Two Sigma Investments LP Reduces Holdings in NewAmsterdam Pharma (NASDAQ:NAMS)

Two Sigma Investments LP lowered its stake in shares of NewAmsterdam Pharma (NASDAQ:NAMS - Free Report) by 61.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 89,589 shares of the company's stock after selling 140,508 shares during the quarter. Two Sigma Investments LP owned about 0.10% of NewAmsterdam Pharma worth $2,302,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NAMS. Deerfield Management Company L.P. Series C grew its holdings in NewAmsterdam Pharma by 378.4% in the 4th quarter. Deerfield Management Company L.P. Series C now owns 4,314,340 shares of the company's stock valued at $110,879,000 after buying an additional 3,412,590 shares during the last quarter. Jennison Associates LLC grew its stake in shares of NewAmsterdam Pharma by 291.9% in the fourth quarter. Jennison Associates LLC now owns 3,998,541 shares of the company's stock worth $102,763,000 after acquiring an additional 2,978,263 shares during the last quarter. Wellington Management Group LLP increased its position in NewAmsterdam Pharma by 2,410.4% during the fourth quarter. Wellington Management Group LLP now owns 2,315,123 shares of the company's stock worth $59,499,000 after acquiring an additional 2,222,900 shares during the period. Capital International Investors acquired a new position in NewAmsterdam Pharma during the 4th quarter valued at $53,007,000. Finally, Alliancebernstein L.P. acquired a new position in NewAmsterdam Pharma during the 4th quarter valued at $47,752,000. Institutional investors and hedge funds own 89.89% of the company's stock.

Insider Activity at NewAmsterdam Pharma

In related news, Director James N. Topper bought 1,135 shares of the business's stock in a transaction that occurred on Wednesday, March 26th. The shares were acquired at an average cost of $22.49 per share, with a total value of $25,526.15. Following the completion of the purchase, the director now directly owns 3,013,569 shares in the company, valued at $67,775,166.81. The trade was a 0.04% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 20.84% of the stock is owned by company insiders.

Analyst Ratings Changes

NAMS has been the topic of several research reports. Cantor Fitzgerald initiated coverage on NewAmsterdam Pharma in a research note on Wednesday. They set an "overweight" rating and a $42.00 price target on the stock. UBS Group set a $41.00 price objective on NewAmsterdam Pharma in a report on Monday, March 3rd. Scotiabank boosted their price objective on NewAmsterdam Pharma from $47.00 to $52.00 and gave the company a "sector outperform" rating in a research report on Thursday, February 27th. Wall Street Zen raised NewAmsterdam Pharma from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. Finally, Needham & Company LLC decreased their price target on shares of NewAmsterdam Pharma from $42.00 to $40.00 and set a "buy" rating on the stock in a research note on Thursday, May 8th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, NewAmsterdam Pharma currently has a consensus rating of "Moderate Buy" and an average target price of $42.86.

NewAmsterdam Pharma Price Performance

NASDAQ:NAMS traded up $0.70 during trading hours on Wednesday, reaching $19.39. 1,306,366 shares of the company were exchanged, compared to its average volume of 653,808. The company has a market capitalization of $2.18 billion, a P/E ratio of -10.31 and a beta of 0.01. The business has a 50 day moving average of $17.76 and a 200 day moving average of $20.91. NewAmsterdam Pharma has a 1-year low of $14.06 and a 1-year high of $27.29.

NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report) last released 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 business had revenue of $2.98 million during the quarter, compared to analysts' expectations of $1.46 million. As a group, equities research analysts anticipate that NewAmsterdam Pharma will post -1.75 earnings per share for the current fiscal year.

NewAmsterdam Pharma Profile

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.