NGM Biopharmaceuticals, Inc. (NASDAQ:NGM – Get Rating) was the recipient of a large drop in short interest in the month of April. As of April 15th, there was short interest totalling 1,780,000 shares, a drop of 16.4% from the March 31st total of 2,130,000 shares. Approximately 7.2% of the shares of the stock are sold short. Based on an average trading volume of 255,400 shares, the short-interest ratio is currently 7.0 days.
A number of research analysts recently commented on NGM shares. Raymond James downgraded NGM Biopharmaceuticals from a “strong-buy” rating to an “outperform” rating in a research note on Wednesday, March 2nd. Zacks Investment Research raised shares of NGM Biopharmaceuticals from a “sell” rating to a “hold” rating in a report on Wednesday, March 9th. Finally, Piper Sandler lifted their price objective on shares of NGM Biopharmaceuticals from $30.00 to $32.00 in a research note on Friday, January 7th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $31.57.
Several large investors have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC raised its holdings in NGM Biopharmaceuticals by 139.6% in the 4th quarter. Nisa Investment Advisors LLC now owns 6,921 shares of the company’s stock valued at $109,000 after buying an additional 4,032 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of NGM Biopharmaceuticals by 383.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,968 shares of the company’s stock worth $177,000 after purchasing an additional 7,907 shares during the period. Alliancebernstein L.P. grew its stake in shares of NGM Biopharmaceuticals by 97.2% in the third quarter. Alliancebernstein L.P. now owns 71,576 shares of the company’s stock worth $1,505,000 after purchasing an additional 35,276 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in NGM Biopharmaceuticals by 334.9% in the third quarter. Goldman Sachs Group Inc. now owns 251,485 shares of the company’s stock valued at $5,286,000 after purchasing an additional 193,662 shares during the period. Finally, Exane Derivatives raised its position in NGM Biopharmaceuticals by 2,163.4% during the 4th quarter. Exane Derivatives now owns 2,105 shares of the company’s stock worth $37,000 after purchasing an additional 2,012 shares during the last quarter. Institutional investors own 58.50% of the company’s stock.
NGM Biopharmaceuticals (NASDAQ:NGM – Get Rating) last announced its quarterly earnings results on Tuesday, March 1st. The company reported ($0.35) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.37) by $0.02. The company had revenue of $20.96 million during the quarter, compared to analysts’ expectations of $20.13 million. NGM Biopharmaceuticals had a negative return on equity of 32.92% and a negative net margin of 154.51%. As a group, equities analysts predict that NGM Biopharmaceuticals will post -2.13 earnings per share for the current fiscal year.
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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