Wellington Management Group LLP Reduces Stock Position in NewAmsterdam Pharma Company N.V. $NAMS

Key Points

• Wellington Management cut its NewAmsterdam Pharma stake by 95.7% in the second quarter, selling 4.9 million shares and retaining 218,749 shares worth approximately $7.4 million. Institutional investors still own 89.89% of the company.
• Company insiders sold 270,000 shares worth about $7.76 million over the past 90 days, including substantial reductions by an insider and the chief accounting officer.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $49.73 price target versus the stock’s recent $25.63 price. However, the company missed its latest EPS estimate, reporting a loss of $0.52 per share despite revenue exceeding expectations.

Wellington Management Group LLP decreased its stake in shares of NewAmsterdam Pharma Company N.V. (NASDAQ:NAMS - Free Report) by 95.7% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 218,749 shares of the company's stock after selling 4,897,069 shares during the quarter. Wellington Management Group LLP owned about 0.18% of NewAmsterdam Pharma worth $7,413,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NAMS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in NewAmsterdam Pharma in the 1st quarter valued at $610,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of NewAmsterdam Pharma by 13.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 288,134 shares of the company's stock worth $5,898,000 after acquiring an additional 34,563 shares during the period. Geode Capital Management LLC raised its holdings in shares of NewAmsterdam Pharma by 15.9% during the 2nd quarter. Geode Capital Management LLC now owns 99,457 shares of the company's stock worth $1,800,000 after acquiring an additional 13,629 shares during the period. Legal & General Group Plc boosted its position in shares of NewAmsterdam Pharma by 33.5% during the 2nd quarter. Legal & General Group Plc now owns 44,235 shares of the company's stock valued at $801,000 after acquiring an additional 11,106 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in shares of NewAmsterdam Pharma by 12.7% in the second quarter. Invesco Ltd. now owns 134,035 shares of the company's stock valued at $2,427,000 after purchasing an additional 15,101 shares during the period. Institutional investors and hedge funds own 89.89% of the company's stock.

Insiders Place Their Bets

In other news, insider Johannes Kastelein sold 125,000 shares of the company's stock in a transaction on Monday, August 24th. The stock was sold at an average price of $26.91, for a total transaction of $3,363,750.00. Following the sale, the insider owned 69,302 shares of the company's stock, valued at approximately $1,864,916.82. This represents a 64.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Louise Kooij sold 105,000 shares of the stock in a transaction on Monday, July 20th. The shares were sold at an average price of $30.34, for a total value of $3,185,700.00. Following the completion of the sale, the chief accounting officer owned 24,353 shares in the company, valued at approximately $738,870.02. The trade was a 81.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 270,000 shares of company stock worth $7,757,450 in the last ninety days. Corporate insiders own 12.74% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on NAMS shares. Jefferies Financial Group reaffirmed a "buy" rating and set a $45.00 target price on shares of NewAmsterdam Pharma in a research note on Monday, July 20th. HC Wainwright restated a "buy" rating and set a $52.00 price target on shares of NewAmsterdam Pharma in a report on Tuesday. Weiss Ratings reissued a "sell (d-)" rating on shares of NewAmsterdam Pharma in a research note on Friday, July 17th. 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 objective for the company. 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 for the company in a research note on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, NewAmsterdam Pharma currently has a consensus rating of "Moderate Buy" and a consensus price target of $49.73.

NewAmsterdam Pharma Price Performance

Shares of NewAmsterdam Pharma stock opened at $25.63 on Wednesday. The stock has a market capitalization of $3.06 billion, a price-to-earnings ratio of -11.87 and a beta of 0.09. The business has a 50-day moving average of $29.34 and a 200 day moving average of $31.45. NewAmsterdam Pharma Company N.V. has a 12 month low of $23.05 and a 12 month high of $42.21.

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

NewAmsterdam Pharma Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.