NGM Biopharmaceuticals (NYSE:NGM) major shareholder Group L. P. Column acquired 301,180 shares of the stock in a transaction dated Wednesday, March 25th. The stock was acquired at an average cost of $13.33 per share, with a total value of $4,014,729.40. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.
Shares of NYSE:NGM traded up $0.56 on Thursday, hitting $13.89. 4,997 shares of the company were exchanged, compared to its average volume of 355,872. NGM Biopharmaceuticals has a 1-year low of $8.81 and a 1-year high of $22.95. The stock’s 50 day moving average price is $15.71 and its 200 day moving average price is $15.69.
NGM Biopharmaceuticals (NYSE:NGM) last announced its quarterly earnings data 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 company had revenue of $31.08 million for the quarter, compared to analysts’ expectations of $5.00 million.
Several brokerages recently weighed in on NGM. Stifel Nicolaus dropped their target price on NGM Biopharmaceuticals from $33.00 to $32.00 and set a “buy” rating on the stock in a research note on Thursday, March 19th. Zacks Investment Research upgraded 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 raised their price target on NGM Biopharmaceuticals from $31.00 to $34.00 and gave the stock a “buy” rating in a report on Tuesday, February 25th. Cowen restated a “buy” rating and set a $30.00 price target on shares of NGM Biopharmaceuticals in a research note on Monday. Finally, B. Riley restated a “buy” rating and set a $30.00 price objective on shares of NGM Biopharmaceuticals in a report on Thursday, March 19th. Six investment analysts have rated the stock with a buy rating, The stock presently has a consensus rating of “Buy” and a consensus price target of $26.83.
A number of institutional investors and hedge funds have recently modified their holdings of NGM. Sunbelt Securities Inc. purchased a new stake in NGM Biopharmaceuticals during the 4th quarter valued at about $7,165,000. Bank of Montreal Can raised its stake in shares of NGM Biopharmaceuticals by 412.9% in the fourth quarter. Bank of Montreal Can now owns 3,072 shares of the company’s stock worth $57,000 after purchasing an additional 2,473 shares during the last quarter. Sowell Financial Services LLC purchased a new position in shares of NGM Biopharmaceuticals in the fourth quarter worth about $61,000. SG Americas Securities LLC acquired a new stake in shares of NGM Biopharmaceuticals during the fourth quarter worth about $101,000. Finally, Citigroup Inc. lifted its holdings in shares of NGM Biopharmaceuticals by 2,944.2% during the fourth quarter. Citigroup Inc. now owns 10,046 shares of the company’s stock worth $186,000 after purchasing an additional 9,716 shares during the period.
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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