NewAmsterdam Pharma (NASDAQ:NAMS) Shares Gap Down After 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 NewAmsterdam Pharma stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $25.08, for a total value of $834,486.84. Following the transaction, the insider now directly owns 11,778,760 shares in the company, valued at approximately $295,411,300.80. This trade represents a 0.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed 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 shares were sold at an average price of $25.02, for a total transaction of $213,420.60. Following the completion of the transaction, the insider now owns 11,812,033 shares in the company, valued at approximately $295,537,065.66. This trade represents 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 equities analysts have recently issued reports on the company. Piper Sandler reissued an “overweight” rating and set a $37.00 target price on shares of NewAmsterdam Pharma in a research note 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 restated a “buy” rating and set a $36.00 target price on shares of NewAmsterdam Pharma in a research report on Thursday, November 7th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, NewAmsterdam Pharma currently has a consensus rating of “Buy” and a consensus target price of $33.80.

NewAmsterdam Pharma Trading Down 15.5 %

The company’s fifty day moving average is $18.90 and its two-hundred day moving average is $18.62.

Institutional Trading of NewAmsterdam Pharma

A number of hedge funds and other institutional investors have recently modified their holdings of the business. 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 worth $213,396,000 after acquiring an additional 628,251 shares in the last quarter. Janus Henderson Group PLC grew its stake in NewAmsterdam Pharma by 51.1% in the third quarter. Janus Henderson Group PLC now owns 1,540,729 shares of the company’s stock worth $25,607,000 after purchasing an additional 520,772 shares in the last quarter. Millennium Management LLC increased its holdings in NewAmsterdam Pharma by 23.0% in the second quarter. Millennium Management LLC now owns 1,165,429 shares of the company’s stock valued at $22,388,000 after buying an additional 217,902 shares during the last quarter. Jennison Associates LLC raised its stake in NewAmsterdam Pharma by 8.9% during the third quarter. Jennison Associates LLC now owns 1,020,278 shares of the company’s stock valued at $16,937,000 after buying an additional 83,115 shares in the last quarter. Finally, Deerfield Management Company L.P. Series C lifted its holdings in NewAmsterdam Pharma by 30.3% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 869,250 shares of the company’s stock worth $16,698,000 after buying an additional 202,250 shares during the last quarter. 89.89% of the stock is owned by hedge funds and other 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.