Pictet Asset Management Holding SA Sells 739,589 Shares of NewAmsterdam Pharma Company N.V. $NAMS

Pictet Asset Management Holding SA cut its holdings in shares of NewAmsterdam Pharma Company N.V. (NASDAQ:NAMS) by 99.1% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 6,533 shares of the company’s stock after selling 739,589 shares during the quarter. Pictet Asset Management Holding SA’s holdings in NewAmsterdam Pharma were worth $209,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Farther Finance Advisors LLC increased its holdings in NewAmsterdam Pharma by 4,425.0% in the 4th quarter. Farther Finance Advisors LLC now owns 724 shares of the company’s stock worth $25,000 after buying an additional 708 shares in the last quarter. Wells Fargo & Company MN lifted its stake in NewAmsterdam Pharma by 50.0% during the 4th quarter. Wells Fargo & Company MN now owns 900 shares of the company’s stock valued at $32,000 after acquiring an additional 300 shares during the period. Navalign LLC purchased a new stake in shares of NewAmsterdam Pharma during the 4th quarter valued at about $46,000. Empowered Funds LLC purchased a new stake in shares of NewAmsterdam Pharma during the 4th quarter valued at about $85,000. Finally, NBC Securities Inc. bought a new stake in shares of NewAmsterdam Pharma in the fourth quarter worth approximately $86,000. 89.89% of the stock is currently owned by institutional investors.

Insider Buying and Selling at NewAmsterdam Pharma

In other news, CAO Louise Frederika Kooij sold 65,000 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $35.69, for a total transaction of $2,319,850.00. Following the completion of the sale, the chief accounting officer owned 24,353 shares of the company’s stock, valued at $869,158.57. The trade was a 72.75% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 12.74% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

NAMS has been the subject of several research reports. Wall Street Zen raised shares of NewAmsterdam Pharma from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Truist Financial assumed coverage on shares of NewAmsterdam Pharma in a report on Wednesday, March 18th. They issued a “buy” rating and a $57.00 target price on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NewAmsterdam Pharma in a research report on Tuesday, April 21st. Finally, Royal Bank Of Canada lifted their target price on shares of NewAmsterdam Pharma from $47.00 to $51.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 30th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $49.00.

NewAmsterdam Pharma Trading Down 5.6%

NAMS opened at $33.28 on Tuesday. The company has a market cap of $3.89 billion, a price-to-earnings ratio of -18.59 and a beta of 0.08. The company’s 50 day moving average is $33.63 and its 200 day moving average is $33.10. NewAmsterdam Pharma Company N.V. has a 12-month low of $20.53 and a 12-month high of $42.21.

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

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.