Wellington Management Group LLP Has $59.50 Million Stock Position in NewAmsterdam Pharma (NASDAQ:NAMS)

Wellington Management Group LLP raised its holdings in shares of NewAmsterdam Pharma (NASDAQ:NAMS - Free Report) by 2,410.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,315,123 shares of the company's stock after buying an additional 2,222,900 shares during the quarter. Wellington Management Group LLP owned about 2.11% of NewAmsterdam Pharma worth $59,499,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of NAMS. JPMorgan Chase & Co. lifted its holdings in shares of NewAmsterdam Pharma by 176.9% during the third quarter. JPMorgan Chase & Co. now owns 22,351 shares of the company's stock worth $371,000 after buying an additional 14,280 shares during the last quarter. China Universal Asset Management Co. Ltd. acquired a new position in shares of NewAmsterdam Pharma during the fourth quarter worth approximately $503,000. Jennison Associates LLC raised 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 valued at $102,763,000 after purchasing an additional 2,978,263 shares in the last quarter. abrdn plc raised its stake in shares of NewAmsterdam Pharma by 38.7% in the fourth quarter. abrdn plc now owns 179,060 shares of the company's stock valued at $4,602,000 after purchasing an additional 50,000 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in NewAmsterdam Pharma in the fourth quarter worth $80,000. 89.89% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. UBS Group set a $41.00 price objective on shares of NewAmsterdam Pharma in a research note on Monday, March 3rd. Needham & Company LLC dropped their price target on shares of NewAmsterdam Pharma from $42.00 to $40.00 and set a "buy" rating for the company in a research report on Thursday, May 8th. Scotiabank lifted their price objective on NewAmsterdam Pharma from $47.00 to $52.00 and gave the company a "sector outperform" rating in a report on Thursday, February 27th. Finally, Wall Street Zen raised NewAmsterdam Pharma from a "sell" rating to a "hold" rating in a report on Friday. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $43.00.

Insider Buying and Selling

In related news, Director James N. Topper bought 4,005 shares of the company's stock in a transaction on Tuesday, March 4th. The stock was bought at an average cost of $21.02 per share, with a total value of $84,185.10. Following the completion of the purchase, the director now owns 3,012,434 shares in the company, valued at approximately $63,321,362.68. The trade was a 0.13% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Louise Frederika Kooij sold 150,000 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $20.37, for a total transaction of $3,055,500.00. Following the sale, the chief accounting officer now directly owns 15,000 shares in the company, valued at $305,550. This trade represents a 90.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. 20.84% of the stock is owned by corporate insiders.

NewAmsterdam Pharma Price Performance

Shares of NASDAQ:NAMS traded up $0.48 during trading on Friday, reaching $18.11. The stock had a trading volume of 1,010,444 shares, compared to its average volume of 646,091. The stock has a market capitalization of $1.99 billion, a PE ratio of -9.63 and a beta of 0.01. NewAmsterdam Pharma has a 52 week low of $14.06 and a 52 week high of $27.29. The business's 50-day moving average price is $17.96 and its 200 day moving average price is $21.03.

NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.49) earnings per share (EPS) 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. Analysts forecast that NewAmsterdam Pharma will post -1.75 EPS for the current year.

NewAmsterdam Pharma Company 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.