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

Ovata Capital Management Ltd purchased a new position in NewAmsterdam Pharma (NASDAQ:NAMS) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 150,000 shares of the company’s stock, valued at approximately $3,855,000. NewAmsterdam Pharma comprises about 1.5% of Ovata Capital Management Ltd’s holdings, making the stock its 17th largest holding. Ovata Capital Management Ltd owned about 0.16% of NewAmsterdam Pharma at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC increased its position in shares of NewAmsterdam Pharma by 35.6% in the 3rd quarter. FMR LLC now owns 330,412 shares of the company’s stock worth $5,485,000 after purchasing an additional 86,712 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in NewAmsterdam Pharma by 1,231.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 239,283 shares of the company’s stock valued at $3,972,000 after buying an additional 221,305 shares during the last quarter. JPMorgan Chase & Co. raised its stake in NewAmsterdam Pharma by 176.9% during the third quarter. JPMorgan Chase & Co. now owns 22,351 shares of the company’s stock valued at $371,000 after buying an additional 14,280 shares in the last quarter. State Street Corp lifted its holdings in NewAmsterdam Pharma by 168.7% during the 3rd quarter. State Street Corp now owns 37,915 shares of the company’s stock worth $629,000 after buying an additional 23,805 shares during the last quarter. Finally, American Century Companies Inc. acquired a new position in shares of NewAmsterdam Pharma in the 4th quarter worth approximately $8,907,000. 89.89% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

NewAmsterdam Pharma Trading Down 12.2 %

Shares of NASDAQ NAMS opened at $15.81 on Friday. NewAmsterdam Pharma has a 12-month low of $15.19 and a 12-month high of $27.29. The company has a market cap of $1.74 billion, a PE ratio of -6.08 and a beta of -0.04. The stock has a 50 day simple moving average of $21.13 and a 200-day simple moving average of $21.27.

NewAmsterdam Pharma (NASDAQ:NAMS) last released its quarterly earnings results on Wednesday, February 26th. The company reported ($0.95) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.48) by ($0.47). The firm had revenue of $12.77 million during the quarter, compared to the consensus estimate of $3.30 million. Sell-side analysts forecast that NewAmsterdam Pharma will post -1.75 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Louise Frederika Kooij sold 150,000 shares of NewAmsterdam Pharma stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $20.37, for a total transaction of $3,055,500.00. Following the transaction, the chief accounting officer now directly owns 15,000 shares in the company, valued at approximately $305,550. This trade represents a 90.91 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James N. Topper acquired 1,135 shares of the business’s stock in a transaction dated Wednesday, March 26th. The stock was purchased at an average price of $22.49 per share, with a total value of $25,526.15. Following the acquisition, the director now 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 ownership of the stock. The disclosure for this purchase can be found here. 19.50% of the stock is owned by insiders.

NewAmsterdam Pharma Company 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.