Insider Buying: NGM Biopharmaceuticals (NYSE:NGM) Major Shareholder Purchases $1,684,075.14 in Stock

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.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of Montreal Can raised its stake in NGM Biopharmaceuticals by 412.9% in the 4th quarter. Bank of Montreal Can now owns 3,072 shares of the company’s stock valued at $57,000 after acquiring an additional 2,473 shares during the period. Sowell Financial Services LLC bought a new stake in NGM Biopharmaceuticals in the 4th quarter valued at $61,000. SG Americas Securities LLC bought a new stake in NGM Biopharmaceuticals in the 4th quarter valued at $101,000. Citigroup Inc. raised its stake in NGM Biopharmaceuticals by 2,944.2% in the 4th quarter. Citigroup Inc. now owns 10,046 shares of the company’s stock valued at $186,000 after acquiring an additional 9,716 shares during the period. Finally, Strs Ohio raised its stake in NGM Biopharmaceuticals by 638.9% in the 4th quarter. Strs Ohio now owns 13,300 shares of the company’s stock valued at $245,000 after acquiring an additional 11,500 shares during the period.

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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