NGM Biopharmaceuticals (NASDAQ:NGM) Trading Up 10.9%

NGM Biopharmaceuticals, Inc. (NASDAQ:NGM)’s share price was up 10.9% during trading on Monday . The company traded as high as $25.91 and last traded at $25.91. Approximately 3,094 shares were traded during mid-day trading, a decline of 99% from the average daily volume of 352,357 shares. The stock had previously closed at $23.36.

A number of analysts have recently commented on NGM shares. Piper Sandler boosted their price objective on NGM Biopharmaceuticals from $20.00 to $30.00 and gave the company an “overweight” rating in a research report on Friday, August 6th. Cowen boosted their price target on NGM Biopharmaceuticals from $20.00 to $32.00 and gave the stock an “outperform” rating in a research report on Monday, August 9th. Stifel Nicolaus dropped their price target on NGM Biopharmaceuticals from $43.00 to $22.00 and set a “buy” rating for the company in a research report on Monday, May 24th. Zacks Investment Research cut NGM Biopharmaceuticals from a “hold” rating to a “sell” rating in a research report on Friday, August 13th. Finally, Raymond James upgraded NGM Biopharmaceuticals from an “outperform” rating to a “strong-buy” rating and boosted their price target for the stock from $27.00 to $39.00 in a research report on Monday. One research analyst has rated the stock with a sell rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $34.55.

The stock has a 50 day simple moving average of $21.93 and a two-hundred day simple moving average of $23.69. The company has a market cap of $2.02 billion, a price-to-earnings ratio of -15.67 and a beta of 2.02.

NGM Biopharmaceuticals (NASDAQ:NGM) last announced its quarterly earnings results on Thursday, August 5th. The company reported ($0.48) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.35) by ($0.13). NGM Biopharmaceuticals had a negative net margin of 149.51% and a negative return on equity of 36.71%. The business had revenue of $16.77 million during the quarter, compared to analyst estimates of $22.08 million. Equities analysts forecast that NGM Biopharmaceuticals, Inc. will post -1.64 earnings per share for the current fiscal year.

In other news, insider Jin-Long Chen sold 15,000 shares of the company’s stock in a transaction on Monday, August 9th. The stock was sold at an average price of $24.46, for a total value of $366,900.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 45.90% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD purchased a new stake in shares of NGM Biopharmaceuticals in the 1st quarter valued at $11,031,000. Geode Capital Management LLC raised its holdings in shares of NGM Biopharmaceuticals by 32.6% in the 1st quarter. Geode Capital Management LLC now owns 458,313 shares of the company’s stock valued at $13,323,000 after buying an additional 112,796 shares during the period. Redmile Group LLC purchased a new stake in shares of NGM Biopharmaceuticals in the 1st quarter valued at $79,995,000. Dimensional Fund Advisors LP raised its holdings in shares of NGM Biopharmaceuticals by 46.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 70,932 shares of the company’s stock valued at $2,150,000 after buying an additional 22,500 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of NGM Biopharmaceuticals in the 1st quarter valued at $57,000. Hedge funds and other institutional investors own 55.72% of the company’s stock.

About NGM Biopharmaceuticals (NASDAQ:NGM)

NGM Biopharmaceuticals, Inc is a clinical-stage biopharmaceutical company, which engages in the discovery and development of therapeutics for cardio-metabolic, liver, oncologic, and ophthalmic diseases. Its lead product candidate, aldafermin, is designed for the treatment of patients with non-alcoholic steatohepatitis, with liver fibrosis stage 2, 3, or 4.

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