NewAmsterdam Pharma (NASDAQ:NAMS) Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. raised its position in shares of NewAmsterdam Pharma (NASDAQ:NAMS) by 176.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 22,351 shares of the company’s stock after buying an additional 14,280 shares during the quarter. JPMorgan Chase & Co.’s holdings in NewAmsterdam Pharma were worth $371,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in NAMS. Barclays PLC increased its stake in shares of NewAmsterdam Pharma by 1,813.4% in the third quarter. Barclays PLC now owns 7,596 shares of the company’s stock worth $126,000 after purchasing an additional 7,199 shares during the period. Geode Capital Management LLC lifted its position in NewAmsterdam Pharma by 1.6% in the third quarter. Geode Capital Management LLC now owns 86,322 shares of the company’s stock worth $1,433,000 after purchasing an additional 1,399 shares during the period. M&T Bank Corp raised its position in NewAmsterdam Pharma by 54.1% in the third quarter. M&T Bank Corp now owns 27,328 shares of the company’s stock worth $454,000 after purchasing an additional 9,593 shares in the last quarter. Frazier Life Sciences Management L.P. boosted its position in NewAmsterdam Pharma by 5.1% in the third quarter. Frazier Life Sciences Management L.P. now owns 12,855,194 shares of the company’s stock valued at $213,396,000 after buying an additional 628,251 shares in the last quarter. Finally, XTX Topco Ltd bought a new position in NewAmsterdam Pharma in the 3rd quarter valued at $187,000. 89.89% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other NewAmsterdam Pharma news, major shareholder Nap B.V. Forgrowth sold 8,530 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $25.02, for a total value of $213,420.60. Following the completion of the transaction, the insider now directly owns 11,812,033 shares in the company, valued at approximately $295,537,065.66. This represents a 0.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 446,730 shares of company stock valued at $11,438,695 over the last quarter. 19.50% of the stock is owned by corporate insiders.

NewAmsterdam Pharma Stock Performance

NAMS stock opened at $20.78 on Thursday. NewAmsterdam Pharma has a 1-year low of $15.19 and a 1-year high of $27.29. The company’s 50 day moving average is $23.48 and its 200 day moving average is $19.96.

Wall Street Analyst Weigh In

A number of research firms have weighed in on NAMS. Needham & Company LLC reaffirmed a “buy” rating and set a $36.00 price target on shares of NewAmsterdam Pharma in a research report on Thursday, December 5th. Scotiabank increased their price objective on NewAmsterdam Pharma from $35.00 to $47.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, December 11th. Royal Bank of Canada reiterated an “outperform” rating and set a $40.00 target price on shares of NewAmsterdam Pharma in a research report on Friday, January 24th. Finally, HC Wainwright restated a “buy” rating and set a $48.00 price objective on shares of NewAmsterdam Pharma in a research report on Tuesday, January 14th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $41.60.

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.