Geode Capital Management LLC Raises Holdings in NewAmsterdam Pharma (NASDAQ:NAMS)

Geode Capital Management LLC raised its position in shares of NewAmsterdam Pharma (NASDAQ:NAMS) by 2.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 88,544 shares of the company’s stock after acquiring an additional 2,222 shares during the period. Geode Capital Management LLC owned approximately 0.10% of NewAmsterdam Pharma worth $2,276,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp increased its position in shares of NewAmsterdam Pharma by 168.7% in the third quarter. State Street Corp now owns 37,915 shares of the company’s stock worth $629,000 after acquiring an additional 23,805 shares in the last quarter. Barclays PLC increased its holdings in NewAmsterdam Pharma by 1,813.4% in the 3rd quarter. Barclays PLC now owns 7,596 shares of the company’s stock valued at $126,000 after purchasing an additional 7,199 shares in the last quarter. JPMorgan Chase & Co. raised its position in NewAmsterdam Pharma by 176.9% in the third quarter. JPMorgan Chase & Co. now owns 22,351 shares of the company’s stock valued at $371,000 after purchasing an additional 14,280 shares during the period. HB Wealth Management LLC purchased a new position in NewAmsterdam Pharma in the fourth quarter valued at about $224,000. Finally, China Universal Asset Management Co. Ltd. acquired a new position in shares of NewAmsterdam Pharma during the fourth quarter worth about $503,000. 89.89% of the stock is currently owned by institutional investors and hedge funds.

NewAmsterdam Pharma Price Performance

NASDAQ NAMS opened at $18.55 on Wednesday. The company has a market capitalization of $2.04 billion, a price-to-earnings ratio of -7.13 and a beta of -0.01. NewAmsterdam Pharma has a 12 month low of $14.06 and a 12 month high of $27.29. The company’s fifty day moving average price is $19.57 and its two-hundred day moving average price is $21.22.

NewAmsterdam Pharma (NASDAQ:NAMS) last posted its quarterly earnings results on Wednesday, February 26th. The company reported ($0.95) EPS for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.47). The company had revenue of $12.77 million during the quarter, compared to analyst estimates of $3.30 million. As a group, analysts anticipate that NewAmsterdam Pharma will post -1.75 EPS for the current year.

Insider Activity

In other NewAmsterdam Pharma news, Director James N. Topper acquired 4,005 shares of the firm’s stock in a transaction on Tuesday, March 4th. The stock was purchased 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 directly owns 3,012,434 shares in the company, valued at $63,321,362.68. This trade represents a 0.13 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Louise Frederika Kooij sold 150,000 shares of the business’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $20.37, for a total transaction of $3,055,500.00. Following the sale, the chief accounting officer now owns 15,000 shares of the company’s stock, valued at approximately $305,550. The trade was a 90.91 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 19.50% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Scotiabank increased their target price on NewAmsterdam Pharma from $47.00 to $52.00 and gave the company a “sector outperform” rating in a research note on Thursday, February 27th. Needham & Company LLC reiterated a “buy” rating and set a $42.00 price objective on shares of NewAmsterdam Pharma in a research note on Tuesday, April 8th. Royal Bank of Canada reissued an “outperform” rating and set a $40.00 target price on shares of NewAmsterdam Pharma in a research report on Friday, January 24th. UBS Group set a $41.00 price target on shares of NewAmsterdam Pharma in a research note on Monday, March 3rd. Finally, HC Wainwright reissued a “buy” rating and issued a $48.00 price objective on shares of NewAmsterdam Pharma in a research report on Tuesday, January 14th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $43.33.

NewAmsterdam Pharma 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.