NewAmsterdam Pharma (NASDAQ:NAMS) Holdings Lifted by Frazier Life Sciences Management L.P.

Frazier Life Sciences Management L.P. raised its stake in NewAmsterdam Pharma (NASDAQ:NAMS) by 23.8% during the fourth quarter, Holdings Channel reports. The fund owned 15,916,418 shares of the company’s stock after buying an additional 3,061,224 shares during the period. NewAmsterdam Pharma makes up approximately 17.0% of Frazier Life Sciences Management L.P.’s portfolio, making the stock its largest position. Frazier Life Sciences Management L.P. owned 0.17% of NewAmsterdam Pharma worth $409,052,000 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. Deerfield Management Company L.P. Series C grew its stake in NewAmsterdam Pharma by 378.4% in the 4th quarter. Deerfield Management Company L.P. Series C now owns 4,314,340 shares of the company’s stock worth $110,879,000 after buying an additional 3,412,590 shares in the last quarter. Jennison Associates LLC raised its holdings in NewAmsterdam Pharma by 291.9% in the 4th quarter. Jennison Associates LLC now owns 3,998,541 shares of the company’s stock worth $102,763,000 after purchasing an additional 2,978,263 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of NewAmsterdam Pharma by 2,410.4% in the 4th quarter. Wellington Management Group LLP now owns 2,315,123 shares of the company’s stock worth $59,499,000 after acquiring an additional 2,222,900 shares in the last quarter. Capital International Investors bought a new stake in NewAmsterdam Pharma during the 4th quarter valued at about $53,007,000. Finally, Alliancebernstein L.P. bought a new stake in NewAmsterdam Pharma during the 4th quarter valued at about $47,752,000. 89.89% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on NAMS shares. UBS Group set a $41.00 price objective on shares of NewAmsterdam Pharma in a report on Monday, March 3rd. Needham & Company LLC reduced their price target on shares of NewAmsterdam Pharma from $42.00 to $40.00 and set a “buy” rating on the stock in a report on Thursday, May 8th. Scotiabank lifted their price target on shares of NewAmsterdam Pharma from $47.00 to $52.00 and gave the company a “sector outperform” rating in a report on Thursday, February 27th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $40.00 price target on shares of NewAmsterdam Pharma in a report on Friday, January 24th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $43.00.

NewAmsterdam Pharma Price Performance

NewAmsterdam Pharma stock opened at $19.35 on Wednesday. NewAmsterdam Pharma has a 1 year low of $14.06 and a 1 year high of $27.29. The stock has a market cap of $2.12 billion, a price-to-earnings ratio of -10.29 and a beta of 0.01. The firm has a 50-day moving average of $18.90 and a two-hundred day moving average of $21.26.

NewAmsterdam Pharma (NASDAQ:NAMS) last released its earnings results on Thursday, May 8th. The company reported ($0.49) earnings per share for the quarter, missing the consensus estimate of ($0.45) by ($0.04). The business had revenue of $2.98 million for the quarter, compared to the consensus estimate of $1.46 million. Research analysts expect that NewAmsterdam Pharma will post -1.75 earnings per share for the current year.

Insiders Place Their Bets

In other news, CAO Louise Frederika Kooij sold 150,000 shares of the stock in a transaction dated Tuesday, March 4th. The shares were 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 $305,550. This represents a 90.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director James N. Topper bought 4,005 shares of NewAmsterdam Pharma stock in a transaction dated 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 completion of the transaction, the director now directly owns 3,012,434 shares of the company’s stock, valued at approximately $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. 20.84% of the stock is currently owned by company 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.