Woodline Partners LP Boosts Stake in NewAmsterdam Pharma (NASDAQ:NAMS)

Woodline Partners LP grew its holdings in shares of NewAmsterdam Pharma (NASDAQ:NAMS) by 108.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,430,782 shares of the company’s stock after purchasing an additional 1,266,105 shares during the quarter. Woodline Partners LP’s holdings in NewAmsterdam Pharma were worth $62,471,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its stake in shares of NewAmsterdam Pharma by 176.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 22,351 shares of the company’s stock worth $371,000 after purchasing an additional 14,280 shares during the period. Legal & General Group Plc lifted its stake in shares of NewAmsterdam Pharma by 24.8% during the 4th 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. purchased a new position in shares of NewAmsterdam Pharma during the 4th quarter worth $8,907,000. Swiss National Bank lifted its stake in shares of NewAmsterdam Pharma by 105.1% during the 4th quarter. Swiss National Bank now owns 72,000 shares of the company’s stock worth $1,850,000 after purchasing an additional 36,900 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of NewAmsterdam Pharma during the 4th quarter worth $80,000. Hedge funds and other institutional investors own 89.89% of the company’s stock.

NewAmsterdam Pharma Stock Up 0.8%

NAMS stock opened at $19.03 on Tuesday. The company has a market cap of $2.09 billion, a price-to-earnings ratio of -10.12 and a beta of 0.01. The business has a fifty day simple moving average of $18.99 and a 200-day simple moving average of $21.28. NewAmsterdam Pharma has a 52 week low of $14.06 and a 52 week high of $27.29.

NewAmsterdam Pharma (NASDAQ:NAMS) last announced its quarterly earnings results 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 company had revenue of $2.98 million during the quarter, compared to analysts’ expectations of $1.46 million. As a group, analysts expect that NewAmsterdam Pharma will post -1.75 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on NAMS shares. Scotiabank increased their price target on NewAmsterdam Pharma from $47.00 to $52.00 and gave the stock a “sector outperform” rating in a research note on Thursday, February 27th. UBS Group set a $41.00 price objective on NewAmsterdam Pharma in a report on Monday, March 3rd. Royal Bank of Canada restated an “outperform” rating and set a $40.00 price objective on shares of NewAmsterdam Pharma in a report on Friday, January 24th. Finally, Needham & Company LLC dropped their price objective on NewAmsterdam Pharma from $42.00 to $40.00 and set a “buy” rating for the company in a report on Thursday, May 8th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, NewAmsterdam Pharma has an average rating of “Buy” and a consensus price target of $43.00.

Insider Activity at NewAmsterdam Pharma

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

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.