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

Shares of NewAmsterdam Pharma (NASDAQ:NAMS) gapped down before the market opened on Tuesday following insider selling activity. The stock had previously closed at $16.60, but opened at $15.72. NewAmsterdam Pharma shares last traded at $16.45, with a volume of 58,998 shares trading hands.

Specifically, CAO Louise Frederika Kooij sold 45,000 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $15.72, for a total value of $707,400.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Analyst Ratings Changes

NAMS has been the topic of several analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $31.00 target price on shares of NewAmsterdam Pharma in a research report on Thursday, September 5th. Needham & Company LLC began coverage on shares of NewAmsterdam Pharma in a research report on Wednesday, August 28th. They issued a “buy” rating and a $36.00 price target for the company. Finally, Piper Sandler reissued an “overweight” rating and issued a $37.00 price target on shares of NewAmsterdam Pharma in a research report on Monday, September 23rd. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $33.80.

NewAmsterdam Pharma Stock Performance

The stock’s 50 day moving average is $16.47 and its two-hundred day moving average is $18.91.

NewAmsterdam Pharma (NASDAQ:NAMS) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.51) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.59) by $0.08. The firm had revenue of $2.28 million for the quarter, compared to the consensus estimate of $2.20 million. On average, analysts predict that NewAmsterdam Pharma will post -2.06 EPS for the current year.

Institutional Trading of NewAmsterdam Pharma

A number of institutional investors have recently made changes to their positions in the business. Millennium Management LLC raised its holdings in shares of NewAmsterdam Pharma by 23.0% in the 2nd quarter. Millennium Management LLC now owns 1,165,429 shares of the company’s stock valued at $22,388,000 after purchasing an additional 217,902 shares during the period. Deerfield Management Company L.P. Series C lifted its position in shares of NewAmsterdam Pharma by 30.3% in the second quarter. Deerfield Management Company L.P. Series C now owns 869,250 shares of the company’s stock valued at $16,698,000 after buying an additional 202,250 shares during the last quarter. Decheng Capital LLC bought a new position in shares of NewAmsterdam Pharma during the 2nd quarter worth approximately $7,684,000. Affinity Asset Advisors LLC increased its holdings in shares of NewAmsterdam Pharma by 47.9% during the 2nd quarter. Affinity Asset Advisors LLC now owns 423,155 shares of the company’s stock worth $8,129,000 after acquiring an additional 136,955 shares during the last quarter. Finally, Sei Investments Co. raised its stake in NewAmsterdam Pharma by 49.1% in the 2nd quarter. Sei Investments Co. now owns 24,561 shares of the company’s stock valued at $472,000 after acquiring an additional 8,087 shares during the period. 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.