Marshall Wace LLP Decreases Stake in NewAmsterdam Pharma (NASDAQ:NAMS)

Marshall Wace LLP lowered its stake in NewAmsterdam Pharma (NASDAQ:NAMS - Free Report) by 81.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,831 shares of the company's stock after selling 93,549 shares during the period. Marshall Wace LLP's holdings in NewAmsterdam Pharma were worth $419,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Parkman Healthcare Partners LLC raised its holdings in shares of NewAmsterdam Pharma by 20.8% during the fourth quarter. Parkman Healthcare Partners LLC now owns 300,750 shares of the company's stock worth $3,359,000 after purchasing an additional 51,726 shares during the last quarter. Opaleye Management Inc. purchased a new position in shares of NewAmsterdam Pharma during the fourth quarter worth $2,964,000. Yarbrough Capital LLC purchased a new position in shares of NewAmsterdam Pharma during the first quarter worth $567,000. Jennison Associates LLC purchased a new position in shares of NewAmsterdam Pharma during the first quarter worth $22,015,000. Finally, TimesSquare Capital Management LLC purchased a new position in shares of NewAmsterdam Pharma during the first quarter worth $5,407,000. Hedge funds and other institutional investors own 89.89% of the company's stock.

Insider Activity

In other news, CAO Louise Frederika Kooij sold 45,000 shares of NewAmsterdam Pharma stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $15.72, for a total value of $707,400.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 19.50% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on NAMS shares. Needham & Company LLC started coverage on shares of NewAmsterdam Pharma in a report on Wednesday, August 28th. They set a "buy" rating and a $36.00 target price for the company. Royal Bank of Canada reissued an "outperform" rating and set a $31.00 target price on shares of NewAmsterdam Pharma in a report on Thursday, September 5th. Finally, Piper Sandler reissued an "overweight" rating and set a $37.00 target price on shares of NewAmsterdam Pharma in a report on Monday, September 23rd. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $33.80.

NewAmsterdam Pharma Stock Up 3.2 %

NAMS stock traded up $0.57 during midday trading on Friday, hitting $18.19. 211,402 shares of the stock traded hands, compared to its average volume of 255,906. The stock's fifty day simple moving average is $16.52 and its 200-day simple moving average is $18.72. NewAmsterdam Pharma has a 1-year low of $5.63 and a 1-year high of $26.35.

NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.51) EPS for the quarter, beating the consensus estimate of ($0.59) by $0.08. The firm had revenue of $2.28 million for the quarter, compared to analyst estimates of $2.20 million. On average, research analysts forecast that NewAmsterdam Pharma will post -2.06 EPS for the current year.

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.