Ovata Capital Management Ltd Invests $3.86 Million in NewAmsterdam Pharma (NASDAQ:NAMS)

Ovata Capital Management Ltd acquired a new position in shares of NewAmsterdam Pharma (NASDAQ:NAMS - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 150,000 shares of the company's stock, valued at approximately $3,855,000. NewAmsterdam Pharma makes up approximately 1.5% of Ovata Capital Management Ltd's investment portfolio, making the stock its 17th largest holding. Ovata Capital Management Ltd owned 0.16% of NewAmsterdam Pharma at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in NAMS. Pamalican Asset Management Ltd purchased a new position in NewAmsterdam Pharma during the fourth quarter valued at approximately $771,000. Geode Capital Management LLC grew its holdings in shares of NewAmsterdam Pharma by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 88,544 shares of the company's stock valued at $2,276,000 after acquiring an additional 2,222 shares in the last quarter. National Bank of Canada FI acquired a new position in shares of NewAmsterdam Pharma in the fourth quarter worth $51,000. Alliancebernstein L.P. purchased a new stake in shares of NewAmsterdam Pharma during the fourth quarter worth $47,752,000. Finally, Wellington Management Group LLP boosted its position in NewAmsterdam Pharma by 2,410.4% during the fourth quarter. Wellington Management Group LLP now owns 2,315,123 shares of the company's stock valued at $59,499,000 after purchasing an additional 2,222,900 shares during the last quarter. 89.89% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at NewAmsterdam Pharma

In related news, CAO Louise Frederika Kooij sold 150,000 shares of the business'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 $305,550. The trade was a 90.91 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James N. Topper acquired 1,135 shares of the company's stock in a transaction on Wednesday, March 26th. The shares were bought at an average price of $22.49 per share, with a total value of $25,526.15. Following the completion of the purchase, the director now directly owns 3,013,569 shares of the company's stock, valued at approximately $67,775,166.81. This represents a 0.04 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 19.50% of the company's stock.

Remove Ads

NewAmsterdam Pharma Price Performance

Shares of NewAmsterdam Pharma stock traded down $1.21 during midday trading on Thursday, hitting $14.65. The company had a trading volume of 244,843 shares, compared to its average volume of 578,329. The stock has a market cap of $1.61 billion, a PE ratio of -5.62 and a beta of -0.01. NewAmsterdam Pharma has a 1-year low of $14.06 and a 1-year high of $27.29. The business's 50 day simple moving average is $20.51 and its two-hundred day simple moving average is $21.26.

NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report) last announced its quarterly earnings data on Wednesday, February 26th. The company reported ($0.95) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.48) by ($0.47). The firm had revenue of $12.77 million for the quarter, compared to the consensus estimate of $3.30 million. On average, sell-side analysts expect that NewAmsterdam Pharma will post -1.75 EPS for the current fiscal year.

Analysts Set New Price Targets

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

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.