NewAmsterdam Pharma (NASDAQ:NAMS) Shares Down 5.1% After Insider Selling

NewAmsterdam Pharma (NASDAQ:NAMS)’s share price traded down 5.1% during trading on Tuesday following insider selling activity. The company traded as low as $23.40 and last traded at $23.40. 123,089 shares traded hands during mid-day trading, a decline of 55% from the average session volume of 273,628 shares. The stock had previously closed at $24.66.

Specifically, major shareholder Nap B.V. Forgrowth sold 33,273 shares of the business’s stock in a transaction 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 directly owns 11,778,760 shares of the company’s stock, valued at $295,411,300.80. The trade was a 0.28 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Nap B.V. Forgrowth sold 8,530 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $25.02, for a total transaction of $213,420.60. Following the sale, the insider now directly owns 11,812,033 shares of the company’s stock, valued at $295,537,065.66. This represents a 0.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Analyst Upgrades and Downgrades

NAMS has been the topic of a number of recent analyst reports. Piper Sandler restated an “overweight” rating and issued a $37.00 target price on shares of NewAmsterdam Pharma in a research note on Monday, September 23rd. Needham & Company LLC restated a “buy” rating and issued a $36.00 target price on shares of NewAmsterdam Pharma in a research note on Thursday, November 7th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $31.00 target price on shares of NewAmsterdam Pharma in a research note on Thursday, September 5th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $33.80.

NewAmsterdam Pharma Stock Down 15.5 %

The firm’s fifty day moving average is $18.90 and its 200 day moving average is $18.62.

Institutional Trading of NewAmsterdam Pharma

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Janus Henderson Group PLC acquired a new position in NewAmsterdam Pharma in the first quarter valued at approximately $15,018,000. abrdn plc lifted its stake in NewAmsterdam Pharma by 69.8% in the third quarter. abrdn plc now owns 129,060 shares of the company’s stock valued at $2,142,000 after acquiring an additional 53,060 shares during the last quarter. Millennium Management LLC lifted its stake in NewAmsterdam Pharma by 23.0% in the second quarter. Millennium Management LLC now owns 1,165,429 shares of the company’s stock valued at $22,388,000 after acquiring an additional 217,902 shares during the last quarter. Banque Cantonale Vaudoise acquired a new stake in shares of NewAmsterdam Pharma during the 2nd quarter worth about $38,000. Finally, Deerfield Management Company L.P. Series C lifted its stake in shares of NewAmsterdam Pharma by 30.3% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 869,250 shares of the company’s stock worth $16,698,000 after buying an additional 202,250 shares during the last quarter. Institutional investors own 89.89% of the company’s stock.

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.