Insider Buying: NGM Biopharmaceuticals, Inc. (NASDAQ:NGM) Director Acquires 37,639 Shares of Stock

NGM Biopharmaceuticals, Inc. (NASDAQ:NGMGet Rating) Director Group L. P. Column bought 37,639 shares of the stock in a transaction on Thursday, January 19th. The shares were purchased at an average price of $5.00 per share, with a total value of $188,195.00. Following the acquisition, the director now owns 732,559 shares in the company, valued at approximately $3,662,795. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

NGM Biopharmaceuticals Stock Performance

NGM Biopharmaceuticals stock traded down $0.07 during midday trading on Monday, reaching $5.02. 363,701 shares of the company’s stock were exchanged, compared to its average volume of 372,152. NGM Biopharmaceuticals, Inc. has a 52 week low of $2.92 and a 52 week high of $18.25. The firm has a market cap of $410.26 million, a price-to-earnings ratio of -2.61 and a beta of 1.23. The stock’s 50-day simple moving average is $5.18 and its 200 day simple moving average is $10.02.

NGM Biopharmaceuticals (NASDAQ:NGMGet Rating) last posted its quarterly earnings results on Thursday, November 3rd. The company reported ($0.59) EPS for the quarter, topping analysts’ consensus estimates of ($0.61) by $0.02. NGM Biopharmaceuticals had a negative return on equity of 50.12% and a negative net margin of 264.09%. The business had revenue of $7.91 million during the quarter, compared to analysts’ expectations of $7.02 million. Research analysts forecast that NGM Biopharmaceuticals, Inc. will post -2.11 earnings per share for the current year.

Institutional Investors Weigh In On NGM Biopharmaceuticals

Hedge funds have recently bought and sold shares of the stock. Point72 Hong Kong Ltd lifted its position in 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 during the last quarter. Royal Bank of Canada raised its position in shares of NGM Biopharmaceuticals by 353.2% in the third quarter. Royal Bank of Canada now owns 3,195 shares of the company’s stock valued at $41,000 after buying an additional 2,490 shares in the last quarter. Amalgamated Bank acquired a new stake in shares of NGM Biopharmaceuticals in the first quarter valued at approximately $60,000. Steward Partners Investment Advisory LLC raised its position in shares of NGM Biopharmaceuticals by 138.8% in the second quarter. Steward Partners Investment Advisory LLC now owns 4,817 shares of the company’s stock valued at $62,000 after buying an additional 2,800 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its position in shares of 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 buying an additional 3,441 shares in the last quarter. 64.55% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on NGM shares. Piper Sandler lowered their target price on NGM Biopharmaceuticals to $4.00 in a report on Thursday, October 20th. Jefferies Financial Group cut NGM Biopharmaceuticals from a “buy” rating to a “hold” rating in a report on Monday, October 17th. B. Riley decreased their price objective on NGM Biopharmaceuticals from $29.00 to $8.00 in a report on Monday, October 17th. The Goldman Sachs Group cut NGM Biopharmaceuticals from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $29.00 to $4.00 in a report on Monday, October 17th. Finally, Raymond James cut NGM Biopharmaceuticals from a “strong-buy” rating to an “outperform” rating and decreased their price objective for the company from $42.00 to $4.00 in a report on Monday, October 17th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, NGM Biopharmaceuticals has an average rating of “Moderate Buy” and an average price target 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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Insider Buying and Selling by Quarter for NGM Biopharmaceuticals (NASDAQ:NGM)

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