NGM Biopharmaceuticals (NYSE:NGM) Trading Up 6.2%

NGM Biopharmaceuticals (NYSE:NGM) shares were up 6.2% during trading on Monday . The stock traded as high as $17.55 and last traded at $17.50, approximately 300,861 shares traded hands during trading. An increase of 146% from the average daily volume of 122,496 shares. The stock had previously closed at $16.48.

Several research analysts have recently commented on NGM shares. B. Riley started coverage on shares of NGM Biopharmaceuticals in a report on Thursday, October 17th. They set a “buy” rating and a $24.00 target price on the stock. Zacks Investment Research raised shares of NGM Biopharmaceuticals from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a report on Tuesday, August 27th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $26.00 target price on shares of NGM Biopharmaceuticals in a report on Wednesday, August 14th. Six equities research analysts have rated the stock with a buy rating, The stock presently has an average rating of “Buy” and an average price target of $24.17.

The business’s 50 day moving average is $13.74 and its 200-day moving average is $14.27.

NGM Biopharmaceuticals (NYSE:NGM) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.11. The firm had revenue of $21.57 million during the quarter, compared to the consensus estimate of $17.50 million.

In related news, insider Jin-Long Chen sold 50,765 shares of NGM Biopharmaceuticals stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $12.67, for a total value of $643,192.55. Also, Director Peter Svennilson acquired 84,939 shares of the firm’s stock in a transaction that occurred on Monday, October 21st. The stock was purchased at an average cost of $11.75 per share, for a total transaction of $998,033.25. Over the last three months, insiders purchased 264,922 shares of company stock worth $2,872,650 and sold 101,691 shares worth $3,074,961.

A number of large investors have recently made changes to their positions in the stock. Svennilson Peter bought a new position in NGM Biopharmaceuticals in the second quarter valued at approximately $229,762,000. RHO Capital Partners Inc. acquired a new stake in NGM Biopharmaceuticals in the second quarter valued at approximately $55,144,000. Royal Bank of Canada acquired a new stake in NGM Biopharmaceuticals in the second quarter valued at approximately $17,691,000. Rock Springs Capital Management LP acquired a new stake in NGM Biopharmaceuticals in the second quarter valued at approximately $5,140,000. Finally, Jasper Ridge Partners L.P. acquired a new stake in NGM Biopharmaceuticals in the second quarter valued at approximately $5,109,000.

About NGM Biopharmaceuticals (NYSE:NGM)

NGM Biopharmaceuticals, Inc, a clinical-stage biopharmaceutical company, engages in the discovery and development of novel therapeutics for the treatment of cardio-metabolic, liver, oncologic, and ophthalmic diseases. The company's product candidates include NGM282, an engineered variant of the FGF19 human hormone in Phase 2 clinical trials for the treatment of non-alcoholic steatohepatitis (NASH); NGM313, an agonistic antibody that selectively activates fibroblast growth factor receptor 1c-beta-klotho, which is in Phase 1b early proof-of-concept clinical trials for use in the treatment of type 2 diabetes and NASH; and NGM386 and NGM395, which are engineered variants of the GDF15 human hormone for use in the treatment of obesity.

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