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

Shares of NewAmsterdam Pharma (NASDAQ:NAMS) gapped down prior to trading on Wednesday after an insider sold shares in the company. 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 firm’s stock in a transaction 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 completion of the sale, the insider now owns 11,778,760 shares of the company’s stock, valued at approximately $295,411,300.80. This trade represents a 0.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Nap B.V. Forgrowth sold 8,530 shares of the company’s 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 transaction, the insider now directly 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.

Wall Street Analysts Forecast Growth

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

NewAmsterdam Pharma Price Performance

The firm’s 50-day moving average price is $18.82 and its 200 day moving average price is $18.61.

Institutional Investors Weigh In On NewAmsterdam Pharma

A number of large investors have recently bought and sold shares of NAMS. Geode Capital Management LLC raised its holdings in shares of NewAmsterdam Pharma by 1.6% in the third quarter. Geode Capital Management LLC now owns 86,322 shares of the company’s stock worth $1,433,000 after acquiring an additional 1,399 shares during the last quarter. Banque Cantonale Vaudoise purchased a new position in NewAmsterdam Pharma in the 2nd quarter valued at about $38,000. Quarry LP boosted its stake in shares of NewAmsterdam Pharma by 2,469.2% during the 3rd quarter. Quarry LP now owns 6,500 shares of the company’s stock worth $108,000 after purchasing an additional 6,247 shares during the last quarter. Barclays PLC grew its holdings in shares of NewAmsterdam Pharma by 1,813.4% during the third quarter. Barclays PLC now owns 7,596 shares of the company’s stock worth $126,000 after buying an additional 7,199 shares in the last quarter. Finally, Bellevue Group AG acquired a new position in shares of NewAmsterdam Pharma in the third quarter valued at approximately $128,000. Institutional investors and hedge funds 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.