Jennison Associates LLC Decreases Stock Holdings in NewAmsterdam Pharma Company N.V. (NASDAQ:NAMS)

Jennison Associates LLC reduced its stake in shares of NewAmsterdam Pharma Company N.V. (NASDAQ:NAMS - Free Report) by 0.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,970,189 shares of the company's stock after selling 28,352 shares during the period. Jennison Associates LLC owned approximately 3.62% of NewAmsterdam Pharma worth $81,270,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. GF Fund Management CO. LTD. acquired a new position in NewAmsterdam Pharma during the fourth quarter valued at $50,000. National Bank of Canada FI acquired a new position in NewAmsterdam Pharma during the fourth quarter valued at $51,000. Mirae Asset Global Investments Co. Ltd. lifted its position in NewAmsterdam Pharma by 19.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,675 shares of the company's stock valued at $80,000 after purchasing an additional 596 shares during the period. Avanza Fonder AB acquired a new position in NewAmsterdam Pharma during the first quarter valued at $127,000. Finally, KLP Kapitalforvaltning AS acquired a new position in NewAmsterdam Pharma during the fourth quarter valued at $154,000. 89.89% of the stock is currently owned by institutional investors and hedge funds.

NewAmsterdam Pharma Trading Up 1.0%

NASDAQ:NAMS traded up $0.22 during midday trading on Friday, hitting $22.20. 951,534 shares of the company were exchanged, compared to its average volume of 746,919. The company has a fifty day simple moving average of $19.35 and a 200 day simple moving average of $20.18. NewAmsterdam Pharma Company N.V. has a fifty-two week low of $14.06 and a fifty-two week high of $27.29. The company has a market capitalization of $2.49 billion, a PE ratio of -11.81 and a beta of -0.03.

NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported ($0.49) earnings per share for the quarter, missing the consensus estimate of ($0.45) by ($0.04). The firm had revenue of $2.98 million during the quarter, compared to analysts' expectations of $1.46 million. NewAmsterdam Pharma had a negative net margin of 397.45% and a negative return on equity of 37.34%. As a group, equities research analysts expect that NewAmsterdam Pharma Company N.V. will post -1.75 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. The Goldman Sachs Group began coverage on shares of NewAmsterdam Pharma in a research report on Thursday. They issued a "neutral" rating and a $27.00 price objective for the company. Wall Street Zen raised shares of NewAmsterdam Pharma from a "sell" rating to a "hold" rating in a research note on Saturday, July 5th. Needham & Company LLC reissued a "buy" rating and set a $40.00 target price on shares of NewAmsterdam Pharma in a research note on Thursday, June 12th. Cantor Fitzgerald assumed coverage on shares of NewAmsterdam Pharma in a research note on Wednesday, June 4th. They set an "overweight" rating and a $42.00 target price for the company. Finally, Stifel Nicolaus assumed coverage on shares of NewAmsterdam Pharma in a research note on Tuesday, June 10th. They set a "buy" rating and a $44.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $41.30.

Insider Activity

In other NewAmsterdam Pharma news, COO Douglas F. Kling sold 51,043 shares of NewAmsterdam Pharma stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $21.10, for a total transaction of $1,077,007.30. Following the completion of the transaction, the chief operating officer owned 44,000 shares in the company, valued at approximately $928,400. The trade was a 53.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director James N. Topper bought 2,520 shares of the business's stock in a transaction on Tuesday, June 24th. The shares were acquired at an average price of $18.43 per share, with a total value of $46,443.60. Following the transaction, the director owned 3,024,873 shares of the company's stock, valued at $55,748,409.39. The trade was a 0.08% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 12,364 shares of company stock valued at $236,839 and sold 198,612 shares valued at $4,025,887. 20.84% of the stock is owned by company insiders.

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.