In a recent move, Forbion Capital Fund IV Cooperatief UA executed a series of sell-offs involving shares of NewAmsterdam Pharma Co NV (NASDAQ:NAMS), worth approximately $2.3 million. The transactions, which occurred between December 20 and December 24, 2024, included the sale of a total of 91,068 common shares. The stock has shown notable momentum, returning 132% year to date, with shares currently trading near its 52-week high of $27.29.
Shares were sold at prices ranging from $25.4904 to $26.1274. Following these transactions, Forbion Capital Fund IV and its affiliated entities, including ForGrowth NAP BV and Forbion Growth Opportunities Fund I Cooperatief UA, now own a total of 10,760,928 shares in NewAmsterdam Pharma. according to InvestingPro According to the data, analyst price targets for NAMS range from $29.12 to $52.55, indicating potential upside from current levels.
These sales were made under a Rule 10b5-1 trading plan, a prearranged plan that allows large shareholders to sell a predetermined number of shares at a predetermined time, which helps avoid concerns about insider trading. Access to 13 additional InvestingPro Comprehensive financial advice and analysis for NAMS and over 1,400 other stocks.
In other recent news, NewAmsterdam Pharma Co NV has made significant strides in its clinical trials. The company's lead drug candidate, obicetrapib, has shown positive results in a phase 3 clinical trial, showing a significant reduction in LDL-C, or bad cholesterol, in patients with hyperlipidemia. In addition, the drug demonstrated a 21% reduction in major adverse cardiovascular events (MACE) within 1 year of oral monotherapy. These results yielded Scotiabank (TSX:) to increase the probability of approval of obicetrapib from 70% to 90%.
NewAmsterdam also announced positive results from the BROADWAY and TANDEM trials, leading to an increase in price targets by Leerink Partners and Scotiabank. The company also announced the termination of a $150 million share sale plan and restated its financial statements for the years ending in 2022 and 2021 due to specific errors in calculating the net loss per common share.
The company welcomed new board members Mark C. McKenna and Wouter Jiustra. Looking ahead, New Amsterdam is preparing for the Phase 3 HORIZON trial of belacarsen in 2025 and a readout of the Phase 3 Broadway trial, expected in 2024. These are the latest developments for NewAmsterdam Pharma Co NV.
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