Adage Capital Partners GP L.L.C. Cuts Stake in NewAmsterdam Pharma (NASDAQ:NAMS)

Adage Capital Partners GP L.L.C. lowered its position in NewAmsterdam Pharma (NASDAQ:NAMS - Free Report) by 23.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,050,000 shares of the company's stock after selling 330,000 shares during the period. Adage Capital Partners GP L.L.C. owned approximately 1.14% of NewAmsterdam Pharma worth $26,985,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. National Bank of Canada FI purchased a new stake in NewAmsterdam Pharma in the fourth quarter valued at approximately $51,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in NewAmsterdam Pharma in the fourth quarter valued at approximately $80,000. KLP Kapitalforvaltning AS purchased a new stake in NewAmsterdam Pharma in the fourth quarter valued at approximately $154,000. Barclays PLC boosted its position in NewAmsterdam Pharma by 1,813.4% in the third quarter. Barclays PLC now owns 7,596 shares of the company's stock valued at $126,000 after buying an additional 7,199 shares during the last quarter. Finally, HB Wealth Management LLC purchased a new stake in NewAmsterdam Pharma in the fourth quarter valued at approximately $224,000. Hedge funds and other institutional investors own 89.89% of the company's stock.

Insiders Place Their Bets

In other news, CAO Louise Frederika Kooij sold 150,000 shares of the business'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 sale, the chief accounting officer now directly owns 15,000 shares of the company's stock, valued at approximately $305,550. The trade was a 90.91 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James N. Topper purchased 1,135 shares of NewAmsterdam Pharma stock in a transaction dated Wednesday, March 26th. The stock was bought at an average cost of $22.49 per share, for a total transaction of $25,526.15. Following the completion of the purchase, the director now directly owns 3,013,569 shares in the company, valued at approximately $67,775,166.81. This trade represents a 0.04 % increase in their position. The disclosure for this purchase can be found here. 19.50% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. HC Wainwright reiterated a "buy" rating and issued a $48.00 target price on shares of NewAmsterdam Pharma in a research report on Tuesday, January 14th. Needham & Company LLC restated a "buy" rating and issued a $42.00 price objective on shares of NewAmsterdam Pharma in a research report on Tuesday, April 8th. UBS Group set a $41.00 price objective on NewAmsterdam Pharma in a research report on Monday, March 3rd. Scotiabank upped their price objective 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, Royal Bank of Canada reissued an "outperform" rating and issued a $40.00 price objective on shares of NewAmsterdam Pharma in a research note on Friday, January 24th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $43.33.

NewAmsterdam Pharma Stock Performance

Shares of NAMS stock traded up $0.75 on Thursday, hitting $19.88. 287,826 shares of the stock traded hands, compared to its average volume of 596,749. NewAmsterdam Pharma has a twelve month low of $14.06 and a twelve month high of $27.29. The firm's 50-day moving average price is $19.58 and its two-hundred day moving average price is $21.21. The stock has a market capitalization of $2.18 billion, a PE ratio of -7.64 and a beta of -0.01.

NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report) last issued its earnings results on Wednesday, February 26th. The company reported ($0.95) EPS for the quarter, missing analysts' consensus estimates of ($0.48) by ($0.47). The business had revenue of $12.77 million for the quarter, compared to the consensus estimate of $3.30 million. On average, equities research analysts anticipate that NewAmsterdam Pharma will post -1.75 EPS for the current fiscal 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.