma (NASDAQ:NAMS)

Cinctive Capital Management LP reduced its stake in NewAmsterdam Pharma (NASDAQ:NAMS - Free Report) by 85.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,516 shares of the company's stock after selling 57,055 shares during the period. Cinctive Capital Management LP's holdings in NewAmsterdam Pharma were worth $245,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NAMS. FMR LLC grew its stake in shares of NewAmsterdam Pharma by 35.6% in the 3rd quarter. FMR LLC now owns 330,412 shares of the company's stock valued at $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 grew its stake in 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 acquiring an additional 221,305 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of NewAmsterdam Pharma by 176.9% during the third quarter. JPMorgan Chase & Co. now owns 22,351 shares of the company's stock valued at $371,000 after acquiring an additional 14,280 shares in the last quarter. State Street Corp raised its position in shares of NewAmsterdam Pharma by 168.7% during the third quarter. State Street Corp now owns 37,915 shares of the company's stock worth $629,000 after purchasing an additional 23,805 shares during the period. Finally, American Century Companies Inc. bought a new position in shares of NewAmsterdam Pharma in the 4th quarter worth $8,907,000. 89.89% of the stock is owned by institutional investors.

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NewAmsterdam Pharma Trading Up 4.6 %

Shares of NAMS stock traded up $0.70 during trading on Wednesday, hitting $15.86. The company's stock had a trading volume of 1,828,277 shares, compared to its average volume of 579,605. The company has a market cap of $1.74 billion, a PE ratio of -6.10 and a beta of -0.01. The business has a fifty day moving average of $20.51 and a 200-day moving average of $21.26. NewAmsterdam Pharma has a 52 week low of $14.06 and a 52 week high of $27.29.

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 for the quarter, missing analysts' consensus estimates of ($0.48) by ($0.47). The company had revenue of $12.77 million for the quarter, compared to the consensus estimate of $3.30 million. As a group, research analysts predict that NewAmsterdam Pharma will post -1.75 EPS for the current year.

Analyst Ratings Changes

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

Insider Buying and Selling at NewAmsterdam Pharma

In other news, Director James N. Topper acquired 1,135 shares of the company's stock in a transaction that occurred on Wednesday, March 26th. The shares were acquired at an average price of $22.49 per share, for a total transaction of $25,526.15. Following the completion of the purchase, the director now owns 3,013,569 shares in the company, valued at approximately $67,775,166.81. This trade represents a 0.04 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, 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 completion of the sale, the chief accounting officer now directly owns 15,000 shares of the company's stock, valued at $305,550. This represents a 90.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 19.50% of the company's stock.

NewAmsterdam Pharma Company 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.