Wellington Management Group LLP Acquires 2,222,900 Shares of NewAmsterdam Pharma (NASDAQ:NAMS)

Wellington Management Group LLP raised its holdings in NewAmsterdam Pharma (NASDAQ:NAMS) by 2,410.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,315,123 shares of the company’s stock after acquiring an additional 2,222,900 shares during the quarter. Wellington Management Group LLP owned about 2.51% of NewAmsterdam Pharma worth $59,499,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Jennison Associates LLC raised its position in shares of NewAmsterdam Pharma by 291.9% in the 4th quarter. Jennison Associates LLC now owns 3,998,541 shares of the company’s stock valued at $102,763,000 after acquiring an additional 2,978,263 shares during the period. TimesSquare Capital Management LLC raised its holdings in NewAmsterdam Pharma by 250.9% in the fourth quarter. TimesSquare Capital Management LLC now owns 895,574 shares of the company’s stock worth $23,016,000 after purchasing an additional 640,329 shares during the period. Frazier Life Sciences Management L.P. boosted its position in shares of NewAmsterdam Pharma by 5.1% during the third quarter. Frazier Life Sciences Management L.P. now owns 12,855,194 shares of the company’s stock worth $213,396,000 after purchasing an additional 628,251 shares in the last quarter. Janus Henderson Group PLC grew its holdings in shares of NewAmsterdam Pharma by 51.1% in the 3rd quarter. Janus Henderson Group PLC now owns 1,540,729 shares of the company’s stock valued at $25,607,000 after buying an additional 520,772 shares during the period. Finally, American Century Companies Inc. bought a new stake in shares of NewAmsterdam Pharma in the 4th quarter valued at $8,907,000. Institutional investors and hedge funds own 89.89% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Royal Bank of Canada reissued an “outperform” rating and issued a $40.00 target price on shares of NewAmsterdam Pharma in a research note on Friday, January 24th. Scotiabank increased their target price on NewAmsterdam Pharma from $47.00 to $52.00 and gave the stock a “sector outperform” rating in a research note on Thursday, February 27th. HC Wainwright reaffirmed a “buy” rating and issued a $48.00 price target on shares of NewAmsterdam Pharma in a research note on Tuesday, January 14th. Needham & Company LLC lowered their price objective on shares of NewAmsterdam Pharma from $46.00 to $42.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Finally, UBS Group set a $41.00 price objective on shares of NewAmsterdam Pharma in a research report on Monday, March 3rd. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $43.33.

NewAmsterdam Pharma Trading Down 12.2 %

Shares of NAMS opened at $15.81 on Friday. The stock has a market capitalization of $1.74 billion, a price-to-earnings ratio of -6.08 and a beta of -0.01. NewAmsterdam Pharma has a 12 month low of $15.19 and a 12 month high of $27.29. The firm has a fifty day simple moving average of $21.13 and a 200 day simple moving average of $21.31.

NewAmsterdam Pharma (NASDAQ:NAMS) last announced its quarterly earnings data on Wednesday, February 26th. The company reported ($0.95) earnings per share for the quarter, missing the consensus estimate of ($0.48) by ($0.47). The firm had revenue of $12.77 million during the quarter, compared to the consensus estimate of $3.30 million. As a group, research analysts predict that NewAmsterdam Pharma will post -1.75 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director James N. Topper bought 1,135 shares of the firm’s stock in a transaction that occurred on Wednesday, March 26th. The stock was acquired at an average cost of $22.49 per share, with a total value of $25,526.15. Following the completion of the purchase, the director now owns 3,013,569 shares of the company’s stock, valued at $67,775,166.81. This represents a 0.04 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Louise Frederika Kooij sold 150,000 shares of the company’s stock in a transaction on Tuesday, March 4th. The stock was 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 directly owns 15,000 shares in the company, valued at $305,550. This trade represents a 90.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 19.50% of the company’s stock.

About NewAmsterdam Pharma

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.