NGM Biopharmaceuticals (NYSE:NGM) major shareholder Group L. P. Column bought 301,180 shares of NGM Biopharmaceuticals stock in a transaction dated Wednesday, March 25th. The shares were bought at an average cost of $13.33 per share, for a total transaction of $4,014,729.40. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.
NYSE NGM traded up $0.25 on Wednesday, hitting $13.33. 324,800 shares of the company’s stock were exchanged, compared to its average volume of 355,872. The stock has a 50-day moving average of $15.71 and a 200-day moving average of $15.69. NGM Biopharmaceuticals has a 52 week low of $8.81 and a 52 week high of $22.95.
NGM Biopharmaceuticals (NYSE:NGM) last issued its quarterly earnings results on Tuesday, March 17th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.26) by $0.02. The business had revenue of $31.08 million during the quarter, compared to the consensus estimate of $5.00 million.
A number of research analysts recently commented on the company. Zacks Investment Research raised NGM Biopharmaceuticals from a “hold” rating to a “buy” rating and set a $13.00 price target for the company in a research note on Thursday, March 19th. Citigroup increased their price objective on shares of NGM Biopharmaceuticals from $31.00 to $34.00 and gave the stock a “buy” rating in a research note on Tuesday, February 25th. Stifel Nicolaus reduced their price objective on shares of NGM Biopharmaceuticals from $33.00 to $32.00 and set a “buy” rating on the stock in a research note on Thursday, March 19th. B. Riley reissued a “buy” rating and issued a $30.00 target price on shares of NGM Biopharmaceuticals in a report on Thursday, March 19th. Finally, Cowen restated a “buy” rating and issued a $30.00 target price on shares of NGM Biopharmaceuticals in a research report on Monday. Six equities research analysts have rated the stock with a buy rating, NGM Biopharmaceuticals has an average rating of “Buy” and an average target price of $26.83.
About NGM Biopharmaceuticals
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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