Squarepoint Ops LLC Purchases 49,005 Shares of NewAmsterdam Pharma Company N.V. $NAMS

Key Points

• Squarepoint Ops LLC more than doubled its NewAmsterdam Pharma stake, purchasing 49,005 additional shares in the second quarter to own 92,026 shares valued at approximately $3.1 million. Institutional investors collectively hold 89.89% of the company.
• Analysts remain broadly positive, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $49.73, despite ratings ranging from “Strong Buy” to “Sell.”
• NAMS shares opened at $22.80, near their 12-month low of $21.23, while the company reported a quarterly EPS loss of $0.52 and negative profitability metrics. Insiders also sold 271,600 shares worth about $7.8 million over the last quarter.

Squarepoint Ops LLC boosted its position in shares of NewAmsterdam Pharma Company N.V. (NASDAQ:NAMS - Free Report) by 113.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 92,026 shares of the company's stock after acquiring an additional 49,005 shares during the period. Squarepoint Ops LLC owned 0.08% of NewAmsterdam Pharma worth $3,119,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of NAMS. Frazier Life Sciences Management L.P. boosted its holdings in NewAmsterdam Pharma by 6.8% in the 2nd quarter. Frazier Life Sciences Management L.P. now owns 18,088,902 shares of the company's stock valued at $613,033,000 after purchasing an additional 1,145,128 shares during the period. Capital World Investors increased its holdings in shares of NewAmsterdam Pharma by 1.6% in the fourth quarter. Capital World Investors now owns 9,984,000 shares of the company's stock worth $350,239,000 after purchasing an additional 161,289 shares during the period. Wellington Management Group LLP raised 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 buying an additional 697,129 shares in the last quarter. Adage Capital Partners GP L.L.C. raised its position in shares of 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 worth $54,566,000 after buying an additional 1,062,359 shares in the last quarter. Finally, Polar Capital Holdings Plc boosted its stake in NewAmsterdam Pharma by 15.6% during the third quarter. Polar Capital Holdings Plc now owns 2,911,634 shares of the company's stock valued at $82,807,000 after buying an additional 393,855 shares during the period. Institutional investors own 89.89% of the company's stock.

Wall Street Analyst Weigh In

NAMS has been the subject of several recent analyst reports. Jefferies Financial Group restated a "buy" rating and set a $45.00 target price on shares of NewAmsterdam Pharma in a research report on Monday, July 20th. BMO Capital Markets started coverage on NewAmsterdam Pharma in a research report on Monday, July 20th. They set an "outperform" rating and a $58.00 price target for the company. Weiss Ratings reissued a "sell (d-)" rating on shares of NewAmsterdam Pharma in a report on Friday, July 17th. HC Wainwright restated a "buy" rating and issued a $52.00 price objective on shares of NewAmsterdam Pharma in a research report on Tuesday, September 8th. Finally, Royal Bank Of Canada lowered their target price on shares of NewAmsterdam Pharma from $51.00 to $50.00 and set an "outperform" rating on the stock in a research note on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $49.73.

Insiders Place Their Bets

In other NewAmsterdam Pharma news, CAO Louise Kooij sold 105,000 shares of the stock in a transaction that occurred on Monday, July 20th. The shares were sold at an average price of $30.34, for a total transaction of $3,185,700.00. Following the transaction, the chief accounting officer directly owned 24,353 shares in the company, valued at $738,870.02. This trade represents a 81.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Johannes Kastelein sold 125,000 shares of the stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $26.91, for a total transaction of $3,363,750.00. Following the transaction, the insider owned 69,302 shares in the company, valued at $1,864,916.82. The trade was a 64.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 271,600 shares of company stock valued at $7,797,962 over the last quarter. 12.74% of the stock is owned by corporate insiders.

NewAmsterdam Pharma Price Performance

Shares of NAMS stock opened at $22.80 on Monday. The business has a 50-day moving average price of $28.60 and a two-hundred day moving average price of $31.18. NewAmsterdam Pharma Company N.V. has a 12-month low of $21.23 and a 12-month high of $42.21. The firm has a market cap of $2.73 billion, a P/E ratio of -10.56 and a beta of 0.09.

NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($0.52) EPS for the quarter, missing the consensus estimate of ($0.48) by ($0.04). The firm had revenue of $3.70 million for the quarter, compared to the consensus estimate of $2.83 million. NewAmsterdam Pharma had a negative net margin of 3,644.21% and a negative return on equity of 34.81%. As a group, research analysts expect that NewAmsterdam Pharma Company N.V. will post -1.82 EPS for the current fiscal year.

About NewAmsterdam Pharma

NewAmsterdam Pharma Company N.V. is a clinical-stage biopharmaceutical company focused on developing therapies for cardiometabolic diseases, particularly conditions involving elevated cholesterol and residual cardiovascular risk. The company's lead product candidate is obicetrapib, an oral, low-dose cholesteryl ester transfer protein (CETP) inhibitor designed to reduce low-density lipoprotein cholesterol and improve other lipid parameters.

Obicetrapib has been evaluated in several clinical studies, including the Phase 3 BROADWAY trial, for patients whose cholesterol levels remain inadequately controlled despite the use of existing lipid-lowering treatments.

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