Readystate Asset Management LP Cuts Stock Holdings in NewAmsterdam Pharma Company N.V. $NAMS

Readystate Asset Management LP lowered its stake in NewAmsterdam Pharma Company N.V. (NASDAQ:NAMS) by 85.1% during the 3rd quarter, Holdings Channel reports. The firm owned 34,353 shares of the company’s stock after selling 196,841 shares during the quarter. Readystate Asset Management LP’s holdings in NewAmsterdam Pharma were worth $977,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Jennison Associates LLC raised its holdings in shares of NewAmsterdam Pharma by 42.5% during the 3rd quarter. Jennison Associates LLC now owns 4,198,554 shares of the company’s stock worth $119,407,000 after acquiring an additional 1,252,451 shares in the last quarter. Atle Fund Management AB grew its holdings in shares of NewAmsterdam Pharma by 23.2% in the third quarter. Atle Fund Management AB now owns 193,625 shares of the company’s stock valued at $5,507,000 after purchasing an additional 36,402 shares in the last quarter. Keybank National Association OH bought a new stake in NewAmsterdam Pharma in the third quarter worth $455,000. Franklin Resources Inc. raised its stake in NewAmsterdam Pharma by 30.6% during the second quarter. Franklin Resources Inc. now owns 334,212 shares of the company’s stock valued at $6,053,000 after purchasing an additional 78,300 shares in the last quarter. Finally, Frazier Life Sciences Management L.P. lifted its position in NewAmsterdam Pharma by 3.0% during the second quarter. Frazier Life Sciences Management L.P. now owns 16,607,074 shares of the company’s stock valued at $300,754,000 after purchasing an additional 490,656 shares during the last quarter. Institutional investors own 89.89% of the company’s stock.

NewAmsterdam Pharma Price Performance

Shares of NASDAQ NAMS opened at $35.76 on Thursday. NewAmsterdam Pharma Company N.V. has a 1 year low of $14.06 and a 1 year high of $42.00. The firm has a 50-day simple moving average of $34.03 and a two-hundred day simple moving average of $32.43. The company has a market cap of $4.05 billion, a P/E ratio of -17.44 and a beta of 0.06.

NewAmsterdam Pharma (NASDAQ:NAMS) last issued its quarterly earnings results on Wednesday, February 25th. The company reported ($0.63) earnings per share for the quarter, missing the consensus estimate of ($0.40) by ($0.23). NewAmsterdam Pharma had a negative return on equity of 28.30% and a negative net margin of 627.59%.The business had revenue of $0.03 million during the quarter. As a group, equities research analysts expect that NewAmsterdam Pharma Company N.V. will post -1.75 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Leerink Partners restated an “outperform” rating and issued a $55.00 target price on shares of NewAmsterdam Pharma in a report on Tuesday, January 6th. Royal Bank Of Canada lifted their price target on NewAmsterdam Pharma from $44.00 to $47.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 21st. Weiss Ratings reissued a “sell (d-)” rating on shares of NewAmsterdam Pharma in a research note on Thursday, January 22nd. The Goldman Sachs Group raised their price objective on NewAmsterdam Pharma from $30.00 to $37.00 and gave the company a “neutral” rating in a research note on Tuesday, December 2nd. Finally, Needham & Company LLC lifted their target price on NewAmsterdam Pharma from $46.00 to $48.00 and gave the stock a “buy” rating in a report on Wednesday. Nine investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, NewAmsterdam Pharma presently has an average rating of “Moderate Buy” and a consensus target price of $47.18.

Insiders Place Their Bets

In other NewAmsterdam Pharma news, CAO Louise Frederika Kooij sold 32,612 shares of the business’s stock in a transaction dated Wednesday, January 28th. The shares were sold at an average price of $31.80, for a total value of $1,037,061.60. Following the completion of the sale, the chief accounting officer directly owned 24,353 shares of the company’s stock, valued at $774,425.40. The trade was a 57.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Johannes Jacob Piete Kastelein sold 6,000 shares of the company’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $33.25, for a total transaction of $199,500.00. Following the completion of the transaction, the insider owned 73,481 shares in the company, valued at $2,443,243.25. This represents a 7.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 298,647 shares of company stock worth $10,236,050. Insiders own 20.84% of the company’s stock.

NewAmsterdam Pharma 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.