Letko Brosseau & Associates Inc. Invests $213,000 in NewAmsterdam Pharma Company N.V. $NAMS

Letko Brosseau & Associates Inc. bought a new stake in shares of NewAmsterdam Pharma Company N.V. (NASDAQ:NAMS) during the 2nd quarter, according to its most recent filing with the SEC. The firm bought 11,775 shares of the company’s stock, valued at approximately $213,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NAMS. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of NewAmsterdam Pharma by 18.0% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,337 shares of the company’s stock valued at $79,000 after purchasing an additional 662 shares during the period. Quarry LP purchased a new stake in NewAmsterdam Pharma during the 1st quarter worth $25,000. Avanza Fonder AB lifted its holdings in NewAmsterdam Pharma by 21.0% in the 2nd quarter. Avanza Fonder AB now owns 7,505 shares of the company’s stock worth $136,000 after buying an additional 1,300 shares in the last quarter. HB Wealth Management LLC boosted its position in NewAmsterdam Pharma by 28.9% in the 1st quarter. HB Wealth Management LLC now owns 11,247 shares of the company’s stock valued at $230,000 after buying an additional 2,519 shares during the last quarter. Finally, KLP Kapitalforvaltning AS grew its stake in shares of NewAmsterdam Pharma by 51.7% during the second quarter. KLP Kapitalforvaltning AS now owns 9,100 shares of the company’s stock valued at $165,000 after acquiring an additional 3,100 shares in the last quarter. Hedge funds and other institutional investors own 89.89% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on NAMS. Weiss Ratings reiterated a “sell (d-)” rating on shares of NewAmsterdam Pharma in a research note on Wednesday, October 8th. Citigroup increased their target price on NewAmsterdam Pharma from $42.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, October 17th. Royal Bank Of Canada lifted their price target on shares of NewAmsterdam Pharma from $39.00 to $44.00 and gave the stock an “outperform” rating in a research note on Thursday, November 6th. Wells Fargo & Company assumed coverage on shares of NewAmsterdam Pharma in a report on Monday, August 25th. They issued an “overweight” rating and a $45.00 price target on the stock. Finally, HC Wainwright began coverage on shares of NewAmsterdam Pharma in a report on Monday, October 20th. They set a “buy” rating and a $52.00 price objective for the company. Eight analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, NewAmsterdam Pharma presently has a consensus rating of “Moderate Buy” and an average target price of $44.30.

NewAmsterdam Pharma Stock Up 5.3%

Shares of NAMS stock opened at $38.35 on Friday. The company has a market cap of $4.35 billion, a P/E ratio of -18.71 and a beta of 0.05. NewAmsterdam Pharma Company N.V. has a 52 week low of $14.06 and a 52 week high of $41.47. The business has a 50 day moving average of $32.74 and a two-hundred day moving average of $25.18.

NewAmsterdam Pharma (NASDAQ:NAMS) last issued its quarterly earnings data on Wednesday, November 5th. The company reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.03). The company had revenue of $0.35 million for the quarter, compared to the consensus estimate of $4.54 million. NewAmsterdam Pharma had a negative return on equity of 28.30% and a negative net margin of 627.59%. Analysts expect that NewAmsterdam Pharma Company N.V. will post -1.75 EPS for the current fiscal year.

Insider Activity

In other news, insider Johannes Jacob Piete Kastelein sold 50,000 shares of the stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $24.29, for a total value of $1,214,500.00. Following the completion of the transaction, the insider owned 119,302 shares of the company’s stock, valued at approximately $2,897,845.58. This represents a 29.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director James N. Topper acquired 1,260 shares of the stock in a transaction that occurred on Monday, September 8th. The shares were bought at an average price of $24.99 per share, for a total transaction of $31,487.40. Following the purchase, the director directly owned 3,027,864 shares of the company’s stock, valued at approximately $75,666,321.36. This trade represents a 0.04% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders have sold 226,342 shares of company stock valued at $5,748,019. Insiders own 20.84% 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.