Polar Capital Holdings Plc Raises Stake in NewAmsterdam Pharma (NASDAQ:NAMS)

Polar Capital Holdings Plc increased its stake in NewAmsterdam Pharma (NASDAQ:NAMS) by 16.3% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,750,000 shares of the company’s stock after acquiring an additional 245,000 shares during the quarter. Polar Capital Holdings Plc’s holdings in NewAmsterdam Pharma were worth $44,975,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in NAMS. JPMorgan Chase & Co. grew its stake in NewAmsterdam Pharma by 176.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 22,351 shares of the company’s stock worth $371,000 after acquiring an additional 14,280 shares in the last quarter. Legal & General Group Plc boosted its holdings in shares of NewAmsterdam Pharma by 24.8% in the fourth quarter. Legal & General Group Plc now owns 22,946 shares of the company’s stock valued at $590,000 after purchasing an additional 4,556 shares during the period. American Century Companies Inc. purchased a new stake in shares of NewAmsterdam Pharma in the fourth quarter valued at approximately $8,907,000. Swiss National Bank grew its stake in NewAmsterdam Pharma by 105.1% in the fourth quarter. Swiss National Bank now owns 72,000 shares of the company’s stock worth $1,850,000 after purchasing an additional 36,900 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in NewAmsterdam Pharma in the fourth quarter worth approximately $80,000. Hedge funds and other institutional investors own 89.89% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on NAMS shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $40.00 target price on shares of NewAmsterdam Pharma in a research report on Friday, January 24th. UBS Group set a $41.00 price objective on NewAmsterdam Pharma in a report on Monday, March 3rd. Needham & Company LLC dropped their target price on shares of NewAmsterdam Pharma from $42.00 to $40.00 and set a “buy” rating on the stock in a report on Thursday, May 8th. Finally, Scotiabank boosted their price target on shares of NewAmsterdam Pharma from $47.00 to $52.00 and gave the company a “sector outperform” rating in a report on Thursday, February 27th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, NewAmsterdam Pharma has an average rating of “Buy” and a consensus target price of $43.00.

NewAmsterdam Pharma Price Performance

NAMS opened at $18.75 on Thursday. The firm has a market capitalization of $2.06 billion, a PE ratio of -9.97 and a beta of 0.01. The business’s 50-day moving average is $19.25 and its two-hundred day moving average is $21.22. NewAmsterdam Pharma has a 1 year low of $14.06 and a 1 year high of $27.29.

NewAmsterdam Pharma (NASDAQ:NAMS) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.49) earnings per share (EPS) 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. As a group, sell-side analysts expect that NewAmsterdam Pharma will post -1.75 EPS for the current year.

Insiders Place Their Bets

In related news, CAO Louise Frederika Kooij sold 150,000 shares of NewAmsterdam Pharma stock in a transaction that occurred 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 completion of 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director James N. Topper acquired 1,135 shares of the stock in a transaction dated 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 completion of the purchase, the director now directly owns 3,013,569 shares of the company’s stock, valued at approximately $67,775,166.81. This trade represents a 0.04% increase in their position. The disclosure for this purchase can be found here. Corporate 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.