NewAmsterdam Pharma (NASDAQ:NAMS) Stock Price Down 5.1% Following Insider Selling

NewAmsterdam Pharma (NASDAQ:NAMS) fell 5.1% during trading on Tuesday following insider selling activity. The stock traded as low as $23.40 and last traded at $23.40. 123,089 shares changed hands during 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 transaction, the insider now owns 11,778,760 shares of the company’s stock, valued at approximately $295,411,300.80. The trade was a 0.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Nap B.V. Forgrowth sold 8,530 shares of NewAmsterdam Pharma stock in a transaction 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 sale, the insider now owns 11,812,033 shares in the company, valued at $295,537,065.66. This represents a 0.07 % decrease in their position. The disclosure for this sale can be found here.

Analyst Ratings Changes

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

NewAmsterdam Pharma Trading Down 4.0 %

The company has a 50-day moving average of $18.82 and a 200-day moving average of $18.61.

Institutional Trading of NewAmsterdam Pharma

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Artal Group S.A. purchased a new position in shares of NewAmsterdam Pharma in the 1st quarter worth about $18,920,000. Janus Henderson Group PLC bought a new position in NewAmsterdam Pharma during the 1st quarter valued at approximately $15,018,000. Frazier Life Sciences Management L.P. increased its holdings in shares of NewAmsterdam Pharma by 5.1% in the 3rd quarter. Frazier Life Sciences Management L.P. now owns 12,855,194 shares of the company’s stock worth $213,396,000 after purchasing an additional 628,251 shares in the last quarter. Decheng Capital LLC bought a new stake in shares of NewAmsterdam Pharma in the 2nd quarter worth $7,684,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in NewAmsterdam Pharma by 1,231.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 239,283 shares of the company’s stock valued at $3,972,000 after acquiring an additional 221,305 shares during the last quarter. 89.89% of the stock is currently 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.