Raymond James Financial Services Advisors Inc. Purchases 22,199 Shares of NGM Biopharmaceuticals, Inc. (NASDAQ:NGM)

Raymond James Financial Services Advisors Inc. lifted its position in NGM Biopharmaceuticals, Inc. (NASDAQ:NGM – Get Rating) by 35.4% during the 3rd quarter, HoldingsChannel reports. The firm owned 84,886 shares of the company’s stock after acquiring an additional 22,199 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in NGM Biopharmaceuticals were worth $1,110,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Column Group LLC increased its holdings in shares of NGM Biopharmaceuticals by 11.6% in the second quarter. Column Group LLC now owns 18,136,735 shares of the company’s stock worth $232,513,000 after purchasing an additional 1,890,918 shares during the last quarter. Vanguard Group Inc. increased its stake in NGM Biopharmaceuticals by 1.6% during the first quarter. Vanguard Group Inc. now owns 3,014,475 shares of the company’s stock worth $45,971,000 after acquiring an additional 47,238 shares during the last quarter. BlackRock Inc. increased its stake in NGM Biopharmaceuticals by 2.1% during the first quarter. BlackRock Inc. now owns 2,839,674 shares of the company’s stock worth $43,306,000 after acquiring an additional 58,883 shares during the last quarter. FMR LLC increased its stake in NGM Biopharmaceuticals by 61.8% during the second quarter. FMR LLC now owns 2,060,533 shares of the company’s stock worth $26,416,000 after acquiring an additional 787,347 shares during the last quarter. Finally, First Light Asset Management LLC increased its stake in NGM Biopharmaceuticals by 39.1% during the second quarter. First Light Asset Management LLC now owns 1,135,884 shares of the company’s stock worth $14,562,000 after acquiring an additional 319,231 shares during the last quarter. 64.55% of the stock is owned by institutional investors.

NGM Biopharmaceuticals Stock Up 1.6 %

NGM Biopharmaceuticals stock opened at $5.09 on Friday. The business has a fifty day moving average of $5.19 and a two-hundred day moving average of $10.13. The firm has a market cap of $415.99 million, a P/E ratio of -2.61 and a beta of 1.23. NGM Biopharmaceuticals, Inc. has a twelve month low of $2.92 and a twelve month high of $18.25.

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

Insider Transactions at NGM Biopharmaceuticals

In other NGM Biopharmaceuticals news, Director Group L. P. Column purchased 51,046 shares of NGM Biopharmaceuticals stock in a transaction dated Tuesday, October 25th. The shares were acquired at an average cost of $4.75 per share, with a total value of $242,468.50. Following the completion of the transaction, the director now owns 51,046 shares in the company, valued at approximately $242,468.50. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, insider Jin-Long Chen sold 85,082 shares of the company’s stock in a transaction on Tuesday, January 17th. The stock was sold at an average price of $5.15, for a total transaction of $438,172.30. Following the transaction, the insider now directly owns 908,893 shares of the company’s stock, valued at $4,680,798.95. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Group L. P. Column purchased 51,046 shares of NGM Biopharmaceuticals stock in a transaction dated Tuesday, October 25th. The shares were acquired at an average cost of $4.75 per share, for a total transaction of $242,468.50. Following the completion of the transaction, the director now owns 51,046 shares of the company’s stock, valued at approximately $242,468.50. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 373,758 shares of company stock valued at $1,827,939. Corporate insiders own 38.10% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on NGM. Piper Sandler reduced their price objective on NGM Biopharmaceuticals to $4.00 in a research note on Thursday, October 20th. Cowen reduced their price objective on NGM Biopharmaceuticals from $32.00 to $9.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 18th. Cowen cut their target price on NGM Biopharmaceuticals from $32.00 to $9.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 18th. B. Riley cut their target price on NGM Biopharmaceuticals from $29.00 to $8.00 in a research note on Monday, October 17th. Finally, The Goldman Sachs Group cut NGM Biopharmaceuticals from a “buy” rating to a “neutral” rating and cut their target price for the company from $29.00 to $4.00 in a research note on Monday, October 17th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, NGM Biopharmaceuticals presently has an average rating of “Moderate Buy” and a consensus target price of $9.00.

NGM Biopharmaceuticals Profile

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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.