Marshall Wace LLP Reduces Holdings in NewAmsterdam Pharma (NASDAQ:NAMS)

Marshall Wace LLP lowered its position in shares of NewAmsterdam Pharma (NASDAQ:NAMS) by 81.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 21,831 shares of the company’s stock after selling 93,549 shares during the period. Marshall Wace LLP’s holdings in NewAmsterdam Pharma were worth $419,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Jennison Associates LLC acquired a new position in NewAmsterdam Pharma during the first quarter worth approximately $22,015,000. Artal Group S.A. purchased a new stake in NewAmsterdam Pharma in the 1st quarter valued at $18,920,000. Janus Henderson Group PLC purchased a new stake in NewAmsterdam Pharma in the 1st quarter valued at $15,018,000. Opaleye Management Inc. purchased a new position in NewAmsterdam Pharma during the 4th quarter worth $2,964,000. Finally, TimesSquare Capital Management LLC acquired a new position in NewAmsterdam Pharma in the first quarter valued at $5,407,000. 89.89% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CAO Louise Frederika Kooij sold 45,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $15.72, for a total transaction of $707,400.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 19.50% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on NAMS shares. Needham & Company LLC started coverage on shares of NewAmsterdam Pharma in a research note on Wednesday, August 28th. They set a “buy” rating and a $36.00 target price for the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $31.00 price objective on shares of NewAmsterdam Pharma in a research report on Thursday, September 5th. Finally, Piper Sandler reissued an “overweight” rating and issued a $37.00 target price on shares of NewAmsterdam Pharma in a report on Monday, September 23rd. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat, NewAmsterdam Pharma has an average rating of “Buy” and an average price target of $33.80.

NewAmsterdam Pharma Price Performance

NASDAQ NAMS opened at $17.62 on Friday. NewAmsterdam Pharma has a 52-week low of $5.63 and a 52-week high of $26.35. The firm has a 50-day moving average price of $16.50 and a 200 day moving average price of $18.75.

NewAmsterdam Pharma (NASDAQ:NAMS) last issued its earnings results on Wednesday, August 7th. The company reported ($0.51) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.59) by $0.08. The business had revenue of $2.28 million for the quarter, compared to analysts’ expectations of $2.20 million. On average, analysts predict that NewAmsterdam Pharma will post -2.06 EPS for the current year.

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.