The Manufacturers Life Insurance Company Buys Shares of 8,616 NewAmsterdam Pharma (NASDAQ:NAMS)

The Manufacturers Life Insurance Company bought a new stake in shares of NewAmsterdam Pharma (NASDAQ:NAMS) in the fourth quarter, HoldingsChannel.com reports. The firm bought 8,616 shares of the company’s stock, valued at approximately $221,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Bain Capital Life Sciences Investors LLC raised its stake in NewAmsterdam Pharma by 2.3% during the 4th quarter. Bain Capital Life Sciences Investors LLC now owns 10,719,110 shares of the company’s stock valued at $275,481,000 after buying an additional 245,197 shares during the last quarter. Jennison Associates LLC raised its stake in NewAmsterdam Pharma by 291.9% during the 4th quarter. Jennison Associates LLC now owns 3,998,541 shares of the company’s stock valued at $102,763,000 after buying an additional 2,978,263 shares during the last quarter. Wellington Management Group LLP raised its stake in NewAmsterdam Pharma by 2,410.4% during the 4th quarter. Wellington Management Group LLP now owns 2,315,123 shares of the company’s stock valued at $59,499,000 after buying an additional 2,222,900 shares during the last quarter. Capital International Investors purchased a new stake in NewAmsterdam Pharma during the 4th quarter valued at $53,007,000. Finally, Alliancebernstein L.P. purchased a new stake in NewAmsterdam Pharma during the 4th quarter valued at $47,752,000. 89.89% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Scotiabank upped their price objective 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. Needham & Company LLC dropped their price objective on shares of NewAmsterdam Pharma from $42.00 to $40.00 and set a “buy” rating for the company in a report on Thursday, May 8th. UBS Group set a $41.00 target price on NewAmsterdam Pharma in a research report on Monday, March 3rd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $40.00 price target on shares of NewAmsterdam Pharma in a research note on Friday, January 24th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $43.00.

NewAmsterdam Pharma Trading Up 1.0%

Shares of NAMS stock opened at $18.88 on Monday. The business’s fifty day simple moving average is $19.08 and its 200-day simple moving average is $21.27. The company has a market cap of $2.07 billion, a PE ratio of -10.04 and a beta of 0.01. NewAmsterdam Pharma has a 12-month low of $14.06 and a 12-month high of $27.29.

NewAmsterdam Pharma (NASDAQ:NAMS) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.49) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.04). The firm had revenue of $2.98 million for the quarter, compared to analysts’ expectations of $1.46 million. On average, equities analysts forecast that NewAmsterdam Pharma will post -1.75 earnings per share for the current year.

Insider Activity

In related news, CAO Louise Frederika Kooij sold 150,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chief accounting officer now owns 15,000 shares in the company, valued at $305,550. This represents a 90.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James N. Topper purchased 1,135 shares of NewAmsterdam Pharma stock in a transaction that occurred on Wednesday, March 26th. The shares were bought at an average price of $22.49 per share, with a total value of $25,526.15. Following the transaction, the director now owns 3,013,569 shares in the company, valued at approximately $67,775,166.81. The trade was a 0.04% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 20.84% of the company’s stock.

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.