Ovata Capital Management Ltd Takes $3.86 Million Position in NewAmsterdam Pharma (NASDAQ:NAMS)

Ovata Capital Management Ltd purchased a new stake in shares of NewAmsterdam Pharma (NASDAQ:NAMS) during the fourth quarter, Holdings Channel.com reports. The firm purchased 150,000 shares of the company’s stock, valued at approximately $3,855,000. NewAmsterdam Pharma comprises 1.5% of Ovata Capital Management Ltd’s portfolio, making the stock its 17th biggest holding.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Jennison Associates LLC boosted its position in shares of NewAmsterdam Pharma by 291.9% in the fourth quarter. Jennison Associates LLC now owns 3,998,541 shares of the company’s stock worth $102,763,000 after buying an additional 2,978,263 shares during the period. Wellington Management Group LLP boosted its position 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 worth $59,499,000 after acquiring an additional 2,222,900 shares during the period. Alliancebernstein L.P. purchased a new position in NewAmsterdam Pharma during the 4th quarter valued at about $47,752,000. TimesSquare Capital Management LLC increased its holdings in shares of NewAmsterdam Pharma by 250.9% in the 4th quarter. TimesSquare Capital Management LLC now owns 895,574 shares of the company’s stock valued at $23,016,000 after purchasing an additional 640,329 shares during the period. Finally, Frazier Life Sciences Management L.P. lifted its position in shares of NewAmsterdam Pharma by 5.1% in 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. Institutional investors and hedge funds own 89.89% of the company’s stock.

Analyst Ratings Changes

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

NewAmsterdam Pharma Stock Performance

Shares of NASDAQ NAMS opened at $15.81 on Friday. The business’s 50-day simple moving average is $21.13 and its 200-day simple moving average is $21.27. NewAmsterdam Pharma has a 52 week low of $15.19 and a 52 week high of $27.29. The firm has a market cap of $1.74 billion, a price-to-earnings ratio of -6.08 and a beta of -0.04.

NewAmsterdam Pharma (NASDAQ:NAMS) last announced its quarterly 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 during the quarter, compared to the consensus estimate of $3.30 million. As a group, equities research analysts forecast that NewAmsterdam Pharma will post -1.75 earnings per share for the current year.

Insider Buying and Selling

In other NewAmsterdam Pharma news, CAO Louise Frederika Kooij sold 150,000 shares of NewAmsterdam Pharma stock in a transaction that occurred on Tuesday, March 4th. The stock was 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 directly owns 15,000 shares of the company’s stock, valued at $305,550. The trade was a 90.91 % 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 4,005 shares of NewAmsterdam Pharma stock in a transaction dated Tuesday, March 4th. The stock was acquired at an average cost of $21.02 per share, with a total value of $84,185.10. Following the completion of the transaction, the director now directly owns 3,012,434 shares of the company’s stock, valued at $63,321,362.68. This trade represents a 0.13 % increase in their position. The disclosure for this purchase can be found here. Insiders own 19.50% 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.