CenterBook Partners LP Buys 13,675 Shares of NewAmsterdam Pharma Company N.V. (NASDAQ:NAMS)

Key Points

• CenterBook Partners LP increased its stake in NewAmsterdam Pharma by 6.6%, acquiring an additional 13,675 shares, bringing their total to 222,264 shares valued at approximately $4.55 million.
• Analysts have varying views on NewAmsterdam Pharma, with ratings ranging from "neutral" to "buy", and a consensus average price target of $41.30.
• NewAmsterdam Pharma's shares experienced an 8.7% increase, opening at $23.62, despite the company reporting a negative EPS of -$0.15 for the latest quarter, which exceeded analyst expectations.

CenterBook Partners LP lifted its stake in shares of NewAmsterdam Pharma Company N.V. (NASDAQ:NAMS - Free Report) by 6.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 222,264 shares of the company's stock after buying an additional 13,675 shares during the quarter. CenterBook Partners LP owned approximately 0.20% of NewAmsterdam Pharma worth $4,550,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. boosted its holdings 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 valued at $80,000 after acquiring an additional 596 shares during the period. Legal & General Group Plc raised its stake in shares of NewAmsterdam Pharma by 24.8% during the fourth quarter. Legal & General Group Plc now owns 22,946 shares of the company's stock valued at $590,000 after purchasing an additional 4,556 shares in the last quarter. Northern Trust Corp bought a new stake in shares of NewAmsterdam Pharma during the fourth quarter valued at about $556,000. Barclays PLC raised its stake in shares of NewAmsterdam Pharma by 120.0% during the fourth quarter. Barclays PLC now owns 16,713 shares of the company's stock valued at $429,000 after purchasing an additional 9,117 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new stake in shares of NewAmsterdam Pharma during the fourth quarter valued at about $784,000. Institutional investors and hedge funds own 89.89% of the company's stock.

NewAmsterdam Pharma Stock Down 4.3%

Shares of NAMS stock traded down $1.09 during trading hours on Monday, reaching $24.23. 244,666 shares of the company's stock were exchanged, compared to its average volume of 875,548. NewAmsterdam Pharma Company N.V. has a fifty-two week low of $14.06 and a fifty-two week high of $27.29. The stock has a market capitalization of $2.72 billion, a P/E ratio of -14.95 and a beta of -0.02. The business has a fifty day moving average price of $20.73 and a 200-day moving average price of $19.98.

NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported ($0.15) EPS 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 analyst estimates of $1.44 million. NewAmsterdam Pharma had a negative return on equity of 27.27% and a negative net margin of 259.07%. As a group, research analysts expect that NewAmsterdam Pharma Company N.V. will post -1.75 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Cantor Fitzgerald assumed coverage on shares of NewAmsterdam Pharma in a research report on Wednesday, June 4th. They issued an "overweight" rating and a $42.00 price target on the stock. The Goldman Sachs Group assumed coverage on NewAmsterdam Pharma in a report on Thursday, July 17th. They set a "neutral" rating and a $27.00 price objective on the stock. Needham & Company LLC restated a "buy" rating and set a $40.00 price objective on shares of NewAmsterdam Pharma in a report on Thursday, June 12th. Stifel Nicolaus began coverage on NewAmsterdam Pharma in a research note on Tuesday, June 10th. They set a "buy" rating and a $44.00 target price on the stock. Finally, Wall Street Zen raised NewAmsterdam Pharma from a "sell" rating to a "hold" rating in a research note on Saturday, July 5th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $41.20.

Insiders Place Their Bets

In other NewAmsterdam Pharma news, COO Douglas F. Kling sold 51,043 shares of the company's stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $21.10, for a total value of $1,077,007.30. Following the sale, the chief operating officer directly owned 44,000 shares in the company, valued at $928,400. This 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 at this hyperlink. Also, Director James N. Topper purchased 2,520 shares of the stock in a transaction on Tuesday, June 24th. The stock was bought at an average price of $18.43 per share, for a total transaction of $46,443.60. Following the completion of the transaction, the director directly owned 3,024,873 shares of the company's stock, valued at approximately $55,748,409.39. This trade represents a 0.08% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 12,364 shares of company stock worth $236,839 and sold 198,612 shares worth $4,025,887. Corporate insiders own 20.84% of the company's stock.

NewAmsterdam Pharma Company 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.