NewAmsterdam Pharma (NASDAQ:NAMS) Position Cut by Two Sigma Investments LP

Two Sigma Investments LP trimmed its holdings in 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 institutional investor 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 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Deerfield Management Company L.P. Series C grew its position in shares of 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 NewAmsterdam Pharma by 291.9% during the 4th quarter. Jennison Associates LLC now owns 3,998,541 shares of the company's stock worth $102,763,000 after buying 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 buying an additional 2,222,900 shares during the period. Capital International Investors purchased a new stake in NewAmsterdam Pharma in the fourth quarter valued at approximately $53,007,000. Finally, Alliancebernstein L.P. purchased a new stake in NewAmsterdam Pharma in the fourth quarter valued at approximately $47,752,000. 89.89% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at NewAmsterdam Pharma

In other NewAmsterdam Pharma news, Director James N. Topper bought 1,135 shares of the business's stock in a transaction on Wednesday, March 26th. The shares were purchased 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 20.84% of the stock is currently owned by corporate insiders.

NewAmsterdam Pharma Trading Up 3.9%

NAMS traded up $0.74 during trading on Wednesday, hitting $19.43. 163,735 shares of the company's stock were exchanged, compared to its average volume of 647,044. NewAmsterdam Pharma has a 1 year low of $14.06 and a 1 year high of $27.29. The stock has a 50 day moving average price of $17.81 and a 200 day moving average price of $20.92. The firm has a market cap of $2.18 billion, a P/E ratio of -10.33 and a beta of 0.01.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Needham & Company LLC cut their target price on shares of NewAmsterdam Pharma from $42.00 to $40.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. Scotiabank upped their target price on shares of NewAmsterdam Pharma from $47.00 to $52.00 and gave the company a "sector outperform" rating in a report on Thursday, February 27th. UBS Group set a $41.00 target price on shares of NewAmsterdam Pharma in a research note on Monday, March 3rd. Wall Street Zen upgraded NewAmsterdam Pharma from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. Finally, Cantor Fitzgerald began coverage on NewAmsterdam Pharma in a research report on Wednesday. They set an "overweight" rating and a $42.00 price objective for the company. One analyst has rated the stock with a hold rating and six have given 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.

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.