Jennison Associates LLC Trims Stock Position in NewAmsterdam Pharma Company N.V. $NAMS

Key Points

• Jennison Associates trimmed its stake in NewAmsterdam Pharma by 16.9% in Q4, selling 709,333 shares and now holds 3,489,221 shares (~3.08% of the company) valued at $122.4 million.
• Heavy insider selling: CEO Michael H. Davidson sold 443,707 shares for $14.75M (a 71.8% reduction in his holdings) and insiders have sold 1,168,286 shares worth $38.2M over the past 90 days, leaving insiders with 20.84% ownership.
• Mixed analyst views and weak recent results: the consensus rating is "Moderate Buy" with a $48 target, but the company missed quarterly expectations (EPS -$0.63 vs. -$0.40) and reported revenue well below estimates, with a $3.3B market cap.

Jennison Associates LLC trimmed its holdings in shares of NewAmsterdam Pharma Company N.V. (NASDAQ:NAMS - Free Report) by 16.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,489,221 shares of the company's stock after selling 709,333 shares during the quarter. Jennison Associates LLC owned approximately 3.08% of NewAmsterdam Pharma worth $122,402,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Farther Finance Advisors LLC increased its holdings in NewAmsterdam Pharma by 4,425.0% during the fourth quarter. Farther Finance Advisors LLC now owns 724 shares of the company's stock valued at $25,000 after buying an additional 708 shares during the period. Mather Group LLC. purchased a new position in NewAmsterdam Pharma during the third quarter valued at approximately $28,000. Wolverine Asset Management LLC purchased a new position in NewAmsterdam Pharma during the third quarter valued at approximately $69,000. NBC Securities Inc. purchased a new position in NewAmsterdam Pharma during the fourth quarter valued at approximately $86,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in NewAmsterdam Pharma by 26.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,510 shares of the company's stock valued at $193,000 after buying an additional 1,156 shares during the period. 89.89% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Wall Street Zen lowered shares of NewAmsterdam Pharma from a "hold" rating to a "sell" rating in a report on Saturday, February 21st. Royal Bank Of Canada lifted their price objective on shares of NewAmsterdam Pharma from $44.00 to $47.00 and gave the company an "outperform" rating in a report on Wednesday, January 21st. Cantor Fitzgerald restated an "overweight" rating on shares of NewAmsterdam Pharma in a research note on Thursday, February 19th. Weiss Ratings restated a "sell (d-)" rating on shares of NewAmsterdam Pharma in a research note on Tuesday, April 21st. Finally, HC Wainwright upgraded shares of NewAmsterdam Pharma to a "strong-buy" rating in a research note on Thursday, February 19th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, NewAmsterdam Pharma presently has a consensus rating of "Moderate Buy" and a consensus target price of $48.00.

Insider Transactions at NewAmsterdam Pharma

In related news, CEO Michael H. Davidson sold 443,707 shares of the business's stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $33.25, for a total transaction of $14,753,257.75. Following the completion of the transaction, the chief executive officer directly owned 174,144 shares in the company, valued at $5,790,288. The trade was a 71.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Louis G. Lange sold 44,619 shares of the business's stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $30.42, for a total transaction of $1,357,309.98. Following the transaction, the director owned 10,360 shares of the company's stock, valued at $315,151.20. This represents a 81.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 1,168,286 shares of company stock worth $38,211,967. Company insiders own 20.84% of the company's stock.

NewAmsterdam Pharma Trading Up 1.1%

NASDAQ:NAMS opened at $28.75 on Thursday. NewAmsterdam Pharma Company N.V. has a 12 month low of $16.78 and a 12 month high of $42.00. The firm has a fifty day simple moving average of $32.13 and a 200-day simple moving average of $34.45. The company has a market capitalization of $3.30 billion, a P/E ratio of -16.72 and a beta of 0.13.

NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report) last posted its quarterly earnings data on Wednesday, February 18th. The company reported ($0.63) EPS for the quarter, missing the consensus estimate of ($0.40) by ($0.23). NewAmsterdam Pharma had a negative return on equity of 26.67% and a negative net margin of 906.22%.The company had revenue of $0.19 million for the quarter, compared to analyst estimates of $0.92 million. Equities analysts forecast that NewAmsterdam Pharma Company N.V. will post -1.89 EPS for the current year.

NewAmsterdam Pharma Company Profile

NewAmsterdam Pharma, Inc is a clinical‐stage biopharmaceutical company focused on discovering and developing novel small‐molecule therapies for cardiometabolic diseases. The company’s research efforts are aimed at addressing key unmet needs in metabolic syndrome, obesity and type 2 diabetes by modulating pathways involved in glucose regulation, energy homeostasis and lipid metabolism.

The company’s development pipeline features multiple small‐molecule candidates at various stages of preclinical and clinical evaluation.

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