Handelsbanken Fonder AB Grows Position in NewAmsterdam Pharma (NASDAQ:NAMS)

Handelsbanken Fonder AB increased its position in NewAmsterdam Pharma (NASDAQ:NAMS - Free Report) by 38.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 260,000 shares of the company's stock after purchasing an additional 72,596 shares during the quarter. Handelsbanken Fonder AB owned approximately 0.24% of NewAmsterdam Pharma worth $5,322,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. GF Fund Management CO. LTD. purchased a new position in shares of NewAmsterdam Pharma in the 4th quarter valued at approximately $50,000. National Bank of Canada FI purchased a new position in NewAmsterdam Pharma during the fourth quarter valued at $51,000. Geode Capital Management LLC raised its stake in NewAmsterdam Pharma by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 88,544 shares of the company's stock valued at $2,276,000 after buying an additional 2,222 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in NewAmsterdam Pharma during the fourth quarter valued at $80,000. Finally, California State Teachers Retirement System raised its stake in NewAmsterdam Pharma by 23.5% during the fourth quarter. California State Teachers Retirement System now owns 19,404 shares of the company's stock valued at $499,000 after buying an additional 3,694 shares during the last quarter. Hedge funds and other institutional investors own 89.89% of the company's stock.

NewAmsterdam Pharma Stock Down 2.3%

Shares of NewAmsterdam Pharma stock traded down $0.46 on Monday, reaching $19.75. The company's stock had a trading volume of 2,450,800 shares, compared to its average volume of 688,898. The company has a market capitalization of $2.22 billion, a price-to-earnings ratio of -10.51 and a beta of -0.03. The firm's fifty day simple moving average is $18.29 and its two-hundred day simple moving average is $20.86. NewAmsterdam Pharma has a 52 week low of $14.06 and a 52 week high of $27.29.

NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported ($0.49) EPS for the quarter, missing analysts' consensus estimates of ($0.45) by ($0.04). The business had revenue of $2.98 million during the quarter, compared to analyst estimates of $1.46 million. As a group, research analysts predict that NewAmsterdam Pharma will post -1.75 EPS for the current year.

Insiders Place Their Bets

In other news, Director James N. Topper acquired 1,135 shares of the business's stock in a transaction that occurred on Wednesday, March 26th. The stock was bought at an average price of $22.49 per share, with a total value of $25,526.15. Following the completion of the acquisition, the director now directly owns 3,013,569 shares of the company's stock, valued at approximately $67,775,166.81. The trade was a 0.04% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 20.84% of the company's stock.

Analyst Ratings Changes

A number of research analysts have issued reports on NAMS shares. Scotiabank lifted their price objective on NewAmsterdam Pharma from $47.00 to $52.00 and gave the company a "sector outperform" rating in a research note on Thursday, February 27th. Cantor Fitzgerald started coverage on NewAmsterdam Pharma in a research note on Wednesday, June 4th. They set an "overweight" rating and a $42.00 price objective for the company. Needham & Company LLC reiterated a "buy" rating and set a $40.00 price objective on shares of NewAmsterdam Pharma in a research note on Thursday. UBS Group set a $41.00 price objective on NewAmsterdam Pharma in a research note on Monday, March 3rd. Finally, Wall Street Zen upgraded NewAmsterdam Pharma from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $43.00.

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.