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Douglas F. Kling, Chief Operating Officer of NewAmsterdam Pharma Co. N.V. (NASDAQ:NAMS), a biopharmaceutical company with a market capitalization of $2 billion, recently sold a significant portion of his holdings in the company. According to InvestingPro analysis, the stock appears overvalued at current levels, with 8 additional exclusive insights available to subscribers. According to a recent SEC filing, Kling sold a total of 100,000 ordinary shares over two days, February 18 and 19, 2025. The transactions were executed at prices ranging from $19.23 to $20.38 per share, totaling approximately $1.8 million. The stock has declined 25.6% year-to-date, with analysts setting price targets between $35.63 and $52.84.
The sales were conducted under a pre-arranged trading plan in accordance with Rule 10b5-1, which allows company insiders to sell a predetermined number of shares at a predetermined time. Following these transactions, Kling now holds 44,000 shares of the company directly.
In addition to the sales, Kling also exercised options to acquire 100,000 ordinary shares at an exercise price of 1.16392 euros, although these transactions did not involve any cash outlay as the exercise price was effectively zero. The options were part of a grant replacing previous options that were canceled due to NewAmsterdam Pharma’s business combination with Frazier Lifesciences Acquisition Corporation.
Investors may want to keep an eye on further filings to monitor insider activity within the company. For comprehensive analysis and detailed insights, access the full InvestingPro Research Report, which provides in-depth coverage of NewAmsterdam Pharma’s financial health, valuation metrics, and growth prospects.
In other recent news, NewAmsterdam Pharma Company N.V. has reported positive results from its Phase 3 clinical trials for its cholesterol-lowering drug, obicetrapib. The BROADWAY trial demonstrated a 33% reduction in low-density lipoprotein cholesterol (LDL-C) levels, along with a 21% decrease in major adverse cardiovascular events (MACE) compared to placebo. These findings have led to increased optimism, with Scotiabank (TSX:BNS) raising its price target for the company to $47, citing the drug’s strong clinical performance. H.C. Wainwright has also issued a Buy rating, emphasizing obicetrapib’s potential to become a preferred treatment for patients not achieving cholesterol goals with statins alone.
Additionally, NewAmsterdam Pharma has halted its $150 million share sale plan, originally filed under an Automatic Teller Machine (ATM) Prospectus. The decision was communicated to Cowen and Company, LLC and TD Securities (USA) LLC, although the company has not disclosed reasons for the suspension. Meanwhile, NewAmsterdam is preparing for global regulatory submissions for obicetrapib, supported by a robust cash balance reported at the end of the previous year. The company is also focusing on commercial readiness, establishing manufacturing capacity to support potential U.S. and European launches. These developments mark significant steps for NewAmsterdam Pharma as it continues to advance its strategic priorities for 2025.
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