NewAmsterdam Pharma Co N.V. (NASDAQ:NAMS) Chief Scientific Officer, Johannes Jacob Pieter Kastelein, has recently engaged in significant trading activity involving the company's stocks, according to the latest SEC filings. Kastelein sold a total of 190,476 ordinary shares at a price of $21.50 each, totaling approximately $4.1 million. Additionally, Kastelein exercised options to acquire 201,673 shares, though no monetary transaction was reported for this particular action.
The sale occurred on March 26, 2024, and was executed in multiple transactions at the stated price. It was noted that the shares were sold under an exemption in a lock-up agreement dated February 12, 2024, to satisfy certain tax liabilities. The detailed information regarding the number of shares sold in each transaction has been made available upon request.
On the same day, Kastelein also reported the withholding of 11,197 ordinary shares to satisfy the exercise price of the options, valued at $22.72 per share, amounting to a total transaction value of $254,395.
The transactions have resulted in Kastelein no longer holding any ordinary shares directly. However, it's important to note that the ordinary shares are held indirectly through Futurum B.V. via NAP PoolCo B.V. for Kastelein's benefit. Kastelein maintains sole voting and investment control over the shares held by Futurum through PoolCo, which itself has no voting or investment control or pecuniary interest in the shares.
Investors and interested parties can find complete details of the transactions in the company's Form 4 filing with the Securities and Exchange Commission.
InvestingPro Insights
As NewAmsterdam Pharma Co N.V. (NASDAQ:NAMS) navigates through the current fiscal year, the company's financial health and market performance are under close scrutiny. With a market capitalization of approximately $2.03 billion, NewAmsterdam Pharma stands as a significant player in its sector. The company's Price to Earnings (P/E) ratio, a key metric for investors, is currently negative at -10.50, reflecting the company's lack of profitability over the last twelve months, as of Q4 2023. This is further emphasized by an adjusted P/E ratio of -12.06.
The company's revenue has seen a sharp decline of 86.28% over the last twelve months as of Q4 2023, which aligns with an InvestingPro Tip suggesting that analysts anticipate a sales decline in the current year. Despite this, NewAmsterdam Pharma has experienced a significant price uptick, with a 102.86% return over the last three months and a 149.67% return over the last six months, indicating strong market performance in the short term.
Another InvestingPro Tip highlights that the company holds more cash than debt on its balance sheet, which is a positive sign for potential investors looking for a company with a strong liquidity position. This is particularly relevant given that the company's liquid assets exceed its short-term obligations.
For those interested in gaining a deeper understanding of NewAmsterdam Pharma's financials and market outlook, additional InvestingPro Tips are available. There are 11 more tips listed on InvestingPro, which can be accessed at https://www.investing.com/pro/NAMS. To enhance your investing strategy, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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