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

NewAmsterdam Pharma (NASDAQ:NAMS) traded down 5.1% during mid-day trading on Tuesday following insider selling activity. The stock traded as low as $23.40 and last traded at $23.40. 123,089 shares were traded 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 business’s stock in a transaction that occurred 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 directly 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 document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Nap B.V. Forgrowth sold 8,530 shares of the business’s 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 sale, the insider now directly owns 11,812,033 shares in the company, valued at $295,537,065.66. This trade represents a 0.07 % decrease in their position. The disclosure for this sale can be found here.

Analyst Upgrades and Downgrades

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

NewAmsterdam Pharma Price Performance

The business’s 50-day simple moving average is $18.68 and its 200-day simple moving average is $18.60.

Institutional Trading of NewAmsterdam Pharma

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC raised its stake 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 valued at $1,433,000 after acquiring an additional 1,399 shares during the period. M&T Bank Corp increased its holdings in shares of NewAmsterdam Pharma by 54.1% during the 3rd quarter. M&T Bank Corp now owns 27,328 shares of the company’s stock valued at $454,000 after purchasing an additional 9,593 shares in the last quarter. Frazier Life Sciences Management L.P. boosted its stake 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 purchasing an additional 628,251 shares during the last quarter. Barclays PLC boosted its position in shares of NewAmsterdam Pharma by 1,813.4% during the 3rd quarter. Barclays PLC now owns 7,596 shares of the company’s stock valued at $126,000 after acquiring an additional 7,199 shares during the last quarter. Finally, XTX Topco Ltd purchased a new stake in NewAmsterdam Pharma in the 3rd quarter valued at about $187,000. 89.89% of the stock is owned by hedge funds and other institutional investors.

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.