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Michael Davidson, the Chief Executive Officer of NewAmsterdam Pharma Co N.V. (NASDAQ:NAMS), a $2.39 billion market cap pharmaceutical company, recently engaged in a series of stock transactions as reported in a recent SEC Form 4 filing. On March 26, Davidson sold 12,258 ordinary shares of the company, generating approximately $281,000. The shares were sold at prices ranging from $22.88 to $23.22 each, slightly above the current trading price of $21.76. According to InvestingPro data, the stock has shown strong momentum with a 38% gain over the past six months.
In addition to the sale, Davidson acquired 30,992 ordinary shares at no cost, as part of earnout shares issued under a business combination agreement. Furthermore, he acquired and subsequently exercised 38,394 restricted stock units (RSUs), also at no cost, with the RSUs being fully vested upon grant. Following these transactions, Davidson holds 390,441 shares directly. While the company maintains a strong liquidity position with a current ratio of 8.08, analysts have set price targets ranging from $36.69 to $53.56, suggesting potential upside from current levels. InvestingPro subscribers can access 8 additional key insights about NAMS’s financial health and growth prospects.
In other recent news, NewAmsterdam Pharma has been actively preparing for the regulatory submissions of its cholesterol-lowering drug candidate, obicetrapib, following a robust financial standing with a reported cash balance of $835 million. The company is set to present additional data from its Phase 3 trials, including BROADWAY, which demonstrated a significant reduction in major adverse cardiovascular events. Analysts from Scotiabank (TSX:BNS) have increased the price target for NewAmsterdam Pharma to $52, citing positive data from these trials and the company’s solid financial health. H.C. Wainwright has also initiated coverage with a Buy rating and a $48 price target, highlighting obicetrapib’s potential to become a leading treatment for patients not achieving cholesterol goals with statins alone.
The ongoing PREVAIL trial aims to confirm the major adverse cardiac events benefit, with expectations of a 25% or greater improvement. NewAmsterdam is also advancing its manufacturing and inventory capabilities to support the U.S. and European launches of obicetrapib, pending regulatory approval. The company’s strategic priorities are aligned with improving care for patients with metabolic diseases, as cardiovascular disease remains a leading cause of death globally. The extension of intellectual property rights for obicetrapib to 2043 enhances its commercial prospects, providing a longer market exclusivity period. These developments position NewAmsterdam Pharma as a company to watch as it moves towards commercialization of its promising drug.
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