NewAmsterdam Pharma Company N.V. $NAMS Shares Acquired by Bank of America Corp DE

Key Points

• Bank of America increased its NewAmsterdam Pharma stake by 84.4% in the first quarter, bringing its holdings to 847,089 shares valued at approximately $27.1 million. Institutional investors collectively own 89.89% of the company.
• NewAmsterdam reported quarterly revenue of $3.70 million, above analyst expectations, but posted an adjusted loss of $0.52 per share, missing estimates. Analysts expect a full-year loss of $1.82 per share.
• NAMS shares opened at $26.98, while analysts maintain a “Moderate Buy” consensus with an average price target of $49.33; meanwhile, insiders have sold 210,000 shares worth about $6.7 million over the past 90 days.

Bank of America Corp DE boosted its stake in NewAmsterdam Pharma Company N.V. (NASDAQ:NAMS - Free Report) by 84.4% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 847,089 shares of the company's stock after buying an additional 387,698 shares during the period. Bank of America Corp DE owned 0.72% of NewAmsterdam Pharma worth $27,115,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Stempoint Capital LP lifted its stake in shares of NewAmsterdam Pharma by 147.1% in the 1st quarter. Stempoint Capital LP now owns 180,658 shares of the company's stock worth $5,783,000 after acquiring an additional 107,552 shares during the period. California State Teachers Retirement System raised its position in NewAmsterdam Pharma by 34.9% in the first quarter. California State Teachers Retirement System now owns 54,329 shares of the company's stock worth $1,739,000 after acquiring an additional 14,053 shares in the last quarter. Maverick Capital Ltd. lifted its holdings in NewAmsterdam Pharma by 15.4% in the 1st quarter. Maverick Capital Ltd. now owns 2,186,402 shares of the company's stock valued at $69,987,000 after acquiring an additional 292,176 shares during the last quarter. Sei Investments Co. boosted its position in shares of NewAmsterdam Pharma by 35.6% during the 1st quarter. Sei Investments Co. now owns 55,637 shares of the company's stock valued at $1,781,000 after purchasing an additional 14,597 shares in the last quarter. Finally, Mizuho Markets Cayman LP grew its stake in shares of NewAmsterdam Pharma by 9.1% in the 1st quarter. Mizuho Markets Cayman LP now owns 52,227 shares of the company's stock worth $1,672,000 after purchasing an additional 4,348 shares during the last quarter. Institutional investors and hedge funds own 89.89% of the company's stock.

Insider Transactions at NewAmsterdam Pharma

In other NewAmsterdam Pharma news, CAO Louise Frederika Kooij sold 105,000 shares of the business's stock in a transaction on Monday, July 20th. The shares were sold at an average price of $30.34, for a total transaction of $3,185,700.00. Following the sale, the chief accounting officer directly owned 24,353 shares of the company's stock, valued at $738,870.02. The trade was a 81.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders have sold 210,000 shares of company stock worth $6,713,550. 12.74% of the stock is owned by insiders.

NewAmsterdam Pharma Stock Performance

NAMS stock opened at $26.98 on Monday. NewAmsterdam Pharma Company N.V. has a one year low of $23.05 and a one year high of $42.21. The firm has a 50-day moving average of $30.92 and a two-hundred day moving average of $32.30. The firm has a market capitalization of $3.23 billion, a PE ratio of -12.49 and a beta of 0.10.

NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported ($0.52) earnings per share for the quarter, missing the consensus estimate of ($0.48) by ($0.04). NewAmsterdam Pharma had a negative return on equity of 34.81% and a negative net margin of 3,644.21%.The firm had revenue of $3.70 million during the quarter, compared to analysts' expectations of $2.83 million. On average, equities research analysts anticipate that NewAmsterdam Pharma Company N.V. will post -1.82 earnings per share for the current year.

Analyst Upgrades and Downgrades

NAMS has been the subject of several recent research reports. BMO Capital Markets initiated coverage on shares of NewAmsterdam Pharma in a research note on Monday, July 20th. They set an "outperform" rating and a $58.00 target price for the company. Royal Bank Of Canada decreased their price target on shares of NewAmsterdam Pharma from $51.00 to $50.00 and set an "outperform" rating on the stock in a research report on Thursday, August 6th. Jefferies Financial Group reaffirmed a "buy" rating and issued a $45.00 price target on shares of NewAmsterdam Pharma in a report on Monday, July 20th. Wall Street Zen upgraded NewAmsterdam Pharma from a "sell" rating to a "hold" rating in a research report on Saturday, May 9th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of NewAmsterdam Pharma in a research note on Friday, July 17th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $49.33.

NewAmsterdam Pharma 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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