NewAmsterdam Pharma (NASDAQ:NAMS) Insider Sells 50,246 Shares of Stock

NewAmsterdam Pharma Company N.V. (NASDAQ:NAMS) insider Johannes Kastelein sold 50,246 shares of the firm’s stock in a transaction on Wednesday, September 30th. The stock was sold at an average price of $25.03, for a total transaction of $1,257,657.38. Following the sale, the insider owned 69,302 shares in the company, valued at approximately $1,734,629.06. The trade was a 42.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Johannes Jacob Piete Kastelein also recently made the following trade(s):

• On Monday, August 24th, Johannes Kastelein sold 125,000 shares of NewAmsterdam Pharma stock. The stock was sold at an average price of $26.91, for a total value of $3,363,750.00.

NewAmsterdam Pharma Price Performance

Shares of NAMS traded down $0.96 during midday trading on Friday, hitting $23.20. The stock had a trading volume of 1,547,726 shares, compared to its average volume of 1,137,666. The firm has a market cap of $2.77 billion, a price-to-earnings ratio of -10.74 and a beta of 0.10. The company has a 50 day simple moving average of $25.69 and a two-hundred day simple moving average of $30.28. NewAmsterdam Pharma Company N.V. has a twelve month low of $21.02 and a twelve month high of $42.21.

NewAmsterdam Pharma (NASDAQ:NAMS) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.04). The firm had revenue of $3.70 million for the quarter, compared to the consensus estimate of $2.83 million. NewAmsterdam Pharma had a negative return on equity of 34.81% and a negative net margin of 3,644.21%. Analysts forecast that NewAmsterdam Pharma Company N.V. will post -1.82 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on NAMS. HC Wainwright reissued a “buy” rating and set a $52.00 price target on shares of NewAmsterdam Pharma in a research report on Tuesday, September 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of NewAmsterdam Pharma in a research note on Friday, July 17th. BMO Capital Markets began coverage on shares of NewAmsterdam Pharma in a research note on Monday, July 20th. They issued an “outperform” rating and a $58.00 target price for the company. Royal Bank Of Canada lowered their target price on shares of NewAmsterdam Pharma from $51.00 to $50.00 and set an “outperform” rating on the stock in a report on Thursday, August 6th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $45.00 price target on shares of NewAmsterdam Pharma in a research report on Monday, July 20th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $49.73.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in NAMS. Frazier Life Sciences Management L.P. raised its holdings in NewAmsterdam Pharma by 6.8% in the 2nd quarter. Frazier Life Sciences Management L.P. now owns 18,088,902 shares of the company’s stock valued at $613,033,000 after acquiring an additional 1,145,128 shares in the last quarter. Castle Hook Partners LP bought a new position in shares of NewAmsterdam Pharma in the fourth quarter worth $38,062,000. Bank of America Corp DE raised its stake in NewAmsterdam Pharma by 84.4% in the first quarter. Bank of America Corp DE now owns 847,089 shares of the company’s stock valued at $27,115,000 after purchasing an additional 387,698 shares in the last quarter. Artia Global Partners LP lifted its position in NewAmsterdam Pharma by 158.6% during the fourth quarter. Artia Global Partners LP now owns 503,936 shares of the company’s stock worth $17,678,000 after purchasing an additional 309,098 shares during the period. Finally, Maverick Capital Ltd. lifted its position in NewAmsterdam Pharma by 15.4% during the first quarter. Maverick Capital Ltd. now owns 2,186,402 shares of the company’s stock worth $69,987,000 after purchasing an additional 292,176 shares during the period. Institutional investors own 89.89% of the company’s stock.

About NewAmsterdam Pharma

NewAmsterdam Pharma is a clinical-stage biopharmaceutical company focused on developing therapies for cardiometabolic diseases, with an emphasis on improving the treatment of dyslipidemia and reducing cardiovascular risk. The company’s lead investigational product is obicetrapib, an oral cholesteryl ester transfer protein (CETP) inhibitor designed to lower low-density lipoprotein cholesterol and potentially address other lipid-related abnormalities.

Obicetrapib is being studied as an adjunct to existing lipid-lowering therapies, including in patients who have not achieved adequate cholesterol control and people with heterozygous familial hypercholesterolemia.