Jennison Associates LLC Raises Stock Position in NewAmsterdam Pharma (NASDAQ:NAMS)

Jennison Associates LLC boosted its position in shares of NewAmsterdam Pharma (NASDAQ:NAMS) by 8.9% during the third quarter, Holdings Channel reports. The firm owned 1,020,278 shares of the company’s stock after buying an additional 83,115 shares during the quarter. Jennison Associates LLC’s holdings in NewAmsterdam Pharma were worth $16,937,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Banque Cantonale Vaudoise purchased a new stake in shares of NewAmsterdam Pharma in the second quarter valued at about $38,000. Sei Investments Co. lifted its position in shares of NewAmsterdam Pharma by 49.1% in the second quarter. Sei Investments Co. now owns 24,561 shares of the company’s stock valued at $472,000 after acquiring an additional 8,087 shares in the last quarter. Wolverine Asset Management LLC boosted its stake in shares of NewAmsterdam Pharma by 117.7% during the second quarter. Wolverine Asset Management LLC now owns 15,524 shares of the company’s stock valued at $298,000 after acquiring an additional 8,394 shares during the last quarter. TimesSquare Capital Management LLC increased its position in NewAmsterdam Pharma by 3.7% during the 3rd quarter. TimesSquare Capital Management LLC now owns 255,245 shares of the company’s stock worth $4,237,000 after purchasing an additional 9,160 shares in the last quarter. Finally, Rosalind Advisors Inc. acquired a new position in NewAmsterdam Pharma in the 2nd quarter valued at about $194,000. Hedge funds and other institutional investors own 89.89% of the company’s stock.

Insider Transactions at NewAmsterdam Pharma

In other news, CAO Louise Frederika Kooij sold 45,000 shares of NewAmsterdam Pharma stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $15.72, for a total value of $707,400.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Nap B.V. Forgrowth sold 33,273 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $25.08, for a total transaction of $834,486.84. Following the completion of the sale, the insider now owns 11,778,760 shares of the company’s stock, valued at approximately $295,411,300.80. This trade represents a 0.28 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 86,803 shares of company stock worth $1,755,307. Company insiders own 19.50% of the company’s stock.

Wall Street Analyst Weigh In

NAMS has been the subject of several analyst reports. Piper Sandler reiterated an “overweight” rating and issued a $37.00 target price on shares of NewAmsterdam Pharma in a research note on Monday, September 23rd. Royal Bank of Canada restated an “outperform” rating and issued a $31.00 target price on shares of NewAmsterdam Pharma in a report on Thursday, September 5th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $36.00 target price on shares of NewAmsterdam Pharma in a research report on Thursday. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $33.80.

NewAmsterdam Pharma Stock Performance

NewAmsterdam Pharma stock opened at $20.20 on Friday. The firm’s 50-day moving average is $19.07 and its 200-day moving average is $18.62. NewAmsterdam Pharma has a 1 year low of $8.90 and a 1 year high of $26.35.

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.