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

NewAmsterdam Pharma (NASDAQ:NAMS)’s share price gapped down prior to trading 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 the company’s 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 transaction, the insider now directly owns 11,778,760 shares in the company, valued at approximately $295,411,300.80. This represents a 0.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Nap B.V. Forgrowth sold 8,530 shares of NewAmsterdam Pharma stock in a transaction dated 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 of the company’s stock, 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.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Royal Bank of Canada restated an “outperform” rating and set a $31.00 target price on shares of NewAmsterdam Pharma in a research report on Thursday, September 5th. Piper Sandler reiterated an “overweight” rating and issued a $37.00 target price on shares of NewAmsterdam Pharma in a research note on Monday, September 23rd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $36.00 price target on shares of NewAmsterdam Pharma in a research note on Thursday. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $33.80.

NewAmsterdam Pharma Price Performance

The firm has a 50-day moving average of $18.98 and a two-hundred day moving average of $18.63.

Hedge Funds Weigh In On NewAmsterdam Pharma

Several hedge funds and other institutional investors have recently modified their holdings of NAMS. Artal Group S.A. purchased a new position in NewAmsterdam Pharma in the first quarter valued at approximately $18,920,000. Janus Henderson Group PLC purchased a new position in shares of NewAmsterdam Pharma in the 1st quarter valued at $15,018,000. Frazier Life Sciences Management L.P. lifted its holdings in shares of 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 acquiring an additional 628,251 shares in the last quarter. Decheng Capital LLC acquired a new position in shares of NewAmsterdam Pharma during the 2nd quarter valued at $7,684,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in NewAmsterdam Pharma by 1,231.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 239,283 shares of the company’s stock worth $3,972,000 after purchasing an additional 221,305 shares during the period. 89.89% of the stock is owned by institutional investors and hedge funds.

About NewAmsterdam Pharma

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.