Group L. P. Column Buys 103,000 Shares of NGM Biopharmaceuticals (NYSE:NGM) Stock
NGM Biopharmaceuticals (NYSE:NGM) major shareholder Group L. P. Column acquired 103,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The shares were bought at an average cost of $10.87 per share, for a total transaction of $1,119,610.00. Major 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 $0.59 on Thursday, hitting $10.87. The company’s stock had a trading volume of 204,200 shares, compared to its average volume of 107,190. The firm’s 50-day moving average price is $14.65. NGM Biopharmaceuticals has a 1 year low of $8.81 and a 1 year high of $19.27.
NGM Biopharmaceuticals (NYSE:NGM) last released its quarterly earnings results on Monday, August 12th. The company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.84) by $0.71. The business had revenue of $25.34 million during the quarter, compared to analysts’ expectations of $19.00 million.
NGM has been the topic of a number of recent research reports. Zacks Investment Research raised NGM Biopharmaceuticals from a “hold” rating to a “buy” rating and set a $19.00 price objective on the stock in a report on Tuesday, August 27th. B. Riley initiated coverage on NGM Biopharmaceuticals in a report on Thursday. They set a “buy” rating and a $24.00 price objective on the stock. Finally, Stifel Nicolaus reissued a “buy” rating and set a $26.00 price objective on shares of NGM Biopharmaceuticals in a report on Wednesday, August 14th. Six analysts have rated the stock with a buy rating, The company presently has a consensus rating of “Buy” and an average price target of $24.17.
NGM Biopharmaceuticals Company Profile
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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