JPMorgan Chase & Co. Sells 156,399 Shares of NewAmsterdam Pharma Company N.V. $NAMS

JPMorgan Chase & Co. lowered its position in shares of NewAmsterdam Pharma Company N.V. (NASDAQ:NAMS) by 10.7% in the third quarter, Holdings Channel reports. The firm owned 1,302,498 shares of the company’s stock after selling 156,399 shares during the period. JPMorgan Chase & Co.’s holdings in NewAmsterdam Pharma were worth $37,043,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of NAMS. Mather Group LLC. bought a new position in shares of NewAmsterdam Pharma during the third quarter worth $28,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in NewAmsterdam Pharma during the third quarter worth about $30,000. Wolverine Asset Management LLC acquired a new position in NewAmsterdam Pharma in the third quarter valued at about $69,000. The Manufacturers Life Insurance Company increased its holdings in shares of NewAmsterdam Pharma by 5.3% in the second quarter. The Manufacturers Life Insurance Company now owns 10,868 shares of the company’s stock worth $197,000 after acquiring an additional 544 shares in the last quarter. Finally, Teacher Retirement System of Texas acquired a new stake in shares of NewAmsterdam Pharma during the second quarter worth about $212,000. 89.89% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NAMS has been the subject of several research analyst reports. Wall Street Zen lowered NewAmsterdam Pharma from a “hold” rating to a “sell” rating in a research report on Saturday, February 21st. HC Wainwright upgraded shares of NewAmsterdam Pharma to a “strong-buy” rating in a report on Thursday, February 19th. Needham & Company LLC increased their price objective on shares of NewAmsterdam Pharma from $46.00 to $48.00 and gave the stock a “buy” rating in a research report on Wednesday, February 18th. Leerink Partners restated an “outperform” rating and set a $55.00 price objective on shares of NewAmsterdam Pharma in a report on Tuesday, January 6th. Finally, Guggenheim upped their target price on shares of NewAmsterdam Pharma from $41.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, February 19th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, NewAmsterdam Pharma presently has a consensus rating of “Moderate Buy” and an average target price of $46.55.

NewAmsterdam Pharma Trading Up 3.4%

NASDAQ NAMS opened at $35.46 on Friday. The firm has a market capitalization of $4.08 billion, a P/E ratio of -20.50 and a beta of 0.06. The firm’s fifty day moving average price is $34.06 and its two-hundred day moving average price is $32.95. NewAmsterdam Pharma Company N.V. has a 1 year low of $14.06 and a 1 year high of $42.00.

NewAmsterdam Pharma (NASDAQ:NAMS) last announced its quarterly earnings results on Wednesday, February 18th. The company reported ($0.63) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.23). The business had revenue of $0.03 million for the quarter, compared to analyst estimates of $0.92 million. NewAmsterdam Pharma had a negative return on equity of 26.67% and a negative net margin of 906.22%. On average, research analysts anticipate that NewAmsterdam Pharma Company N.V. will post -1.75 EPS for the current fiscal year.

Insider Buying and Selling at NewAmsterdam Pharma

In related news, CEO Michael H. Davidson sold 183,332 shares of the firm’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $33.71, for a total transaction of $6,180,121.72. Following the transaction, the chief executive officer directly owned 174,144 shares of the company’s stock, valued at approximately $5,870,394.24. This trade represents a 51.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Louise Frederika Kooij sold 75,117 shares of the stock in a transaction that occurred on Tuesday, December 23rd. The stock was sold at an average price of $36.21, for a total transaction of $2,719,986.57. Following the transaction, the chief accounting officer owned 15,000 shares in the company, valued at approximately $543,150. The trade was a 83.35% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 650,421 shares of company stock valued at $22,417,631 in the last three months. 20.84% of the stock is currently owned by company insiders.

NewAmsterdam Pharma Company 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.