NewAmsterdam Pharma (NASDAQ:NAMS) Trading Down 5.1% on Insider Selling

Shares of NewAmsterdam Pharma (NASDAQ:NAMS) traded down 5.1% on Tuesday after an insider sold shares in the company. The company traded as low as $23.40 and last traded at $23.40. 123,089 shares changed 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 stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $25.08, for a total value of $834,486.84. Following the sale, the insider now directly owns 11,778,760 shares of the company’s stock, valued at approximately $295,411,300.80. This represents a 0.28 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 value of $213,420.60. Following the completion of the transaction, the insider now owns 11,812,033 shares of the company’s stock, valued at $295,537,065.66. The trade was a 0.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Analysts Set New Price Targets

A number of brokerages recently commented on NAMS. Piper Sandler reissued an “overweight” rating and issued a $37.00 price target on shares of NewAmsterdam Pharma in a report on Monday, September 23rd. Royal Bank of Canada restated an “outperform” rating and set a $31.00 target price on shares of NewAmsterdam Pharma in a report on Thursday, September 5th. Finally, Needham & Company LLC reissued a “buy” rating and set a $36.00 target price on shares of NewAmsterdam Pharma in a research report on Thursday, November 7th. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $33.80.

NewAmsterdam Pharma Stock Down 3.9 %

The business has a fifty day moving average price of $18.68 and a 200-day moving average price of $18.60.

Hedge Funds Weigh In On NewAmsterdam Pharma

A number of institutional investors have recently bought and sold shares of NAMS. StemPoint Capital LP purchased a new position in shares of NewAmsterdam Pharma during the first quarter valued at approximately $1,900,000. Affinity Asset Advisors LLC raised its holdings in NewAmsterdam Pharma by 129.0% in the 1st quarter. Affinity Asset Advisors LLC now owns 286,200 shares of the company’s stock valued at $6,769,000 after acquiring an additional 161,200 shares during the last quarter. Baker BROS. Advisors LP purchased a new position in shares of NewAmsterdam Pharma during the 1st quarter worth approximately $2,290,000. Janus Henderson Group PLC acquired a new stake in NewAmsterdam Pharma during the 1st quarter worth approximately $15,018,000. Finally, Artal Group S.A. acquired a new stake in shares of NewAmsterdam Pharma in the 1st quarter valued at $18,920,000. 89.89% of the stock is owned by institutional investors.

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.