80,579 Shares in NewAmsterdam Pharma (NASDAQ:NAMS) Bought by Fred Alger Management LLC

Fred Alger Management LLC purchased a new stake in shares of NewAmsterdam Pharma (NASDAQ:NAMS - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 80,579 shares of the company's stock, valued at approximately $2,071,000. Fred Alger Management LLC owned about 0.09% of NewAmsterdam Pharma at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NAMS. JPMorgan Chase & Co. raised its holdings in NewAmsterdam Pharma by 176.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 22,351 shares of the company's stock valued at $371,000 after acquiring an additional 14,280 shares during the period. Legal & General Group Plc increased its stake in shares of NewAmsterdam Pharma by 24.8% during the fourth quarter. Legal & General Group Plc now owns 22,946 shares of the company's stock worth $590,000 after purchasing an additional 4,556 shares during the period. American Century Companies Inc. bought a new stake in NewAmsterdam Pharma in the 4th quarter valued at $8,907,000. Swiss National Bank grew its holdings in NewAmsterdam Pharma by 105.1% in the 4th quarter. Swiss National Bank now owns 72,000 shares of the company's stock valued at $1,850,000 after buying an additional 36,900 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in NewAmsterdam Pharma by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 86,322 shares of the company's stock worth $1,433,000 after buying an additional 1,399 shares during the period. 89.89% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on NAMS. UBS Group set a $41.00 target price on shares of NewAmsterdam Pharma in a research report on Monday, March 3rd. Royal Bank of Canada reiterated an "outperform" rating and issued a $40.00 price target on shares of NewAmsterdam Pharma in a research report on Friday, January 24th. Needham & Company LLC reduced their price target on NewAmsterdam Pharma from $42.00 to $40.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. HC Wainwright reiterated a "buy" rating and set a $48.00 target price on shares of NewAmsterdam Pharma in a research report on Tuesday, January 14th. Finally, Scotiabank increased their price objective on shares of NewAmsterdam Pharma from $47.00 to $52.00 and gave the stock a "sector outperform" rating in a research note on Thursday, February 27th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, NewAmsterdam Pharma has an average rating of "Buy" and an average target price of $43.00.

Insider Buying and Selling

In other news, CAO Louise Frederika Kooij sold 150,000 shares of the company's stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $20.37, for a total value of $3,055,500.00. Following the completion of the transaction, the chief accounting officer now owns 15,000 shares of the company's stock, valued at $305,550. This represents a 90.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director James N. Topper acquired 4,005 shares of the company's stock in a transaction that occurred on Tuesday, March 4th. The stock was acquired at an average price of $21.02 per share, with a total value of $84,185.10. Following the acquisition, the director now owns 3,012,434 shares in the company, valued at $63,321,362.68. The trade was a 0.13% increase in their ownership of the stock. The disclosure for this purchase can be found here. 19.50% of the stock is owned by corporate insiders.

NewAmsterdam Pharma Price Performance

Shares of NAMS stock traded down $0.47 on Tuesday, hitting $18.75. 654,731 shares of the company's stock were exchanged, compared to its average volume of 624,382. The company has a 50 day moving average of $19.45 and a 200 day moving average of $21.26. The stock has a market cap of $2.06 billion, a P/E ratio of -9.97 and a beta of 0.01. NewAmsterdam Pharma has a 12 month low of $14.06 and a 12 month high of $27.29.

NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported ($0.49) 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. Sell-side analysts predict that NewAmsterdam Pharma will post -1.75 EPS for the current fiscal 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.