NewAmsterdam Pharma Company N.V. $NAMS Holdings Boosted by Legato Capital Management LLC

Key Points

• Legato Capital Management increased its stake in NewAmsterdam Pharma by 258.7% in the fourth quarter, ending with 83,833 shares valued at about $2.94 million.
• Analysts are mixed but generally constructive on NAMS, with a consensus rating of “Moderate Buy” and an average price target of $48.00; Truist initiated coverage with a $57 target while Weiss Ratings kept a sell rating.
• The stock closed at $35.44, while the company reported a quarterly loss of $0.40 per share on $3.04 million in revenue and saw notable insider selling, including large sales by the CEO and a director.

Legato Capital Management LLC boosted its position in shares of NewAmsterdam Pharma Company N.V. (NASDAQ:NAMS - Free Report) by 258.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 83,833 shares of the company's stock after purchasing an additional 60,463 shares during the period. Legato Capital Management LLC owned 0.07% of NewAmsterdam Pharma worth $2,941,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC grew its position in NewAmsterdam Pharma by 4,425.0% during the 4th quarter. Farther Finance Advisors LLC now owns 724 shares of the company's stock worth $25,000 after purchasing an additional 708 shares in the last quarter. Navalign LLC purchased a new position in NewAmsterdam Pharma during the 4th quarter worth approximately $46,000. NBC Securities Inc. purchased a new position in NewAmsterdam Pharma during the 4th quarter worth approximately $86,000. Mirae Asset Global Investments Co. Ltd. grew its position in NewAmsterdam Pharma by 26.6% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,510 shares of the company's stock worth $193,000 after purchasing an additional 1,156 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in NewAmsterdam Pharma by 5.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,868 shares of the company's stock worth $197,000 after purchasing an additional 544 shares in the last quarter. 89.89% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on NAMS. Weiss Ratings reiterated a "sell (d-)" rating on shares of NewAmsterdam Pharma in a research report on Tuesday, April 21st. Truist Financial began coverage on shares of NewAmsterdam Pharma in a research report on Wednesday, March 18th. They set a "buy" rating and a $57.00 price objective on the stock. Wall Street Zen upgraded shares of NewAmsterdam Pharma from a "sell" rating to a "hold" rating in a research report on Saturday, May 9th. Needham & Company LLC lifted their price objective on shares of NewAmsterdam Pharma from $46.00 to $48.00 and gave the stock a "buy" rating in a research report on Wednesday, February 18th. Finally, HC Wainwright raised shares of NewAmsterdam Pharma to a "strong-buy" rating in a research note on Thursday, February 19th. One 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, the company has a consensus rating of "Moderate Buy" and an average target price of $48.00.

NewAmsterdam Pharma Stock Down 0.8%

Shares of NASDAQ:NAMS opened at $35.44 on Friday. The firm has a fifty day moving average of $32.76 and a two-hundred day moving average of $34.25. The firm has a market capitalization of $4.14 billion, a P/E ratio of -19.80 and a beta of 0.02. NewAmsterdam Pharma Company N.V. has a 12-month low of $16.78 and a 12-month high of $42.21.

NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report) last issued its earnings results on Tuesday, March 31st. The company reported ($0.40) earnings per share (EPS) for the quarter. The company had revenue of $3.04 million for the quarter. NewAmsterdam Pharma had a negative net margin of 943.23% and a negative return on equity of 26.49%. Equities research analysts expect that NewAmsterdam Pharma Company N.V. will post -1.76 earnings per share for the current fiscal year.

Insider Buying and Selling at NewAmsterdam Pharma

In other news, Director Louis G. Lange sold 44,619 shares of the firm'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 in the company, valued at approximately $315,151.20. This trade represents a 81.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael H. Davidson sold 443,707 shares of the firm'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 transaction, the chief executive officer owned 174,144 shares in the company, valued at $5,790,288. This represents a 71.81% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 1,122,805 shares of company stock valued at $36,606,033 in the last quarter. Company insiders own 12.74% of the company's stock.

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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