NewAmsterdam Pharma Company N.V. $NAMS Shares Sold by Handelsbanken Fonder AB

Key Points

• Handelsbanken Fonder AB cut its NewAmsterdam Pharma stake by 70.8% in the second quarter, selling 296,500 shares and retaining 122,400 shares. Institutional investors and hedge funds collectively own 89.89% of the company.
• NewAmsterdam reported a quarterly loss of $0.52 per share, missing analyst expectations of a $0.48 loss, while revenue of $3.70 million exceeded estimates of $2.83 million. The stock opened at $26.98, near the lower end of its 52-week range.
• Analyst sentiment remains broadly positive, with the shares carrying a “Moderate Buy” consensus rating and an average price target of $49.33, despite recent insider selling and one “sell” rating.

Handelsbanken Fonder AB lessened its holdings in NewAmsterdam Pharma Company N.V. (NASDAQ:NAMS - Free Report) by 70.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 122,400 shares of the company's stock after selling 296,500 shares during the quarter. Handelsbanken Fonder AB owned 0.10% of NewAmsterdam Pharma worth $4,148,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of NewAmsterdam Pharma during the 1st quarter worth approximately $610,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of NewAmsterdam Pharma by 13.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 288,134 shares of the company's stock valued at $5,898,000 after buying an additional 34,563 shares in the last quarter. Geode Capital Management LLC grew its holdings in NewAmsterdam Pharma by 15.9% during the second quarter. Geode Capital Management LLC now owns 99,457 shares of the company's stock worth $1,800,000 after acquiring an additional 13,629 shares during the period. Legal & General Group Plc grew its holdings in NewAmsterdam Pharma by 33.5% during the second quarter. Legal & General Group Plc now owns 44,235 shares of the company's stock worth $801,000 after acquiring an additional 11,106 shares during the period. Finally, Invesco Ltd. raised its position in NewAmsterdam Pharma by 12.7% in the second quarter. Invesco Ltd. now owns 134,035 shares of the company's stock worth $2,427,000 after acquiring an additional 15,101 shares in the last quarter. Institutional investors and hedge funds own 89.89% of the company's stock.

NewAmsterdam Pharma Stock Up 1.2%

Shares of NAMS stock opened at $26.98 on Friday. NewAmsterdam Pharma Company N.V. has a fifty-two week low of $23.05 and a fifty-two week high of $42.21. The stock has a market cap of $3.23 billion, a P/E ratio of -12.49 and a beta of 0.10. The business has a fifty day simple moving average of $30.92 and a 200-day simple moving average of $32.30.

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

Insider Transactions at NewAmsterdam Pharma

In other NewAmsterdam Pharma news, CAO Louise Frederika Kooij sold 105,000 shares of NewAmsterdam Pharma stock in a transaction dated 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 completion of the transaction, the chief accounting officer owned 24,353 shares in the company, valued at approximately $738,870.02. The trade was a 81.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold a total of 210,000 shares of company stock worth $6,713,550 in the last ninety days. Insiders own 12.74% of the company's stock.

Analyst Upgrades and Downgrades

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

About NewAmsterdam Pharma

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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