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

Shares of NewAmsterdam Pharma (NASDAQ:NAMS) fell 5.1% during mid-day trading on Tuesday following insider selling activity. The company traded as low as $23.40 and last traded at $23.40. 123,089 shares changed hands 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 company’s stock in a transaction dated 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 transaction, the insider now owns 11,778,760 shares of the company’s stock, valued at $295,411,300.80. This represents a 0.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Nap B.V. Forgrowth sold 8,530 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $25.02, for a total value of $213,420.60. Following the transaction, the insider now directly owns 11,812,033 shares of the company’s stock, valued at approximately $295,537,065.66. The trade was 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 recently commented on the company. Royal Bank of Canada reissued an “outperform” rating and set a $31.00 price target on shares of NewAmsterdam Pharma in a research note on Thursday, September 5th. Piper Sandler restated an “overweight” rating and set a $37.00 price objective on shares of NewAmsterdam Pharma in a research report on Monday, September 23rd. Finally, Needham & Company LLC restated a “buy” rating and set a $36.00 price objective on shares of NewAmsterdam Pharma in a research report on Thursday, November 7th. Seven analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $33.80.

NewAmsterdam Pharma Stock Down 4.0 %

The firm has a fifty day moving average price of $18.82 and a two-hundred day moving average price of $18.61.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of NAMS. Banque Cantonale Vaudoise bought a new stake in NewAmsterdam Pharma during the 2nd quarter valued at $38,000. Quarry LP raised 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 valued at $108,000 after buying an additional 6,247 shares during the last quarter. Barclays PLC increased its stake in shares of NewAmsterdam Pharma by 1,813.4% in the 3rd quarter. Barclays PLC now owns 7,596 shares of the company’s stock valued at $126,000 after purchasing an additional 7,199 shares in the last quarter. Bellevue Group AG purchased a new position in shares of NewAmsterdam Pharma in the 3rd quarter valued at about $128,000. Finally, XTX Topco Ltd acquired a new stake in NewAmsterdam Pharma in the 3rd quarter worth about $187,000. 89.89% of the stock is currently 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.