Insider Selling: NewAmsterdam Pharma (NASDAQ:NAMS) Insider Sells 50,000 Shares of Stock

Key Points

• NewAmsterdam Pharma insider Johannes Jacob Piete Kastelein sold 50,000 shares at an average price of $24.29, amounting to $1,214,500, resulting in a 29.53% decrease in ownership.
• The company's stock is currently down 1.2% and is trading at $24.70, with a 52-week range between $14.06 and $27.29.
• Research analysts have a consensus rating of ‘Moderate Buy’ for NewAmsterdam Pharma, with an average target price of $41.55.

NewAmsterdam Pharma Company N.V. (NASDAQ:NAMS - Get Free Report) insider Johannes Jacob Piete Kastelein sold 50,000 shares of the firm's stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $24.29, for a total value of $1,214,500.00. Following the transaction, the insider directly owned 119,302 shares in the company, valued at $2,897,845.58. This trade represents a 29.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

NewAmsterdam Pharma Stock Down 1.2%

Shares of NAMS traded down $0.30 during trading hours on Monday, hitting $24.70. The company had a trading volume of 488,007 shares, compared to its average volume of 871,766. NewAmsterdam Pharma Company N.V. has a 52-week low of $14.06 and a 52-week high of $27.29. The stock's 50 day moving average price is $21.70 and its 200 day moving average price is $20.20. The firm has a market cap of $2.78 billion, a P/E ratio of -15.25 and a beta of -0.02.

NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.52) by $0.37. The business had revenue of $19.15 million for the quarter, compared to analyst estimates of $1.44 million. NewAmsterdam Pharma had a negative return on equity of 27.27% and a negative net margin of 259.07%. On average, research analysts expect that NewAmsterdam Pharma Company N.V. will post -1.75 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently commented on NAMS. Wall Street Zen raised shares of NewAmsterdam Pharma from a "sell" rating to a "hold" rating in a research note on Saturday, July 5th. Needham & Company LLC reissued a "buy" rating and issued a $40.00 price target on shares of NewAmsterdam Pharma in a report on Thursday, June 12th. Cantor Fitzgerald assumed coverage on shares of NewAmsterdam Pharma in a research note on Wednesday, June 4th. They set an "overweight" rating and a $42.00 price objective for the company. Royal Bank Of Canada increased their target price on shares of NewAmsterdam Pharma from $38.00 to $39.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. Finally, Wells Fargo & Company assumed coverage on NewAmsterdam Pharma in a report on Monday. They set an "overweight" rating and a $45.00 price target on the stock. Nine investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, NewAmsterdam Pharma currently has a consensus rating of "Moderate Buy" and an average target price of $41.55.

Institutional Investors Weigh In On NewAmsterdam Pharma

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NAMS. Duquesne Family Office LLC lifted its position in NewAmsterdam Pharma by 4.0% during the second quarter. Duquesne Family Office LLC now owns 832,175 shares of the company's stock valued at $15,071,000 after buying an additional 31,815 shares during the period. Exome Asset Management LLC bought a new position in shares of NewAmsterdam Pharma in the 2nd quarter worth about $662,000. Frazier Life Sciences Management L.P. lifted its position in NewAmsterdam Pharma by 3.0% during the 2nd quarter. Frazier Life Sciences Management L.P. now owns 16,607,074 shares of the company's stock valued at $300,754,000 after acquiring an additional 490,656 shares during the period. BNP Paribas Financial Markets lifted its position in NewAmsterdam Pharma by 4.5% during the 2nd quarter. BNP Paribas Financial Markets now owns 29,277 shares of the company's stock valued at $530,000 after acquiring an additional 1,257 shares during the period. Finally, Adage Capital Partners GP L.L.C. boosted its stake in NewAmsterdam Pharma by 54.5% during the second quarter. Adage Capital Partners GP L.L.C. now owns 3,013,009 shares of the company's stock worth $54,566,000 after acquiring an additional 1,062,359 shares in the last quarter. 89.89% of the stock is 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.

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