US Bancorp DE Decreases Stake in NewAmsterdam Pharma (NASDAQ:NAMS)

US Bancorp DE lessened its stake in NewAmsterdam Pharma (NASDAQ:NAMS) by 80.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 2,804 shares of the company’s stock after selling 11,619 shares during the quarter. US Bancorp DE’s holdings in NewAmsterdam Pharma were worth $72,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Jennison Associates LLC increased its holdings in NewAmsterdam Pharma by 8.9% in the third quarter. Jennison Associates LLC now owns 1,020,278 shares of the company’s stock valued at $16,937,000 after buying an additional 83,115 shares in the last quarter. HealthInvest Partners AB increased its stake in NewAmsterdam Pharma by 83.4% in the 3rd quarter. HealthInvest Partners AB now owns 138,983 shares of the company’s stock valued at $2,307,000 after purchasing an additional 63,189 shares in the last quarter. FMR LLC raised its holdings in NewAmsterdam Pharma by 35.6% during the third quarter. FMR LLC now owns 330,412 shares of the company’s stock worth $5,485,000 after purchasing an additional 86,712 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in NewAmsterdam Pharma by 1,231.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 239,283 shares of the company’s stock worth $3,972,000 after purchasing an additional 221,305 shares in the last quarter. Finally, Walleye Capital LLC purchased a new stake in NewAmsterdam Pharma during the third quarter worth $779,000. Institutional investors and hedge funds own 89.89% of the company’s stock.

Insider Activity

In other NewAmsterdam Pharma news, CAO Louise Frederika Kooij sold 150,000 shares of NewAmsterdam Pharma stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $20.37, for a total value of $3,055,500.00. Following the transaction, the chief accounting officer now owns 15,000 shares in the company, valued at $305,550. This trade represents a 90.91 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director James N. Topper acquired 4,005 shares of the stock in a transaction dated Tuesday, March 4th. The shares were bought at an average cost of $21.02 per share, with a total value of $84,185.10. Following the completion of the purchase, the director now directly owns 3,012,434 shares in the company, valued at approximately $63,321,362.68. This trade represents a 0.13 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 388,916 shares of company stock valued at $9,231,268 over the last quarter. Company insiders own 19.50% of the company’s stock.

Wall Street Analysts Forecast Growth

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

NewAmsterdam Pharma Price Performance

Shares of NASDAQ NAMS opened at $23.34 on Tuesday. The company has a 50-day simple moving average of $21.90 and a 200-day simple moving average of $20.83. The company has a market cap of $2.56 billion, a PE ratio of -8.98 and a beta of -0.04. NewAmsterdam Pharma has a 12 month low of $15.19 and a 12 month high of $27.29.

NewAmsterdam Pharma (NASDAQ:NAMS) last released its earnings results on Wednesday, February 26th. The company reported ($0.95) EPS for the quarter, missing the consensus estimate of ($0.48) by ($0.47). The business had revenue of $12.77 million for the quarter, compared to analysts’ expectations of $3.30 million. On average, analysts anticipate that NewAmsterdam Pharma will post -1.75 EPS 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.