Alliancebernstein L.P. Acquires 383,888 Shares of NewAmsterdam Pharma Company N.V. $NAMS

Key Points

• Alliancebernstein L.P. increased its stake in NewAmsterdam Pharma by 20.7% during the 1st quarter, holding a total of 2,241,953 shares valued at approximately $45.89 million.
• A number of institutional investors, including Frazier Life Sciences Management and Wellington Management, have significantly raised their stakes in NewAmsterdam Pharma, with 89.89% of the stock currently owned by institutional investors.
• NewAmsterdam Pharma reported a quarterly earnings beat with $19.15 million in revenue, exceeding expectations of $1.44 million, despite a negative EPS of ($0.15).

Alliancebernstein L.P. raised its holdings in NewAmsterdam Pharma Company N.V. (NASDAQ:NAMS - Free Report) by 20.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,241,953 shares of the company's stock after buying an additional 383,888 shares during the quarter. Alliancebernstein L.P. owned 2.04% of NewAmsterdam Pharma worth $45,893,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Quarry LP bought a new stake in NewAmsterdam Pharma in the 1st quarter valued at $25,000. GF Fund Management CO. LTD. bought a new stake in NewAmsterdam Pharma in the fourth quarter valued at about $50,000. Mirae Asset Global Investments Co. Ltd. increased its stake in NewAmsterdam Pharma by 19.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,675 shares of the company's stock valued at $80,000 after acquiring an additional 596 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in NewAmsterdam Pharma by 130.4% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,990 shares of the company's stock valued at $123,000 after acquiring an additional 3,390 shares during the period. Finally, Avanza Fonder AB bought a new stake in shares of NewAmsterdam Pharma in the 1st quarter valued at approximately $127,000. Institutional investors own 89.89% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on NAMS. Citigroup began coverage on NewAmsterdam Pharma in a research note on Tuesday, June 17th. They issued a "buy" rating and a $42.00 price objective on the stock. Needham & Company LLC reiterated a "buy" rating and issued a $40.00 price target on shares of NewAmsterdam Pharma in a research report on Thursday, June 12th. Stifel Nicolaus began coverage on NewAmsterdam Pharma in a research report on Tuesday, June 10th. They issued a "buy" rating and a $44.00 price target on the stock. Cantor Fitzgerald began coverage on shares of NewAmsterdam Pharma in a report on Wednesday, June 4th. They issued an "overweight" rating and a $42.00 target price on the stock. Finally, Wells Fargo & Company began coverage on shares of NewAmsterdam Pharma in a report on Monday, August 25th. They issued an "overweight" rating and a $45.00 target price on the stock. Nine analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $41.55.

Insider Activity at NewAmsterdam Pharma

In other news, Director James N. Topper acquired 1,260 shares of the firm's stock in a transaction on Monday, September 8th. The shares were purchased at an average cost of $24.99 per share, for a total transaction of $31,487.40. Following the transaction, the director owned 3,027,864 shares of the company's stock, valued at approximately $75,666,321.36. This represents a 0.04% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Louise Frederika Kooij sold 150,000 shares of the stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $25.83, for a total value of $3,874,500.00. Following the completion of the transaction, the chief accounting officer owned 15,000 shares in the company, valued at $387,450. The trade was a 90.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders acquired 14,095 shares of company stock valued at $279,621 and sold 424,954 shares valued at $9,773,906. 20.84% of the stock is owned by insiders.

NewAmsterdam Pharma Stock Down 3.6%

NASDAQ:NAMS traded down $0.97 during mid-day trading on Friday, reaching $25.64. 372,656 shares of the company were exchanged, compared to its average volume of 889,729. NewAmsterdam Pharma Company N.V. has a 12 month low of $14.06 and a 12 month high of $27.35. The company has a fifty day moving average of $23.58 and a 200 day moving average of $20.77. The stock has a market cap of $2.89 billion, a PE ratio of -15.84 and a beta of -0.01.

NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported ($0.15) EPS for the quarter, topping analysts' consensus estimates of ($0.52) by $0.37. NewAmsterdam Pharma had a negative net margin of 259.07% and a negative return on equity of 27.27%. The firm had revenue of $19.15 million for the quarter, compared to analyst estimates of $1.44 million. On average, equities research analysts anticipate that NewAmsterdam Pharma Company N.V. 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.