Federated Hermes Inc. Sells 240,208 Shares of NGM Biopharmaceuticals, Inc. (NASDAQ:NGM)

Federated Hermes Inc. decreased its position in NGM Biopharmaceuticals, Inc. (NASDAQ:NGM) by 41.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 345,381 shares of the company’s stock after selling 240,208 shares during the quarter. Federated Hermes Inc. owned 0.42% of NGM Biopharmaceuticals worth $297,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Mackenzie Financial Corp lifted its stake in shares of NGM Biopharmaceuticals by 40.3% during the 4th quarter. Mackenzie Financial Corp now owns 62,964 shares of the company’s stock worth $54,000 after acquiring an additional 18,084 shares during the last quarter. Exchange Traded Concepts LLC boosted its stake in shares of NGM Biopharmaceuticals by 34.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 107,019 shares of the company’s stock valued at $92,000 after purchasing an additional 27,137 shares during the period. Euclidean Capital LLC grew its holdings in shares of NGM Biopharmaceuticals by 32.9% in the third quarter. Euclidean Capital LLC now owns 992,168 shares of the company’s stock worth $1,062,000 after purchasing an additional 245,494 shares during the last quarter. Pale Fire Capital SE purchased a new position in NGM Biopharmaceuticals in the 3rd quarter worth about $36,000. Finally, Acadian Asset Management LLC lifted its holdings in NGM Biopharmaceuticals by 4.8% during the 3rd quarter. Acadian Asset Management LLC now owns 1,193,971 shares of the company’s stock valued at $1,276,000 after buying an additional 55,128 shares in the last quarter. Institutional investors own 75.74% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on NGM. Raymond James downgraded shares of NGM Biopharmaceuticals from an “outperform” rating to a “market perform” rating in a research note on Tuesday, March 12th. TD Cowen reiterated a “market perform” rating and issued a $1.55 target price (down from $4.00) on shares of NGM Biopharmaceuticals in a report on Wednesday, February 28th. B. Riley lowered NGM Biopharmaceuticals from a “buy” rating to a “neutral” rating in a research note on Wednesday, February 28th. Finally, Citigroup reaffirmed a “neutral” rating on shares of NGM Biopharmaceuticals in a research note on Tuesday, February 27th.

NGM Biopharmaceuticals Trading Down 1.3 %

Shares of NASDAQ:NGM opened at $1.54 on Friday. The company has a market capitalization of $128.53 million, a PE ratio of -0.90 and a beta of 1.27. The business’s fifty day simple moving average is $1.55 and its 200-day simple moving average is $1.24. NGM Biopharmaceuticals, Inc. has a 12-month low of $0.60 and a 12-month high of $4.69.

NGM Biopharmaceuticals (NASDAQ:NGM) last issued its quarterly earnings results on Monday, March 11th. The company reported ($0.33) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.37) by $0.04. The business had revenue of $0.17 million for the quarter, compared to analysts’ expectations of $2.00 million. NGM Biopharmaceuticals had a negative net margin of 3,223.34% and a negative return on equity of 77.85%. Research analysts predict that NGM Biopharmaceuticals, Inc. will post -0.93 EPS for the current year.

NGM Biopharmaceuticals Profile

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 develops NGM707, an immunoglobulin-like transcript 2/ immunoglobulin-like transcript 4 dual antagonist monoclonal antibody that is in Phase I/II clinical trials for the treatment of patients with advanced metastatic solid tumors; and Aldafermin, an engineered analog of human hormone fibroblast growth factor 19, which is in Phase IIb clinical trials for the treatment of primary sclerosing cholangitis and non-alcoholic steatohepatitis.