Jennison Associates LLC Sells 738,818 Shares of NewAmsterdam Pharma Company N.V. $NAMS

Jennison Associates LLC decreased its stake in shares of NewAmsterdam Pharma Company N.V. (NASDAQ:NAMS) by 21.2% during the first quarter, HoldingsChannel reports. The firm owned 2,750,403 shares of the company’s stock after selling 738,818 shares during the quarter. Jennison Associates LLC’s holdings in NewAmsterdam Pharma were worth $88,040,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in NewAmsterdam Pharma in the first quarter worth about $610,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in NewAmsterdam Pharma by 13.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 288,134 shares of the company’s stock valued at $5,898,000 after acquiring an additional 34,563 shares in the last quarter. Geode Capital Management LLC boosted its position in NewAmsterdam Pharma by 15.9% during the 2nd quarter. Geode Capital Management LLC now owns 99,457 shares of the company’s stock valued at $1,800,000 after acquiring an additional 13,629 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of NewAmsterdam Pharma by 33.5% during the 2nd quarter. Legal & General Group Plc now owns 44,235 shares of the company’s stock worth $801,000 after acquiring an additional 11,106 shares during the period. Finally, Invesco Ltd. grew its holdings in shares of NewAmsterdam Pharma by 12.7% during the 2nd quarter. Invesco Ltd. now owns 134,035 shares of the company’s stock worth $2,427,000 after acquiring an additional 15,101 shares during the period. Hedge funds and other institutional investors own 89.89% of the company’s stock.

NewAmsterdam Pharma Stock Performance

NAMS stock opened at $31.68 on Monday. The stock’s 50 day simple moving average is $33.50 and its 200 day simple moving average is $33.00. NewAmsterdam Pharma Company N.V. has a 12-month low of $21.14 and a 12-month high of $42.21. The stock has a market capitalization of $3.70 billion, a PE ratio of -17.70 and a beta of 0.08.

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

Analysts Set New Price Targets

Several brokerages have recently issued reports on NAMS. Wall Street Zen raised NewAmsterdam Pharma from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings restated a “sell (d-)” rating on shares of NewAmsterdam Pharma in a research report on Tuesday, April 21st. Finally, Royal Bank Of Canada upped their price target on NewAmsterdam Pharma from $47.00 to $51.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 30th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $49.00.

Insider Activity at NewAmsterdam Pharma

In related news, CAO Louise Frederika Kooij sold 40,000 shares of the stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $30.20, for a total transaction of $1,208,000.00. Following the sale, the chief accounting officer directly 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. 12.74% of the stock is owned by company insiders.

About NewAmsterdam Pharma

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.