Alliancebernstein L.P. Has $45.89 Million Position in 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. lifted its stake in shares of NewAmsterdam Pharma Company N.V. (NASDAQ:NAMS - Free Report) by 20.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,241,953 shares of the company's stock after acquiring an additional 383,888 shares during the period. Alliancebernstein L.P. owned approximately 2.04% of NewAmsterdam Pharma worth $45,893,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. increased its position in shares of NewAmsterdam Pharma by 19.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,675 shares of the company's stock worth $80,000 after acquiring an additional 596 shares in the last quarter. Quarry LP bought a new stake in shares of NewAmsterdam Pharma during the first quarter worth $25,000. GF Fund Management CO. LTD. bought a new stake in shares of NewAmsterdam Pharma during the fourth quarter worth $50,000. China Universal Asset Management Co. Ltd. increased its position in shares of NewAmsterdam Pharma by 12.5% during the first quarter. China Universal Asset Management Co. Ltd. now owns 22,028 shares of the company's stock worth $451,000 after acquiring an additional 2,439 shares in the last quarter. Finally, HB Wealth Management LLC increased its position in shares of NewAmsterdam Pharma by 28.9% during the first quarter. HB Wealth Management LLC now owns 11,247 shares of the company's stock worth $230,000 after acquiring an additional 2,519 shares in the last quarter. Institutional investors own 89.89% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Royal Bank Of Canada increased their price objective on shares of NewAmsterdam Pharma from $38.00 to $39.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. The Goldman Sachs Group assumed coverage on shares of NewAmsterdam Pharma in a research report on Thursday, July 17th. They set a "neutral" rating and a $27.00 price objective for the company. Needham & Company LLC reissued a "buy" rating and set a $40.00 price objective on shares of NewAmsterdam Pharma in a research report on Thursday, June 12th. Citigroup started coverage on shares of NewAmsterdam Pharma in a report on Tuesday, June 17th. They set a "buy" rating and a $42.00 target price for the company. Finally, Wall Street Zen raised shares of NewAmsterdam Pharma from a "sell" rating to a "hold" rating in a research report on Saturday, July 5th. Nine research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $41.55.

NewAmsterdam Pharma Stock Performance

NewAmsterdam Pharma stock traded down $0.99 during mid-day trading on Thursday, reaching $25.92. The company's stock had a trading volume of 1,768,571 shares, compared to its average volume of 890,239. The company has a market capitalization of $2.92 billion, a price-to-earnings ratio of -15.96 and a beta of -0.01. NewAmsterdam Pharma Company N.V. has a 12 month low of $14.06 and a 12 month high of $27.35. The business's 50 day simple moving average is $23.45 and its 200 day simple moving average is $20.70.

NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported ($0.15) earnings per share for the quarter, beating analysts' consensus estimates of ($0.52) by $0.37. The business had revenue of $19.15 million during the quarter, compared to the consensus estimate of $1.44 million. NewAmsterdam Pharma had a negative net margin of 259.07% and a negative return on equity of 27.27%. As a group, sell-side analysts expect that NewAmsterdam Pharma Company N.V. will post -1.75 EPS for the current year.

Insider Activity

In other NewAmsterdam Pharma news, COO Douglas F. Kling sold 51,043 shares of the stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $21.10, for a total value of $1,077,007.30. Following the completion of the sale, the chief operating officer owned 44,000 shares in the company, valued at $928,400. This trade represents a 53.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director James N. Topper purchased 1,260 shares of the business's stock in a transaction on Monday, September 8th. The stock was purchased at an average price of $24.99 per share, with a total value of $31,487.40. Following the purchase, the director owned 3,027,864 shares of the company's stock, valued at approximately $75,666,321.36. The trade was a 0.04% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 14,095 shares of company stock worth $279,621 and have sold 424,954 shares worth $9,773,906. 20.84% of the stock is currently owned by insiders.

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.