Pictet Asset Management Holding SA Lowers Stock Position in NewAmsterdam Pharma Company N.V. $NAMS

Pictet Asset Management Holding SA lessened its holdings in shares of NewAmsterdam Pharma Company N.V. (NASDAQ:NAMS) by 99.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,533 shares of the company’s stock after selling 739,589 shares during the period. Pictet Asset Management Holding SA’s holdings in NewAmsterdam Pharma were worth $209,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Duquesne Family Office LLC increased its stake in shares of NewAmsterdam Pharma by 131.2% in the 3rd quarter. Duquesne Family Office LLC now owns 1,923,700 shares of the company’s stock worth $54,710,000 after acquiring an additional 1,091,525 shares in the last quarter. Castle Hook Partners LP purchased a new position in NewAmsterdam Pharma during the 4th quarter valued at about $38,062,000. Adage Capital Partners GP L.L.C. boosted its stake in NewAmsterdam Pharma by 54.5% during the second quarter. Adage Capital Partners GP L.L.C. now owns 3,013,009 shares of the company’s stock worth $54,566,000 after acquiring an additional 1,062,359 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in NewAmsterdam Pharma by 96.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,725,662 shares of the company’s stock worth $60,536,000 after acquiring an additional 845,110 shares in the last quarter. Finally, Wellington Management Group LLP grew its holdings in NewAmsterdam Pharma by 21.0% in the third quarter. Wellington Management Group LLP now owns 4,020,126 shares of the company’s stock worth $114,332,000 after purchasing an additional 697,129 shares during the period. 89.89% of the stock is owned by hedge funds and other institutional investors.

NewAmsterdam Pharma Price Performance

Shares of NewAmsterdam Pharma stock opened at $33.28 on Tuesday. NewAmsterdam Pharma Company N.V. has a 1 year low of $20.53 and a 1 year high of $42.21. The firm’s 50-day moving average is $33.63 and its 200 day moving average is $33.10. The stock has a market cap of $3.89 billion, a price-to-earnings ratio of -18.59 and a beta of 0.08.

NewAmsterdam Pharma (NASDAQ:NAMS) last released its quarterly earnings data on Tuesday, March 31st. The company reported ($0.40) earnings per share for the quarter. The firm had revenue of $3.04 million for the quarter. NewAmsterdam Pharma had a negative net margin of 943.23% and a negative return on equity of 26.49%. On average, equities analysts expect that NewAmsterdam Pharma Company N.V. will post -1.78 EPS for the current fiscal year.

Insider Activity at NewAmsterdam Pharma

In related news, CAO Louise Frederika Kooij sold 40,000 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $30.20, for a total transaction of $1,208,000.00. Following the completion of the sale, the chief accounting officer owned 24,353 shares of the company’s stock, valued at $735,460.60. This trade represents a 62.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 12.74% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on NAMS. Wall Street Zen raised shares of NewAmsterdam Pharma from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Royal Bank Of Canada boosted their price target on NewAmsterdam Pharma from $47.00 to $51.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 30th. Weiss Ratings restated a “sell (d-)” rating on shares of NewAmsterdam Pharma in a research note on Tuesday, April 21st. Finally, Truist Financial initiated coverage on NewAmsterdam Pharma in a research report on Wednesday, March 18th. They set a “buy” rating and a $57.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.00.

NewAmsterdam Pharma Profile

NewAmsterdam Pharma, Inc is a clinical‐stage biopharmaceutical company focused on discovering and developing novel small‐molecule therapies for cardiometabolic diseases. The company’s research efforts are aimed at addressing key unmet needs in metabolic syndrome, obesity and type 2 diabetes by modulating pathways involved in glucose regulation, energy homeostasis and lipid metabolism.

The company’s development pipeline features multiple small‐molecule candidates at various stages of preclinical and clinical evaluation.