Forbion Capital Fund IV Sells $2.3M in NewAmsterdam Pharma Stock From Investing.com

Forbion Capital Fund IV Cooperatief UA recently completed a series of sales of NewAmsterdam Pharma Co NV (NASDAQ:NAMS) shares worth approximately $2.3 million. The transactions occurred between December 20 and December 24, 2024 and involve the sale of a total of 91,068 shares of common stock. The stock is showing impressive performance with a year-to-date return of 132% and is currently trading near its 52-week high of $27.29.

The shares were sold at prices between $25.4904 and $26.1274. Following these transactions, Forbion Capital Fund IV and its affiliates, including ForGrowth NAP BV and Forbion Growth Opportunities Fund I Cooperatief UA, hold a total of 10,760,928 shares in NewAmsterdam Pharma. According to InvestingPro data, analysts’ price targets for NAMS range from $29.12 to $52.55, suggesting further upside potential.

The sales are made pursuant to a Rule 10b5-1 trading plan. This predetermined plan allows major shareholders to sell a specific number of shares at a set time to address potential insider trading concerns. For comprehensive financial analysis on NAMS and over 1,400 other stocks as well as 13 additional InvestingPro tips, those interested can access InvestingPro.

In other recent developments, NewAmsterdam Pharma Co NV recorded significant progress in its clinical trials. The promising drug candidate obicetrapib demonstrated positive results in reducing LDL cholesterol in patients with hyperlipidemia in phase 3 trials. Additionally, a 21% reduction in major cardiovascular events (MACE) was observed within one year of oral monotherapy. These encouraging results led Scotiabank to increase the approval probability for obicetrapib from 70% to 90%.

NewAmsterdam’s BROADWAY and TANDEM studies also delivered positive results, prompting Leerink Partners and Scotiabank to raise their price targets. The company also announced the termination of a $150 million stock sale plan and restated its 2022 and 2021 financial statements due to errors in the calculation of net loss per common share.

NewAmsterdam welcomed two new board members, Mark C. McKenna and Wouter Joustra. In the near future, the company is preparing for the Phase 3 HORIZON study of pelacarsen in 2025 and the completion of the Phase 3 BROADWAY study, the results of which are expected in 2024. These developments underline NewAmsterdam Pharma Co NV’s dynamic positioning in the field of innovative drug discovery.

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