NGM Biopharmaceuticals (NYSE:NGM) Shares Up 5.2%

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Shares of NGM Biopharmaceuticals (NYSE:NGM) shot up 5.2% during trading on Wednesday . The stock traded as high as $15.77 and last traded at $15.72, 152,072 shares changed hands during mid-day trading. An increase of 48% from the average session volume of 102,629 shares. The stock had previously closed at $14.95.

Several research firms recently commented on NGM. Citigroup began coverage on shares of NGM Biopharmaceuticals in a research note on Monday, April 29th. They issued a “buy” rating and a $29.00 price target on the stock. Cowen restated a “buy” rating and issued a $25.00 price target on shares of NGM Biopharmaceuticals in a research note on Monday, May 20th. Stifel Nicolaus restated a “buy” rating and issued a $26.00 price target on shares of NGM Biopharmaceuticals in a research note on Wednesday, August 14th. Finally, Goldman Sachs Group began coverage on shares of NGM Biopharmaceuticals in a research note on Monday, April 29th. They issued a “buy” rating and a $22.00 price target on the stock.

The stock has a 50-day moving average price of $14.21.

NGM Biopharmaceuticals (NYSE:NGM) last posted its quarterly earnings data on Monday, August 12th. The company reported ($0.13) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.84) by $0.71. The firm had revenue of $25.34 million for the quarter, compared to the consensus estimate of $19.00 million.

In other news, major shareholder Group L. P. Column acquired 224,664 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was acquired at an average price of $14.00 per share, with a total value of $3,145,296.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Peter Svennilson acquired 29,760 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The shares were purchased at an average cost of $14.05 per share, with a total value of $418,128.00. The disclosure for this purchase can be found here. Insiders have purchased 597,893 shares of company stock valued at $8,245,610 in the last ninety days.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada bought a new position in shares of NGM Biopharmaceuticals in the 2nd quarter worth $17,691,000. Svennilson Peter bought a new position in shares of NGM Biopharmaceuticals in the 2nd quarter worth $229,762,000. Victory Capital Management Inc. bought a new position in shares of NGM Biopharmaceuticals in the 2nd quarter worth $1,870,000. Citadel Advisors LLC bought a new position in shares of NGM Biopharmaceuticals in the 2nd quarter worth $289,000. Finally, Pentwater Capital Management LP bought a new position in shares of NGM Biopharmaceuticals in the 2nd quarter worth $309,000.

About NGM Biopharmaceuticals (NYSE:NGM)

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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