Wellington Management Group LLP Buys 2,222,900 Shares of NewAmsterdam Pharma (NASDAQ:NAMS)

Wellington Management Group LLP raised its stake in NewAmsterdam Pharma (NASDAQ:NAMS) by 2,410.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 2,315,123 shares of the company’s stock after buying an additional 2,222,900 shares during the period. Wellington Management Group LLP’s holdings in NewAmsterdam Pharma were worth $59,499,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

NewAmsterdam Pharma Price Performance

Shares of NASDAQ:NAMS opened at $15.81 on Friday. NewAmsterdam Pharma has a 1 year low of $15.19 and a 1 year high of $27.29. The stock has a market capitalization of $1.74 billion, a price-to-earnings ratio of -6.08 and a beta of -0.01. The company’s 50 day simple moving average is $21.13 and its 200 day simple moving average is $21.31.

NewAmsterdam Pharma (NASDAQ:NAMS) last announced its quarterly earnings data on Wednesday, February 26th. The company reported ($0.95) earnings per share for the quarter, missing the consensus estimate of ($0.48) by ($0.47). The company had revenue of $12.77 million during the quarter, compared to analyst estimates of $3.30 million. As a group, analysts anticipate that NewAmsterdam Pharma will post -1.75 EPS for the current fiscal year.

Insider Activity

In other news, CAO Louise Frederika Kooij sold 150,000 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $20.37, for a total value of $3,055,500.00. Following the completion of the transaction, the chief accounting officer now directly owns 15,000 shares in the company, valued at approximately $305,550. This represents a 90.91 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James N. Topper acquired 4,005 shares of NewAmsterdam Pharma stock in a transaction that occurred on Tuesday, March 4th. The shares were purchased at an average price of $21.02 per share, for a total transaction of $84,185.10. Following the transaction, the director now directly owns 3,012,434 shares in the company, valued at $63,321,362.68. The trade was a 0.13 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 19.50% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

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.