Woodline Partners LP Purchases 11,615 Shares of NewAmsterdam Pharma Company N.V. $NAMS

Key Points

• Woodline Partners LP increased its holdings in NewAmsterdam Pharma Company N.V. by 0.5%, now owning approximately 2.22% of the company, valued at about $50 million.
• Several institutional investors, including Adage Capital Partners GP and Wellington Management Group, made significant purchases during the 1st quarter, contributing to a total institutional ownership of 89.89%.
• NewAmsterdam Pharma's recent earnings report revealed a surprise profit, with a reported earnings per share of ($0.15), exceeding estimates and reflecting strong quarterly revenue growth.

Woodline Partners LP lifted its stake in shares of NewAmsterdam Pharma Company N.V. (NASDAQ:NAMS - Free Report) by 0.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,442,397 shares of the company's stock after acquiring an additional 11,615 shares during the quarter. Woodline Partners LP owned about 2.22% of NewAmsterdam Pharma worth $49,996,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Frazier Life Sciences Management L.P. increased its stake in shares of NewAmsterdam Pharma by 1.3% during the first quarter. Frazier Life Sciences Management L.P. now owns 16,116,418 shares of the company's stock valued at $329,903,000 after acquiring an additional 200,000 shares during the period. RA Capital Management L.P. grew its position in NewAmsterdam Pharma by 14.6% in the first quarter. RA Capital Management L.P. now owns 10,138,938 shares of the company's stock worth $207,544,000 after buying an additional 1,293,938 shares during the last quarter. Wellington Management Group LLP grew its position in NewAmsterdam Pharma by 53.0% in the first quarter. Wellington Management Group LLP now owns 3,541,975 shares of the company's stock worth $72,504,000 after buying an additional 1,226,852 shares during the last quarter. Alliancebernstein L.P. grew its position in NewAmsterdam Pharma by 20.7% in the first quarter. Alliancebernstein L.P. now owns 2,241,953 shares of the company's stock worth $45,893,000 after buying an additional 383,888 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. grew its position in NewAmsterdam Pharma by 85.8% in the first quarter. Adage Capital Partners GP L.L.C. now owns 1,950,650 shares of the company's stock worth $39,930,000 after buying an additional 900,650 shares during the last quarter. Institutional investors and hedge funds own 89.89% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Citigroup began coverage on shares of NewAmsterdam Pharma in a research note on Tuesday, June 17th. They issued a "buy" rating and a $42.00 price objective for the company. Stifel Nicolaus began coverage on shares of NewAmsterdam Pharma in a research report on Tuesday, June 10th. They set a "buy" rating and a $44.00 price objective on the stock. The Goldman Sachs Group began coverage on shares of NewAmsterdam Pharma in a research report on Thursday, July 17th. They set a "neutral" rating and a $27.00 price objective on the stock. Needham & Company LLC reiterated a "buy" rating and set a $40.00 price objective on shares of NewAmsterdam Pharma in a research report on Thursday, June 12th. Finally, Wall Street Zen upgraded shares of NewAmsterdam Pharma from a "sell" rating to a "hold" rating in a research report on Saturday, July 5th. Nine investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, NewAmsterdam Pharma presently has a consensus rating of "Moderate Buy" and a consensus price target of $41.55.

NewAmsterdam Pharma Price Performance

Shares of NAMS stock traded down $2.41 on Friday, hitting $24.19. The company's stock had a trading volume of 1,184,082 shares, compared to its average volume of 960,381. The stock has a market capitalization of $2.72 billion, a price-to-earnings ratio of -14.93 and a beta of -0.01. NewAmsterdam Pharma Company N.V. has a fifty-two week low of $14.06 and a fifty-two week high of $27.35. The firm's fifty day moving average price is $23.67 and its 200-day moving average price is $20.81.

NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported ($0.15) earnings per share for the quarter, topping analysts' consensus estimates of ($0.52) by $0.37. The firm had revenue of $19.15 million during the quarter, compared to analyst estimates of $1.44 million. NewAmsterdam Pharma had a negative net margin of 259.07% and a negative return on equity of 27.27%. Analysts predict that NewAmsterdam Pharma Company N.V. will post -1.75 EPS for the current fiscal year.

Insider Activity at NewAmsterdam Pharma

In other news, insider Johannes Jacob Piete Kastelein sold 50,000 shares of the company's stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $24.29, for a total transaction of $1,214,500.00. Following the completion of the transaction, the insider owned 119,302 shares of the company's stock, valued at approximately $2,897,845.58. This represents a 29.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Douglas F. Kling sold 100,000 shares of the company's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $19.29, for a total transaction of $1,929,000.00. Following the transaction, the chief operating officer directly owned 44,000 shares of the company's stock, valued at $848,760. This represents a 69.44% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders acquired 14,095 shares of company stock worth $279,621 and sold 424,954 shares worth $9,773,906. Insiders own 20.84% of the company's stock.

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.