NGM Biopharmaceuticals, Inc. (NASDAQ:NGM – Get Rating) has been given an average recommendation of “Buy” by the six analysts that are covering the firm, MarketBeat reports. Five investment analysts have rated the stock with a buy rating. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $32.60.
Several research analysts have recently weighed in on the stock. The Goldman Sachs Group lowered their price objective on shares of NGM Biopharmaceuticals from $34.00 to $29.00 and set a “buy” rating on the stock in a research note on Tuesday, May 24th. Raymond James lowered shares of NGM Biopharmaceuticals from a “strong-buy” rating to an “outperform” rating in a research note on Wednesday, March 2nd.
Shares of NGM stock opened at $13.80 on Friday. The firm has a market capitalization of $1.09 billion, a P/E ratio of -8.52 and a beta of 1.78. The firm’s fifty day moving average price is $13.45 and its two-hundred day moving average price is $15.24. NGM Biopharmaceuticals has a 1 year low of $10.49 and a 1 year high of $27.25.
In other NGM Biopharmaceuticals news, Director Group L. P. Column acquired 984,161 shares of the business’s stock in a transaction on Thursday, June 9th. The stock was purchased at an average price of $13.50 per share, with a total value of $13,286,173.50. Following the acquisition, the director now directly owns 2,650,177 shares of the company’s stock, valued at approximately $35,777,389.50. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Group L. P. Column acquired 34,200 shares of the business’s stock in a transaction on Thursday, June 2nd. The stock was acquired at an average cost of $13.03 per share, with a total value of $445,626.00. Following the acquisition, the director now directly owns 1,698,493 shares in the company, valued at $22,131,363.79. The disclosure for this purchase can be found here. Insiders acquired a total of 1,394,261 shares of company stock valued at $18,377,237 in the last three months. Insiders own 38.10% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Point72 Hong Kong Ltd lifted its holdings in shares of NGM Biopharmaceuticals by 102.8% during the 1st 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 period. Woodline Partners LP bought a new stake in shares of NGM Biopharmaceuticals during the 1st quarter worth approximately $7,183,000. State Street Corp lifted its holdings in shares of NGM Biopharmaceuticals by 2.4% during the 1st quarter. State Street Corp now owns 691,506 shares of the company’s stock worth $10,545,000 after acquiring an additional 16,126 shares during the period. Invesco Ltd. lifted its holdings in shares of NGM Biopharmaceuticals by 6.4% during the 1st quarter. Invesco Ltd. now owns 55,238 shares of the company’s stock worth $842,000 after acquiring an additional 3,313 shares during the period. Finally, Silverarc Capital Management LLC bought a new stake in shares of NGM Biopharmaceuticals during the 1st quarter worth approximately $3,058,000. 58.50% of the stock is owned by institutional investors.
About NGM Biopharmaceuticals (Get Rating)
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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