NGM Biopharmaceuticals (NASDAQ:NGM) Stock Price Down 1.3%

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Raymond James downgraded shares of NGM Biopharmaceuticals from an “outperform” rating to a “market perform” rating in a research note on Tuesday, March 12th. B. Riley downgraded shares of NGM Biopharmaceuticals from a “buy” rating to a “neutral” rating in a research note on Wednesday, February 28th. Citigroup reaffirmed a “neutral” rating on shares of NGM Biopharmaceuticals in a research note on Tuesday, February 27th. Finally, 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.

NGM Biopharmaceuticals Trading Down 1.3 %

The company’s 50 day moving average is $1.56 and its 200 day moving average is $1.21. The company has a market cap of $128.53 million, a PE ratio of -0.90 and a beta of 1.27.

NGM Biopharmaceuticals (NASDAQ:NGM) last issued its 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. NGM Biopharmaceuticals had a negative net margin of 3,223.34% and a negative return on equity of 77.85%. The company had revenue of $0.17 million for the quarter, compared to analysts’ expectations of $2.00 million. Analysts expect that NGM Biopharmaceuticals, Inc. will post -0.93 EPS for the current year.

Institutional Trading of NGM Biopharmaceuticals

A number of institutional investors have recently modified their holdings of the company. Jasper Ridge Partners L.P. boosted its stake in NGM Biopharmaceuticals by 0.3% in the 1st quarter. Jasper Ridge Partners L.P. now owns 311,250 shares of the company’s stock worth $4,747,000 after purchasing an additional 1,000 shares in the last quarter. Point72 Hong Kong Ltd raised its position in NGM Biopharmaceuticals by 102.8% during the 1st quarter. Point72 Hong Kong Ltd now owns 2,034 shares of the company’s stock worth $31,000 after buying an additional 1,031 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in NGM Biopharmaceuticals by 7.5% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 20,440 shares of the company’s stock worth $262,000 after buying an additional 1,425 shares during the last quarter. BNP Paribas Arbitrage SNC raised its position in NGM Biopharmaceuticals by 13.4% during the 3rd quarter. BNP Paribas Arbitrage SNC now owns 17,092 shares of the company’s stock worth $224,000 after buying an additional 2,014 shares during the last quarter. Finally, Royal Bank of Canada boosted its stake in NGM Biopharmaceuticals by 353.2% during the 3rd quarter. Royal Bank of Canada now owns 3,195 shares of the company’s stock worth $41,000 after purchasing an additional 2,490 shares during the last quarter. 75.74% of the stock is currently owned by institutional investors.

NGM Biopharmaceuticals Company 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.