NewAmsterdam Pharma (NASDAQ:NAMS) Shares Gap Down Following Insider Selling

NewAmsterdam Pharma (NASDAQ:NAMS)’s share price gapped down before the market opened on Wednesday following insider selling activity. The stock had previously closed at $23.68, but opened at $21.82. NewAmsterdam Pharma shares last traded at $20.01, with a volume of 712,779 shares.

Specifically, major shareholder Nap B.V. Forgrowth sold 33,273 shares of the firm’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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Nap B.V. Forgrowth sold 8,530 shares of the company’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 completion of the sale, the insider now directly owns 11,812,033 shares in the company, 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

Several equities research analysts have recently weighed in on the stock. Needham & Company LLC reissued a “buy” rating and issued a $36.00 target price on shares of NewAmsterdam Pharma in a research report on Thursday. Royal Bank of Canada reissued an “outperform” rating and issued a $31.00 price objective on shares of NewAmsterdam Pharma in a report on Thursday, September 5th. Finally, Piper Sandler restated an “overweight” rating and set a $37.00 price objective on shares of NewAmsterdam Pharma in a research note on Monday, September 23rd. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $33.80.

NewAmsterdam Pharma Stock Performance

The business’s 50-day moving average is $18.98 and its two-hundred day moving average is $18.63.

Hedge Funds Weigh In On NewAmsterdam Pharma

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Barclays PLC lifted its holdings in shares of NewAmsterdam Pharma by 1,813.4% in the 3rd quarter. Barclays PLC now owns 7,596 shares of the company’s stock worth $126,000 after purchasing an additional 7,199 shares during the last quarter. Geode Capital Management LLC lifted its stake in NewAmsterdam Pharma by 1.6% in the third quarter. Geode Capital Management LLC now owns 86,322 shares of the company’s stock valued at $1,433,000 after buying an additional 1,399 shares during the last quarter. M&T Bank Corp lifted its stake in NewAmsterdam Pharma by 54.1% in the third quarter. M&T Bank Corp now owns 27,328 shares of the company’s stock valued at $454,000 after buying an additional 9,593 shares during the last quarter. Frazier Life Sciences Management L.P. boosted its holdings in shares of NewAmsterdam Pharma by 5.1% during the third quarter. Frazier Life Sciences Management L.P. now owns 12,855,194 shares of the company’s stock valued at $213,396,000 after acquiring an additional 628,251 shares during the period. Finally, XTX Topco Ltd bought a new position in shares of NewAmsterdam Pharma during the third quarter worth about $187,000. 89.89% of the stock is currently owned by institutional investors and hedge funds.

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.