Pamalican Asset Management Ltd Buys New Holdings in NewAmsterdam Pharma (NASDAQ:NAMS)

Pamalican Asset Management Ltd bought a new stake in NewAmsterdam Pharma (NASDAQ:NAMS - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 30,000 shares of the company's stock, valued at approximately $771,000.

A number of other large investors have also modified their holdings of the stock. Geode Capital Management LLC increased its holdings in NewAmsterdam Pharma by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 86,322 shares of the company's stock worth $1,433,000 after purchasing an additional 1,399 shares during the last quarter. National Bank of Canada FI acquired a new stake in NewAmsterdam Pharma in the fourth quarter valued at $51,000. Mirae Asset Global Investments Co. Ltd. bought a new position in NewAmsterdam Pharma during the 4th quarter valued at $80,000. KLP Kapitalforvaltning AS acquired a new position in NewAmsterdam Pharma during the 4th quarter worth $154,000. Finally, Quarry LP raised its stake in shares of NewAmsterdam Pharma by 2,469.2% in the 3rd quarter. Quarry LP now owns 6,500 shares of the company's stock valued at $108,000 after purchasing an additional 6,247 shares in the last quarter. Institutional investors and hedge funds own 89.89% of the company's stock.

Insider Activity

In other news, CAO Louise Frederika Kooij sold 150,000 shares of the company's stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $20.37, for a total value of $3,055,500.00. Following the completion of the transaction, the chief accounting officer now owns 15,000 shares in the company, valued at $305,550. This represents a 90.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James N. Topper purchased 4,005 shares of the company's stock in a transaction on Tuesday, March 4th. The stock was purchased at an average cost of $21.02 per share, for a total transaction of $84,185.10. Following the purchase, the director now directly owns 3,012,434 shares in the company, valued at approximately $63,321,362.68. This trade represents a 0.13 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 19.50% of the stock is currently owned by insiders.

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Analyst Upgrades and Downgrades

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

NewAmsterdam Pharma Price Performance

Shares of NASDAQ NAMS traded up $0.40 during mid-day trading on Wednesday, hitting $15.56. The company had a trading volume of 268,312 shares, compared to its average volume of 572,854. NewAmsterdam Pharma has a 12 month low of $14.06 and a 12 month high of $27.29. The firm has a market cap of $1.71 billion, a P/E ratio of -5.99 and a beta of -0.01. The business's 50-day simple moving average is $20.76 and its 200-day simple moving average is $21.30.

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

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.