NGM Biopharmaceuticals (NYSE:NGM) major shareholder Group L. P. Column acquired 143,082 shares of the business’s stock in a transaction dated Friday, March 20th. The stock was bought at an average cost of $11.77 per share, with a total value of $1,684,075.14. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
NYSE NGM opened at $13.33 on Thursday. NGM Biopharmaceuticals has a 12 month low of $8.81 and a 12 month high of $22.95. The stock has a 50 day moving average of $15.71 and a 200-day moving average of $15.69.
NGM Biopharmaceuticals (NYSE:NGM) last posted its quarterly earnings results on Tuesday, March 17th. The company reported ($0.24) earnings per share for the quarter, beating analysts’ consensus estimates 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.
Several research firms have recently commented on NGM. Zacks Investment Research raised NGM Biopharmaceuticals from a “hold” rating to a “buy” rating and set a $13.00 price objective for the company in a report on Thursday, March 19th. Citigroup increased their price objective on NGM Biopharmaceuticals from $31.00 to $34.00 and gave the company a “buy” rating in a report on Tuesday, February 25th. Stifel Nicolaus cut their price objective on NGM Biopharmaceuticals from $33.00 to $32.00 and set a “buy” rating for the company in a report on Thursday, March 19th. Cowen reissued a “buy” rating and issued a $30.00 price objective on shares of NGM Biopharmaceuticals in a report on Monday. Finally, B. Riley reissued a “buy” rating and issued a $30.00 price objective on shares of NGM Biopharmaceuticals in a report on Thursday, March 19th. Six research analysts have rated the stock with a buy rating, The stock has a consensus rating of “Buy” and an average price target 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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