Insider Selling: NewAmsterdam Pharma (NASDAQ:NAMS) Major Shareholder Sells 33,438 Shares of Stock

NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report) major shareholder Nap B.V. Forgrowth sold 33,438 shares of NewAmsterdam Pharma stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $26.01, for a total value of $869,722.38. Following the sale, the insider now owns 10,727,490 shares of the company's stock, valued at approximately $279,022,014.90. This represents a 0.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own 10% or more of a company's shares are required to disclose their transactions with the SEC.

Nap B.V. Forgrowth also recently made the following trade(s):

• On Monday, December 23rd, Nap B.V. Forgrowth sold 25,132 shares of NewAmsterdam Pharma stock. The shares were sold at an average price of $25.49, for a total transaction of $640,614.68.
• On Friday, December 20th, Nap B.V. Forgrowth sold 49,772 shares of NewAmsterdam Pharma stock. The stock was sold at an average price of $25.60, for a total transaction of $1,274,163.20.
• On Wednesday, December 18th, Nap B.V. Forgrowth sold 100,728 shares of NewAmsterdam Pharma stock. The shares were sold at an average price of $26.10, for a total transaction of $2,629,000.80.
• On Thursday, December 12th, Nap B.V. Forgrowth sold 166,011 shares of NewAmsterdam Pharma stock. The stock was sold at an average price of $25.39, for a total transaction of $4,215,019.29.
• On Monday, November 18th, Nap B.V. Forgrowth sold 33,273 shares of NewAmsterdam Pharma stock. The stock was sold at an average price of $25.08, for a total value of $834,486.84.
• On Friday, November 15th, Nap B.V. Forgrowth sold 8,530 shares of NewAmsterdam Pharma stock. The shares were sold at an average price of $25.02, for a total value of $213,420.60.

NewAmsterdam Pharma Stock Performance

NASDAQ NAMS traded down $0.26 during midday trading on Monday, hitting $25.60. The company had a trading volume of 339,913 shares, compared to its average volume of 377,810. The firm has a fifty day simple moving average of $21.99 and a two-hundred day simple moving average of $19.17. NewAmsterdam Pharma has a fifty-two week low of $11.18 and a fifty-two week high of $27.29.

Analysts Set New Price Targets

Several brokerages have commented on NAMS. HC Wainwright started coverage on NewAmsterdam Pharma in a report on Monday. They set a "buy" rating and a $48.00 price target on the stock. Piper Sandler reaffirmed an "overweight" rating and set a $37.00 price objective on shares of NewAmsterdam Pharma in a report on Monday, September 23rd. Scotiabank lifted their target price on shares of NewAmsterdam Pharma from $35.00 to $47.00 and gave the stock a "sector outperform" rating in a report on Wednesday, December 11th. Royal Bank of Canada restated an "outperform" rating and set a $31.00 price target on shares of NewAmsterdam Pharma in a report on Thursday, September 5th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $36.00 price target on shares of NewAmsterdam Pharma in a research report on Thursday, December 5th. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat, NewAmsterdam Pharma currently has a consensus rating of "Buy" and a consensus target price of $38.17.

Hedge Funds Weigh In On NewAmsterdam Pharma

Large investors have recently added to or reduced their stakes in the company. Banque Cantonale Vaudoise bought a new stake in shares of NewAmsterdam Pharma during the second quarter valued at approximately $38,000. Quarry LP boosted its stake in NewAmsterdam Pharma by 2,469.2% during the third quarter. Quarry LP now owns 6,500 shares of the company's stock worth $108,000 after buying an additional 6,247 shares in the last quarter. Barclays PLC increased its holdings in 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 buying an additional 7,199 shares during the period. Bellevue Group AG acquired a new position in shares of NewAmsterdam Pharma in the 3rd quarter valued at $128,000. Finally, XTX Topco Ltd bought a new position in shares of NewAmsterdam Pharma during the 3rd quarter worth about $187,000. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.