Cutter Capital Management LP Has $4.53 Million Stock Holdings in NewAmsterdam Pharma Company N.V. $NAMS

Key Points

• Cutter Capital Management LP has reduced its stake in NewAmsterdam Pharma by 34.4%, selling 116,000 shares and now holding about 221,152 shares, which accounts for roughly 2.0% of its overall portfolio.
• The stock has attracted interest from other large institutional investors, with 89.89% of shares currently held by such entities, indicating strong institutional support.
• Analysts have set a consensus target price of $41.55 for NewAmsterdam Pharma, with multiple firms issuing "buy" ratings, suggesting a positive outlook for the company's stock performance.

Cutter Capital Management LP cut its stake in shares of NewAmsterdam Pharma Company N.V. (NASDAQ:NAMS - Free Report) by 34.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 221,152 shares of the company's stock after selling 116,000 shares during the period. NewAmsterdam Pharma makes up approximately 2.0% of Cutter Capital Management LP's investment portfolio, making the stock its 21st largest holding. Cutter Capital Management LP owned about 0.20% of NewAmsterdam Pharma worth $4,527,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Alliancebernstein L.P. grew its stake in shares of NewAmsterdam Pharma by 20.7% during the first quarter. Alliancebernstein L.P. now owns 2,241,953 shares of the company's stock worth $45,893,000 after purchasing an additional 383,888 shares during the period. BVF Inc. IL acquired a new stake in shares of NewAmsterdam Pharma during the first quarter worth $1,209,000. Adage Capital Partners GP L.L.C. grew its stake in shares of NewAmsterdam Pharma by 85.8% during the first quarter. Adage Capital Partners GP L.L.C. now owns 1,950,650 shares of the company's stock worth $39,930,000 after purchasing an additional 900,650 shares during the period. RA Capital Management L.P. grew its stake in NewAmsterdam Pharma by 14.6% in the first quarter. RA Capital Management L.P. now owns 10,138,938 shares of the company's stock valued at $207,544,000 after acquiring an additional 1,293,938 shares during the period. Finally, Frazier Life Sciences Management L.P. grew its stake in NewAmsterdam Pharma by 1.3% in the first quarter. Frazier Life Sciences Management L.P. now owns 16,116,418 shares of the company's stock valued at $329,903,000 after acquiring an additional 200,000 shares during the period. 89.89% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on NAMS. Citigroup assumed coverage on NewAmsterdam Pharma in a research note on Tuesday, June 17th. They issued a "buy" rating and a $42.00 target price for the company. Royal Bank Of Canada upped their price objective on NewAmsterdam Pharma from $38.00 to $39.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Wells Fargo & Company assumed coverage on NewAmsterdam Pharma in a research note on Monday, August 25th. They set an "overweight" rating and a $45.00 target price on the stock. Wall Street Zen upgraded NewAmsterdam Pharma from a "sell" rating to a "hold" rating in a research note on Saturday, July 5th. Finally, Cantor Fitzgerald assumed coverage on NewAmsterdam Pharma in a research note on Wednesday, June 4th. They set an "overweight" rating and a $42.00 target price on the stock. Nine investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, NewAmsterdam Pharma has an average rating of "Moderate Buy" and a consensus target price of $41.55.

Insider Buying and Selling

In related news, CAO Louise Frederika Kooij sold 18,073 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $25.09, for a total transaction of $453,451.57. Following the sale, the chief accounting officer owned 15,000 shares of the company's stock, valued at $376,350. This represents a 54.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Johannes Jacob Piete Kastelein sold 50,000 shares of the stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $24.29, for a total value of $1,214,500.00. Following the sale, the insider directly owned 119,302 shares in the company, valued at $2,897,845.58. This represents a 29.53% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders acquired 12,835 shares of company stock worth $248,134 and sold 274,954 shares worth $5,899,406. 20.84% of the stock is owned by corporate insiders.

NewAmsterdam Pharma Price Performance

NASDAQ:NAMS traded up $1.34 during trading hours on Friday, reaching $27.00. 1,570,503 shares of the company were exchanged, compared to its average volume of 806,032. The company has a market capitalization of $3.04 billion, a P/E ratio of -16.67 and a beta of -0.01. NewAmsterdam Pharma Company N.V. has a 1-year low of $14.06 and a 1-year high of $27.29. The business has a 50 day moving average of $22.98 and a 200 day moving average of $20.56.

NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.52) by $0.37. The business had revenue of $19.15 million for the quarter, compared to the consensus estimate 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, equities research analysts anticipate that NewAmsterdam Pharma Company N.V. will post -1.75 earnings per share 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.