NGM Biopharmaceuticals (NASDAQ:NGM) Trading Down 1.3%

NGM Biopharmaceuticals, Inc. (NASDAQ:NGM)’s share price traded down 1.3% during mid-day trading on Monday . The stock traded as low as $1.54 and last traded at $1.54. 2,390,800 shares changed hands during trading, an increase of 63% from the average session volume of 1,467,160 shares. The stock had previously closed at $1.56.

Analyst Upgrades and Downgrades

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

NGM Biopharmaceuticals Stock Performance

The company’s fifty day moving average price is $1.56 and its 200 day moving average price is $1.20. The firm has a market capitalization of $128.53 million, a price-to-earnings ratio of -0.90 and a beta of 1.27.

NGM Biopharmaceuticals (NASDAQ:NGM) last posted its quarterly earnings results on Monday, March 11th. The company reported ($0.33) EPS for the quarter, beating the consensus estimate of ($0.37) by $0.04. The business had revenue of $0.17 million during the quarter, compared to analyst estimates of $2.00 million. NGM Biopharmaceuticals had a negative net margin of 3,223.34% and a negative return on equity of 77.85%. As a group, sell-side analysts expect that NGM Biopharmaceuticals, Inc. will post -0.93 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. FMR LLC lifted its stake in shares of NGM Biopharmaceuticals by 61.8% in the 2nd 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 period. BlackRock Inc. raised its holdings in shares of NGM Biopharmaceuticals by 12.8% in the 2nd quarter. BlackRock Inc. now owns 4,633,005 shares of the company’s stock worth $11,999,000 after purchasing an additional 526,863 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of NGM Biopharmaceuticals by 14.6% in the 3rd quarter. Vanguard Group Inc. now owns 3,899,297 shares of the company’s stock worth $51,003,000 after purchasing an additional 496,089 shares in the last quarter. Woodline Partners LP bought a new stake in shares of NGM Biopharmaceuticals in the 1st quarter worth approximately $7,183,000. Finally, First Light Asset Management LLC raised its holdings in shares of NGM Biopharmaceuticals by 43.0% in the 1st quarter. First Light Asset Management LLC now owns 816,653 shares of the company’s stock worth $12,454,000 after purchasing an additional 245,755 shares in the last quarter. 75.74% of the stock is owned by institutional investors and hedge funds.

About NGM Biopharmaceuticals

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.