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

NewAmsterdam Pharma (NASDAQ:NAMS)’s stock 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 changing hands.

Specifically, major shareholder Nap B.V. Forgrowth sold 33,273 shares of the business’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 value of $834,486.84. Following the completion of the sale, the insider now directly owns 11,778,760 shares in the company, valued at approximately $295,411,300.80. The trade was a 0.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Nap B.V. Forgrowth sold 8,530 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $25.02, for a total transaction of $213,420.60. Following the transaction, the insider now directly owns 11,812,033 shares of the company’s stock, valued at $295,537,065.66. This trade represents a 0.07 % decrease in their position. The disclosure for this sale can be found here.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on NAMS. Piper Sandler reissued an “overweight” rating and set a $37.00 price objective on shares of NewAmsterdam Pharma in a research note on Monday, September 23rd. Needham & Company LLC reiterated a “buy” rating and issued a $36.00 target price on shares of NewAmsterdam Pharma in a report on Thursday, November 7th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $31.00 price target 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 MarketBeat, the company has a consensus rating of “Buy” and an average target price of $33.80.

NewAmsterdam Pharma Trading Down 15.5 %

The business’s 50-day moving average is $18.82 and its two-hundred day moving average is $18.61.

Institutional Investors Weigh In On NewAmsterdam Pharma

A number of large investors have recently modified their holdings of NAMS. Barclays PLC lifted its position in NewAmsterdam Pharma by 1,813.4% during the 3rd quarter. Barclays PLC now owns 7,596 shares of the company’s stock worth $126,000 after acquiring an additional 7,199 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of NewAmsterdam Pharma by 1.6% during the third quarter. Geode Capital Management LLC now owns 86,322 shares of the company’s stock worth $1,433,000 after purchasing an additional 1,399 shares in the last quarter. M&T Bank Corp boosted its stake in shares of 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 purchasing an additional 9,593 shares during the period. 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 valued at $213,396,000 after purchasing an additional 628,251 shares in the last quarter. Finally, XTX Topco Ltd purchased a new position in NewAmsterdam Pharma in the 3rd quarter valued at about $187,000. Institutional investors and hedge funds 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.