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

Jennison Associates LLC increased its position in shares of NewAmsterdam Pharma (NASDAQ:NAMS) by 291.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,998,541 shares of the company’s stock after buying an additional 2,978,263 shares during the period. Jennison Associates LLC owned about 4.33% of NewAmsterdam Pharma worth $102,763,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in NAMS. Frazier Life Sciences Management L.P. grew its holdings in NewAmsterdam Pharma by 5.1% during the 3rd quarter. Frazier Life Sciences Management L.P. now owns 12,855,194 shares of the company’s stock worth $213,396,000 after acquiring an additional 628,251 shares in the last quarter. Janus Henderson Group PLC boosted its stake in shares of NewAmsterdam Pharma by 51.1% during the third quarter. Janus Henderson Group PLC now owns 1,540,729 shares of the company’s stock valued at $25,607,000 after purchasing an additional 520,772 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in NewAmsterdam Pharma by 1,231.0% during 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 buying an additional 221,305 shares during the period. Readystate Asset Management LP bought a new position in NewAmsterdam Pharma in the third quarter worth approximately $2,009,000. Finally, FMR LLC lifted its holdings in NewAmsterdam Pharma by 35.6% during the third quarter. FMR LLC now owns 330,412 shares of the company’s stock worth $5,485,000 after buying an additional 86,712 shares during the period. 89.89% of the stock is currently owned by institutional investors.

NewAmsterdam Pharma Trading Down 4.2 %

NewAmsterdam Pharma stock opened at $21.36 on Tuesday. The stock has a 50-day moving average of $23.56 and a two-hundred day moving average of $20.02. NewAmsterdam Pharma has a one year low of $15.19 and a one year high of $27.29.

Insider Activity at NewAmsterdam Pharma

In related news, major shareholder Nap B.V. Forgrowth sold 33,273 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $25.08, for a total value of $834,486.84. Following the completion of the transaction, the insider now owns 11,778,760 shares in the company, valued at $295,411,300.80. This trade represents a 0.28 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold 446,730 shares of company stock valued at $11,438,695 in the last three months. 19.50% of the stock is owned by insiders.

Analysts Set New Price Targets

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

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.