NewAmsterdam Pharma Company N.V. $NAMS Shares Sold by Fred Alger Management LLC

Key Points

• Fred Alger Management LLC reduced its stake in NewAmsterdam Pharma by 66%, holding 27,421 shares worth $561,000 as of its latest SEC filing.
• NewAmsterdam Pharma reported a loss of ($0.15) earnings per share, significantly outperforming analysts' expectations of ($0.52) during its latest quarterly earnings announcement.
• Institutional investors own 89.89% of NewAmsterdam Pharma's stock, indicating strong institutional interest in the company.

Fred Alger Management LLC lessened its position in NewAmsterdam Pharma Company N.V. (NASDAQ:NAMS - Free Report) by 66.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,421 shares of the company's stock after selling 53,158 shares during the period. Fred Alger Management LLC's holdings in NewAmsterdam Pharma were worth $561,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of NAMS. Frazier Life Sciences Management L.P. grew its stake in NewAmsterdam Pharma by 23.8% in the 4th quarter. Frazier Life Sciences Management L.P. now owns 15,916,418 shares of the company's stock worth $409,052,000 after acquiring an additional 3,061,224 shares during the period. Wellington Management Group LLP increased its position in NewAmsterdam Pharma by 2,410.4% during the fourth quarter. Wellington Management Group LLP now owns 2,315,123 shares of the company's stock worth $59,499,000 after purchasing an additional 2,222,900 shares during the last quarter. RA Capital Management L.P. increased its holdings in shares of NewAmsterdam Pharma by 14.6% during the 1st quarter. RA Capital Management L.P. now owns 10,138,938 shares of the company's stock worth $207,544,000 after buying an additional 1,293,938 shares during the last quarter. Woodline Partners LP raised its position in shares of NewAmsterdam Pharma by 108.7% in the 4th quarter. Woodline Partners LP now owns 2,430,782 shares of the company's stock worth $62,471,000 after buying an additional 1,266,105 shares during the period. Finally, Adage Capital Partners GP L.L.C. boosted its holdings in NewAmsterdam Pharma by 85.8% in the first quarter. Adage Capital Partners GP L.L.C. now owns 1,950,650 shares of the company's stock valued at $39,930,000 after acquiring an additional 900,650 shares during the last quarter. Institutional investors and hedge funds own 89.89% of the company's stock.

NewAmsterdam Pharma Trading Down 9.1%

NAMS stock traded down $2.41 during trading on Friday, reaching $24.19. The stock had a trading volume of 1,184,082 shares, compared to its average volume of 960,381. The firm has a fifty day moving average price of $23.67 and a 200 day moving average price of $20.81. The company has a market capitalization of $2.72 billion, a P/E ratio of -14.93 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 $27.35.

NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report) last announced its 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 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%. Sell-side analysts predict that NewAmsterdam Pharma Company N.V. will post -1.75 EPS for the current year.

Wall Street Analysts Forecast Growth

NAMS has been the topic of several research analyst reports. Wall Street Zen raised NewAmsterdam Pharma from a "sell" rating to a "hold" rating in a research note on Saturday, July 5th. Needham & Company LLC reiterated a "buy" rating and set a $40.00 price objective on shares of NewAmsterdam Pharma in a research note on Thursday, June 12th. Cantor Fitzgerald started coverage on shares of NewAmsterdam Pharma in a research note on Wednesday, June 4th. They issued an "overweight" rating and a $42.00 target price on the stock. Stifel Nicolaus started coverage on shares of NewAmsterdam Pharma in a research report on Tuesday, June 10th. They set a "buy" rating and a $44.00 price target for the company. Finally, The Goldman Sachs Group started coverage on NewAmsterdam Pharma in a report on Thursday, July 17th. They issued a "neutral" rating and a $27.00 price target for the company. Nine equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $41.55.

Insiders Place Their Bets

In related news, Director James N. Topper purchased 8,584 shares of the firm's stock in a transaction dated Monday, June 16th. The stock was acquired at an average price of $19.50 per share, with a total value of $167,388.00. Following the completion of the transaction, the director owned 3,022,153 shares of the company's stock, valued at $58,931,983.50. This represents a 0.28% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Douglas F. Kling sold 100,000 shares of the stock in a transaction on Monday, June 16th. The shares were sold at an average price of $19.29, for a total transaction of $1,929,000.00. Following the transaction, the chief operating officer owned 44,000 shares in the company, valued at $848,760. This trade represents a 69.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 14,095 shares of company stock valued at $279,621 and have sold 424,954 shares valued at $9,773,906. 20.84% of the stock is currently owned by insiders.

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.