JPMorgan Chase & Co. Trims Stock Position in NewAmsterdam Pharma Company N.V. $NAMS

JPMorgan Chase & Co. cut its holdings in shares of NewAmsterdam Pharma Company N.V. (NASDAQ:NAMS) by 10.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,302,498 shares of the company’s stock after selling 156,399 shares during the period. JPMorgan Chase & Co. owned about 1.15% of NewAmsterdam Pharma worth $37,043,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of NAMS. CIBC Bancorp USA Inc. purchased a new stake in shares of NewAmsterdam Pharma in the third quarter worth about $886,000. Polar Capital Holdings Plc raised its position in NewAmsterdam Pharma by 15.6% during the third quarter. Polar Capital Holdings Plc now owns 2,911,634 shares of the company’s stock valued at $82,807,000 after acquiring an additional 393,855 shares in the last quarter. HighVista Strategies LLC lifted its holdings in NewAmsterdam Pharma by 65.1% in the third quarter. HighVista Strategies LLC now owns 31,831 shares of the company’s stock valued at $905,000 after acquiring an additional 12,557 shares during the period. Fred Alger Management LLC lifted its holdings in NewAmsterdam Pharma by 87.2% in the third quarter. Fred Alger Management LLC now owns 41,264 shares of the company’s stock valued at $1,174,000 after acquiring an additional 19,227 shares during the period. Finally, Duquesne Family Office LLC boosted its position in NewAmsterdam Pharma by 131.2% in the 3rd quarter. Duquesne Family Office LLC now owns 1,923,700 shares of the company’s stock worth $54,710,000 after purchasing an additional 1,091,525 shares in the last quarter. Hedge funds and other institutional investors own 89.89% of the company’s stock.

NewAmsterdam Pharma Stock Performance

NewAmsterdam Pharma stock opened at $28.94 on Friday. The company’s fifty day moving average price is $32.63 and its 200 day moving average price is $33.60. The stock has a market capitalization of $3.33 billion, a P/E ratio of -16.73 and a beta of 0.04. 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 posted its quarterly earnings data on Wednesday, February 18th. The company reported ($0.63) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.40) by ($0.23). The company had revenue of $0.03 million for the quarter, compared to analysts’ expectations of $0.92 million. NewAmsterdam Pharma had a negative net margin of 906.22% and a negative return on equity of 26.67%. Sell-side analysts predict that NewAmsterdam Pharma Company N.V. will post -1.75 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on NAMS shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NewAmsterdam Pharma in a research note on Thursday, January 22nd. Guggenheim increased their price target on shares of NewAmsterdam Pharma from $41.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, February 19th. Needham & Company LLC raised their price target on shares of NewAmsterdam Pharma from $46.00 to $48.00 and gave the company a “buy” rating in a research report on Wednesday, February 18th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of NewAmsterdam Pharma in a report on Thursday, February 19th. Finally, Royal Bank Of Canada upped their price objective on shares of NewAmsterdam Pharma from $44.00 to $47.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, NewAmsterdam Pharma currently has a consensus rating of “Moderate Buy” and an average price target of $48.00.

Insider Buying and Selling

In other news, Director Louis G. Lange sold 44,619 shares of the firm’s stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $30.42, for a total value of $1,357,309.98. Following the transaction, the director owned 10,360 shares in the company, valued at $315,151.20. This trade represents a 81.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Johannes Jacob Piete Kastelein sold 101,409 shares of NewAmsterdam Pharma stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $30.29, for a total value of $3,071,678.61. Following the completion of the sale, the insider directly owned 69,302 shares in the company, valued at $2,099,157.58. This represents a 59.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 1,466,933 shares of company stock worth $48,448,017. 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.