Zurcher Kantonalbank Zurich Cantonalbank Increases Stake in NewAmsterdam Pharma Company N.V. (NASDAQ:NAMS)

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of NewAmsterdam Pharma Company N.V. (NASDAQ:NAMS) by 130.4% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,990 shares of the company’s stock after buying an additional 3,390 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in NewAmsterdam Pharma were worth $123,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. raised its holdings in NewAmsterdam Pharma by 19.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,675 shares of the company’s stock worth $80,000 after purchasing an additional 596 shares in the last quarter. Legal & General Group Plc grew its position in shares of NewAmsterdam Pharma by 24.8% in the 4th quarter. Legal & General Group Plc now owns 22,946 shares of the company’s stock worth $590,000 after buying an additional 4,556 shares during the period. Northern Trust Corp purchased a new stake in NewAmsterdam Pharma during the 4th quarter valued at about $556,000. Barclays PLC grew its position in NewAmsterdam Pharma by 120.0% during the 4th quarter. Barclays PLC now owns 16,713 shares of the company’s stock valued at $429,000 after purchasing an additional 9,117 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in shares of NewAmsterdam Pharma during the 4th quarter valued at about $784,000. 89.89% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, COO Douglas F. Kling sold 100,000 shares of the stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $19.29, for a total transaction of $1,929,000.00. Following the transaction, the chief operating officer owned 44,000 shares in the company, valued at $848,760. This trade represents a 69.44% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director James N. Topper acquired 8,584 shares of NewAmsterdam Pharma stock in a transaction that occurred on Monday, June 16th. The stock was purchased at an average cost of $19.50 per share, with a total value of $167,388.00. Following the completion of the purchase, the director owned 3,022,153 shares in the company, valued at $58,931,983.50. The trade was a 0.28% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 12,364 shares of company stock worth $236,839 and have sold 198,612 shares worth $4,025,887. Company insiders own 20.84% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on NAMS. Cantor Fitzgerald started coverage on shares of NewAmsterdam Pharma in a research note on Wednesday, June 4th. They issued an “overweight” rating and a $42.00 price objective on the stock. Stifel Nicolaus initiated coverage on shares of NewAmsterdam Pharma in a report on Tuesday, June 10th. They issued a “buy” rating and a $44.00 target price for the company. Royal Bank Of Canada lifted their price objective on shares of NewAmsterdam Pharma from $38.00 to $39.00 and gave the stock an “outperform” rating in a research note on Thursday. Needham & Company LLC reissued a “buy” rating and set a $40.00 target price on shares of NewAmsterdam Pharma in a research note on Thursday, June 12th. Finally, Wall Street Zen upgraded NewAmsterdam Pharma from a “sell” rating to a “hold” rating in a report on Saturday, July 5th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $41.20.

NewAmsterdam Pharma Stock Performance

Shares of NAMS stock opened at $25.31 on Monday. The stock’s 50-day simple moving average is $20.73 and its 200-day simple moving average is $19.98. The firm has a market capitalization of $2.84 billion, a price-to-earnings ratio of -15.62 and a beta of -0.02. NewAmsterdam Pharma Company N.V. has a fifty-two week low of $14.06 and a fifty-two week high of $27.29.

NewAmsterdam Pharma (NASDAQ:NAMS) last announced its quarterly earnings results on Wednesday, August 6th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.52) by $0.37. NewAmsterdam Pharma had a negative net margin of 259.07% and a negative return on equity of 27.27%. The firm had revenue of $19.15 million for the quarter, compared to the consensus estimate of $1.44 million. As a group, equities analysts forecast that NewAmsterdam Pharma Company N.V. will post -1.75 earnings per share for the current year.

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.