Bank of America Corp DE Buys 40,819 Shares of NewAmsterdam Pharma (NASDAQ:NAMS)

Bank of America Corp DE grew its holdings in shares of NewAmsterdam Pharma (NASDAQ:NAMS - Free Report) by 1,506.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 43,529 shares of the company's stock after buying an additional 40,819 shares during the period. Bank of America Corp DE's holdings in NewAmsterdam Pharma were worth $1,119,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in NAMS. Bain Capital Life Sciences Investors LLC boosted its stake in shares of NewAmsterdam Pharma by 2.3% in the 4th quarter. Bain Capital Life Sciences Investors LLC now owns 10,719,110 shares of the company's stock worth $275,481,000 after buying an additional 245,197 shares during the last quarter. RA Capital Management L.P. lifted its holdings in shares of NewAmsterdam Pharma by 9.7% during the 4th quarter. RA Capital Management L.P. now owns 8,845,000 shares of the company's stock worth $227,316,000 after acquiring an additional 781,000 shares during the last quarter. Wellington Management Group LLP boosted its stake in NewAmsterdam Pharma by 2,410.4% in the fourth quarter. Wellington Management Group LLP now owns 2,315,123 shares of the company's stock worth $59,499,000 after buying an additional 2,222,900 shares in the last quarter. Capital International Investors purchased a new stake in NewAmsterdam Pharma during the 4th quarter valued at about $53,007,000. Finally, Alliancebernstein L.P. bought a new position in shares of NewAmsterdam Pharma during the fourth quarter valued at about $47,752,000. 89.89% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at NewAmsterdam Pharma

In related news, Director James N. Topper purchased 1,135 shares of NewAmsterdam Pharma stock in a transaction that occurred on Wednesday, March 26th. The shares were acquired at an average price of $22.49 per share, for a total transaction of $25,526.15. Following the transaction, the director now directly owns 3,013,569 shares in the company, valued at approximately $67,775,166.81. This represents a 0.04% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 20.84% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on NAMS shares. Needham & Company LLC reduced their price objective on shares of NewAmsterdam Pharma from $42.00 to $40.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. UBS Group set a $41.00 price objective on NewAmsterdam Pharma in a research note on Monday, March 3rd. Wall Street Zen upgraded shares of NewAmsterdam Pharma from a "sell" rating to a "hold" rating in a report on Friday, May 30th. Cantor Fitzgerald initiated coverage on shares of NewAmsterdam Pharma in a research note on Wednesday. They issued an "overweight" rating and a $42.00 price objective for the company. Finally, Scotiabank lifted their price target on shares of NewAmsterdam Pharma from $47.00 to $52.00 and gave the stock a "sector outperform" rating in a report on Thursday, February 27th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, NewAmsterdam Pharma presently has an average rating of "Moderate Buy" and a consensus price target of $42.86.

NewAmsterdam Pharma Stock Performance

Shares of NewAmsterdam Pharma stock traded up $0.63 during trading hours on Friday, reaching $20.14. The company's stock had a trading volume of 1,003,460 shares, compared to its average volume of 661,297. The stock has a market cap of $2.26 billion, a P/E ratio of -10.71 and a beta of -0.03. NewAmsterdam Pharma has a one year low of $14.06 and a one year high of $27.29. The company's 50 day simple moving average is $17.78 and its 200 day simple moving average is $20.85.

NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.45) by ($0.04). The business had revenue of $2.98 million for the quarter, compared to analysts' expectations of $1.46 million. On average, sell-side analysts predict that NewAmsterdam Pharma will post -1.75 earnings per share for the current fiscal 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.