Fred Alger Management LLC Sells 53,158 Shares of NewAmsterdam Pharma Company N.V. $NAMS

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 reduced its stake in shares of NewAmsterdam Pharma Company N.V. (NASDAQ:NAMS - Free Report) by 66.0% in the first quarter, according to its most recent filing with the SEC. The institutional investor 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 filing with the SEC.

Other large investors also recently modified their holdings of the company. Quarry LP purchased a new position in shares of NewAmsterdam Pharma during the first quarter valued at approximately $25,000. GF Fund Management CO. LTD. bought a new position in NewAmsterdam Pharma during the 4th quarter valued at $50,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in NewAmsterdam Pharma by 19.4% during the 1st 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 in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in NewAmsterdam Pharma by 130.4% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,990 shares of the company's stock worth $123,000 after acquiring an additional 3,390 shares during the last quarter. Finally, Avanza Fonder AB bought a new stake in shares of NewAmsterdam Pharma in the 1st quarter worth $127,000. Institutional investors own 89.89% of the company's stock.

Insider Buying and Selling at NewAmsterdam Pharma

In other NewAmsterdam Pharma news, Director James N. Topper acquired 2,520 shares of NewAmsterdam Pharma stock in a transaction that occurred on Tuesday, June 24th. The stock was acquired at an average cost of $18.43 per share, for a total transaction of $46,443.60. Following the purchase, the director owned 3,024,873 shares of the company's stock, valued at approximately $55,748,409.39. This represents a 0.08% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Johannes Jacob Piete Kastelein sold 50,000 shares of the stock in a transaction 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 owned 119,302 shares in the company, valued at approximately $2,897,845.58. This represents a 29.53% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders purchased 5,511 shares of company stock valued at $112,233 and sold 324,954 shares valued at $7,844,906. Company insiders own 20.84% of the company's stock.

NewAmsterdam Pharma Price Performance

Shares of NAMS traded up $0.40 during mid-day trading on Tuesday, hitting $24.52. The stock had a trading volume of 530,046 shares, compared to its average volume of 976,589. The business has a fifty day moving average price of $23.85 and a 200-day moving average price of $20.86. NewAmsterdam Pharma Company N.V. has a 52 week low of $14.06 and a 52 week high of $27.35. The firm has a market cap of $2.76 billion, a P/E ratio of -15.14 and a beta of -0.01.

NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported ($0.15) EPS for the quarter, beating the consensus estimate 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 net margin of 259.07% and a negative return on equity of 27.27%. As a group, research analysts expect that NewAmsterdam Pharma Company N.V. will post -1.75 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently weighed in on NAMS. Wall Street Zen raised shares of NewAmsterdam Pharma from a "sell" rating to a "hold" rating in a research report on Saturday, July 5th. 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 price objective for the company. Royal Bank Of Canada boosted their target price on NewAmsterdam Pharma from $38.00 to $39.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Citigroup initiated coverage on NewAmsterdam Pharma in a report on Tuesday, June 17th. They issued a "buy" rating and a $42.00 target price for the company. Finally, The Goldman Sachs Group started coverage on NewAmsterdam Pharma in a research report on Thursday, July 17th. They issued a "neutral" rating and a $27.00 price objective on the stock. Nine analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, NewAmsterdam Pharma presently has an average rating of "Moderate Buy" and an average price target of $41.55.

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.