NGM Biopharmaceuticals, Inc. (NASDAQ:NGM) Director Group L. P. Column Buys 35,997 Shares of Stock

NGM Biopharmaceuticals, Inc. (NASDAQ:NGMGet Rating) Director Group L. P. Column acquired 35,997 shares of the firm’s stock in a transaction dated Monday, November 21st. The stock was bought at an average price of $5.00 per share, with a total value of $179,985.00. Following the completion of the acquisition, the director now directly owns 375,842 shares of the company’s stock, valued at $1,879,210. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

NGM Biopharmaceuticals Stock Performance

NASDAQ:NGM traded down $0.01 during trading hours on Thursday, hitting $5.33. 229,835 shares of the company’s stock traded hands, compared to its average volume of 713,531. The stock’s fifty day moving average price is $8.54 and its two-hundred day moving average price is $12.42. The firm has a market cap of $435.62 million, a P/E ratio of -2.73 and a beta of 1.23. NGM Biopharmaceuticals, Inc. has a twelve month low of $2.92 and a twelve month high of $19.21.

NGM Biopharmaceuticals (NASDAQ:NGMGet Rating) last released its earnings results on Thursday, November 3rd. The company reported ($0.59) earnings per share for the quarter, beating the consensus estimate of ($0.61) by $0.02. The company had revenue of $7.91 million for the quarter, compared to analysts’ expectations of $7.02 million. NGM Biopharmaceuticals had a negative return on equity of 50.12% and a negative net margin of 264.09%. On average, equities research analysts predict that NGM Biopharmaceuticals, Inc. will post -2.11 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Steward Partners Investment Advisory LLC acquired a new stake in shares of NGM Biopharmaceuticals during the 1st quarter valued at $31,000. Point72 Hong Kong Ltd raised its holdings in shares of NGM Biopharmaceuticals by 102.8% during the first quarter. Point72 Hong Kong Ltd now owns 2,034 shares of the company’s stock worth $31,000 after acquiring an additional 1,031 shares in the last quarter. Royal Bank of Canada boosted its position in NGM Biopharmaceuticals by 353.2% during the third quarter. Royal Bank of Canada now owns 3,195 shares of the company’s stock valued at $41,000 after purchasing an additional 2,490 shares during the last quarter. Amalgamated Bank acquired a new stake in NGM Biopharmaceuticals during the first quarter valued at $60,000. Finally, Tower Research Capital LLC TRC grew its stake in NGM Biopharmaceuticals by 154.1% in the third quarter. Tower Research Capital LLC TRC now owns 5,674 shares of the company’s stock valued at $74,000 after purchasing an additional 3,441 shares in the last quarter. 85.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NGM has been the subject of a number of research analyst reports. Cowen cut their target price on NGM Biopharmaceuticals from $32.00 to $9.00 and set an “outperform” rating for the company in a research report on Tuesday, October 18th. Piper Sandler decreased their price target on shares of NGM Biopharmaceuticals to $4.00 in a research report on Thursday, October 20th. The Goldman Sachs Group downgraded NGM Biopharmaceuticals from a “buy” rating to a “neutral” rating and cut their price objective for the company from $29.00 to $4.00 in a research report on Monday, October 17th. Raymond James lowered NGM Biopharmaceuticals from a “strong-buy” rating to an “outperform” rating and reduced their price objective for the stock from $42.00 to $4.00 in a research note on Monday, October 17th. Finally, Cowen cut their target price on NGM Biopharmaceuticals from $32.00 to $9.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 18th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $9.00.

About NGM Biopharmaceuticals

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NGM Biopharmaceuticals, Inc, a biopharmaceutical company, engages in the discovery and development of novel therapeutics to treat liver and metabolic diseases, retinal diseases, and cancer. The company's product candidates include Aldafermin, an engineered analog of human hormone fibroblast growth factor 19, which is in Phase IIb clinical trials for the treatment of non-alcoholic steatohepatitis (NASH); and MK-3655, an agonistic antibody that activates fibroblast growth factor receptor 1c-beta-klotho, which is in Phase IIb clinical trials for use in the treatment of type 2 diabetes and NASH.

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