Pictet Asset Management Holding SA Lowers Position in NewAmsterdam Pharma Company N.V. $NAMS

Key Points

• 42.3% — Pictet Asset Management trimmed its stake in NewAmsterdam Pharma by 42.3% in Q4, selling 546,028 shares and leaving it with 746,122 shares (about 0.66%) valued at roughly $26.17 million.
• Heavy insider selling — CEO Michael H. Davidson sold 443,707 shares and insiders have sold a total of 1,168,286 shares (~$38.2 million) in the past 90 days, reducing insider ownership to 20.84%.
• Mixed fundamentals and analyst view — NewAmsterdam reported an EPS loss of ($0.63) that missed estimates and very negative margins, but analysts on average rate the stock a "Moderate Buy" with an average target of $48 (some targets up to $57).

Pictet Asset Management Holding SA trimmed its holdings in shares of NewAmsterdam Pharma Company N.V. (NASDAQ:NAMS - Free Report) by 42.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 746,122 shares of the company's stock after selling 546,028 shares during the quarter. Pictet Asset Management Holding SA owned about 0.66% of NewAmsterdam Pharma worth $26,174,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Capital World Investors raised its holdings in shares of NewAmsterdam Pharma by 17.1% in the 3rd quarter. Capital World Investors now owns 9,822,711 shares of the company's stock valued at $279,358,000 after acquiring an additional 1,434,986 shares in the last quarter. Jennison Associates LLC grew its holdings in shares of NewAmsterdam Pharma by 42.5% during the third quarter. Jennison Associates LLC now owns 4,198,554 shares of the company's stock worth $119,407,000 after purchasing an additional 1,252,451 shares in the last quarter. Wellington Management Group LLP increased its position in shares of NewAmsterdam Pharma by 21.0% in the third quarter. Wellington Management Group LLP now owns 4,020,126 shares of the company's stock worth $114,332,000 after purchasing an additional 697,129 shares during the last quarter. Adage Capital Partners GP L.L.C. raised its stake in NewAmsterdam Pharma by 54.5% in the second quarter. Adage Capital Partners GP L.L.C. now owns 3,013,009 shares of the company's stock valued at $54,566,000 after purchasing an additional 1,062,359 shares in the last quarter. Finally, Polar Capital Holdings Plc raised its stake in NewAmsterdam Pharma by 15.6% in the third quarter. Polar Capital Holdings Plc now owns 2,911,634 shares of the company's stock valued at $82,807,000 after purchasing an additional 393,855 shares in the last quarter. 89.89% of the stock is currently owned by institutional investors.

Insider Activity at NewAmsterdam Pharma

In related news, insider Johannes Jacob Piete Kastelein sold 104,467 shares of the company's stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $30.30, for a total value of $3,165,350.10. Following the transaction, the insider owned 69,302 shares in the company, valued at $2,099,850.60. The trade was a 60.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Michael H. Davidson sold 443,707 shares of the firm's stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $33.25, for a total transaction of $14,753,257.75. Following the sale, the chief executive officer owned 174,144 shares of the company's stock, valued at approximately $5,790,288. This represents a 71.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 1,168,286 shares of company stock valued at $38,211,967 in the last 90 days. Corporate insiders own 20.84% of the company's stock.

NewAmsterdam Pharma Stock Performance

NewAmsterdam Pharma stock opened at $28.56 on Friday. The stock has a market cap of $3.28 billion, a price-to-earnings ratio of -16.51 and a beta of 0.13. The stock's 50 day simple moving average is $32.01 and its two-hundred day simple moving average is $34.41. NewAmsterdam Pharma Company N.V. has a fifty-two week low of $16.78 and a fifty-two week high of $42.00.

NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report) last posted its quarterly earnings data on Wednesday, February 18th. The company reported ($0.63) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.40) by ($0.23). The firm had revenue of $0.19 million during the quarter, compared to the consensus estimate of $0.92 million. NewAmsterdam Pharma had a negative return on equity of 26.67% and a negative net margin of 906.22%. On average, analysts predict that NewAmsterdam Pharma Company N.V. will post -1.89 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently issued reports on NAMS. Royal Bank Of Canada upped their target price on shares of NewAmsterdam Pharma from $44.00 to $47.00 and gave the stock an "outperform" rating in a research report on Wednesday, January 21st. Weiss Ratings restated a "sell (d-)" rating on shares of NewAmsterdam Pharma in a report on Tuesday, April 21st. Truist Financial started coverage on NewAmsterdam Pharma in a research note on Wednesday, March 18th. They set a "buy" rating and a $57.00 target price on the stock. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of NewAmsterdam Pharma in a research note on Thursday, February 19th. Finally, Wall Street Zen cut shares of NewAmsterdam Pharma from a "hold" rating to a "sell" rating in a report on Saturday, February 21st. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, NewAmsterdam Pharma currently has an average rating of "Moderate Buy" and an average target price of $48.00.

NewAmsterdam Pharma Profile

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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