NewAmsterdam Pharma (NASDAQ:NAMS) Insider Johannes Jacob Piete Kastelein Sells 50,000 Shares

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 stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $24.29, for a total value of $1,214,500.00. Following the transaction, the insider owned 119,302 shares of the company's stock, valued at $2,897,845.58. This represents a 29.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

NewAmsterdam Pharma Stock Performance

Shares of NASDAQ:NAMS traded up $0.10 on Friday, hitting $24.05. The stock had a trading volume of 850,991 shares, compared to its average volume of 811,932. The firm's 50 day moving average price is $22.29 and its 200-day moving average price is $20.36. NewAmsterdam Pharma Company N.V. has a twelve month low of $14.06 and a twelve month high of $27.29. The company has a market capitalization of $2.71 billion, a price-to-earnings ratio of -14.85 and a beta of -0.02.

NewAmsterdam Pharma (NASDAQ:NAMS - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.52) by $0.37. The firm had revenue of $19.15 million during the quarter, compared to the consensus estimate of $1.44 million. NewAmsterdam Pharma had a negative net margin of 259.07% and a negative return on equity of 27.27%. As a group, sell-side analysts predict that NewAmsterdam Pharma Company N.V. will post -1.75 EPS for the current year.

Analyst Upgrades and Downgrades

NAMS has been the topic of a number of research analyst reports. Citigroup began coverage on NewAmsterdam Pharma in a research report on Tuesday, June 17th. They set a "buy" rating and a $42.00 price target on the stock. Royal Bank Of Canada raised their target price on NewAmsterdam Pharma from $38.00 to $39.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. The Goldman Sachs Group assumed coverage on NewAmsterdam Pharma in a report on Thursday, July 17th. They issued a "neutral" rating and a $27.00 price target for the company. Wall Street Zen raised shares of NewAmsterdam Pharma from a "sell" rating to a "hold" rating in a report on Saturday, July 5th. Finally, Wells Fargo & Company assumed coverage on shares of NewAmsterdam Pharma in a research report on Monday, August 25th. They issued an "overweight" rating and a $45.00 price objective for the company. Nine investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $41.55.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. China Universal Asset Management Co. Ltd. grew its position in shares of NewAmsterdam Pharma by 2.4% during the 2nd quarter. China Universal Asset Management Co. Ltd. now owns 22,549 shares of the company's stock worth $408,000 after buying an additional 521 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of NewAmsterdam Pharma by 5.3% during the second quarter. The Manufacturers Life Insurance Company now owns 10,868 shares of the company's stock worth $197,000 after purchasing an additional 544 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of NewAmsterdam Pharma by 19.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,675 shares of the company's stock valued at $80,000 after buying an additional 596 shares in the last quarter. Quarry LP bought a new stake in shares of NewAmsterdam Pharma in the 1st quarter valued at $25,000. Finally, BNP Paribas Financial Markets raised its stake in NewAmsterdam Pharma by 4.5% during the 2nd quarter. BNP Paribas Financial Markets now owns 29,277 shares of the company's stock worth $530,000 after buying an additional 1,257 shares during the period. Institutional investors own 89.89% of the company's stock.

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.