NGM Biopharmaceuticals (NYSE:NGM) shares shot up 9.3% during trading on Thursday . The company traded as high as $14.40 and last traded at $14.15, 230,453 shares were traded during trading. An increase of 99% from the average session volume of 115,813 shares. The stock had previously closed at $12.95.
A number of brokerages recently commented on NGM. Stifel Nicolaus reaffirmed a “buy” rating and set a $26.00 price objective on shares of NGM Biopharmaceuticals in a research report on Wednesday, August 14th. B. Riley began coverage on shares of NGM Biopharmaceuticals in a research report on Thursday, October 17th. They set a “buy” rating and a $24.00 price objective on the stock. Finally, Zacks Investment Research raised shares of NGM Biopharmaceuticals from a “hold” rating to a “buy” rating and set a $19.00 price objective on the stock in a research report on Tuesday, August 27th. Six research analysts have rated the stock with a buy rating, NGM Biopharmaceuticals has an average rating of “Buy” and an average price target of $24.17.
The stock’s 50-day moving average is $12.52 and its 200 day moving average is $14.19.
In related news, major shareholder Group L. P. Column sold 30,926 shares of the business’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $77.72, for a total transaction of $2,403,568.72. Also, Director Peter Svennilson bought 84,939 shares of NGM Biopharmaceuticals stock in a transaction on Monday, October 21st. The stock was acquired at an average price of $11.75 per share, with a total value of $998,033.25. Over the last ninety days, insiders have purchased 264,922 shares of company stock worth $2,872,650 and have sold 101,691 shares worth $3,074,961.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Essex Investment Management Co. LLC acquired a new stake in NGM Biopharmaceuticals in the third quarter valued at approximately $621,000. Nisa Investment Advisors LLC acquired a new stake in NGM Biopharmaceuticals in the third quarter valued at approximately $81,000. Royal Bank of Canada acquired a new stake in NGM Biopharmaceuticals in the second quarter valued at approximately $17,691,000. Svennilson Peter acquired a new stake in shares of NGM Biopharmaceuticals in the second quarter worth $229,762,000. Finally, Victory Capital Management Inc. acquired a new stake in shares of NGM Biopharmaceuticals in the second quarter worth $1,870,000.
About NGM Biopharmaceuticals (NYSE:NGM)
NGM Biopharmaceuticals, Inc, a clinical-stage biopharmaceutical company, engages in the discovery and development of novel therapeutics for the treatment of cardio-metabolic, liver, oncologic, and ophthalmic diseases. The company's product candidates include NGM282, an engineered variant of the FGF19 human hormone in Phase 2 clinical trials for the treatment of non-alcoholic steatohepatitis (NASH); NGM313, an agonistic antibody that selectively activates fibroblast growth factor receptor 1c-beta-klotho, which is in Phase 1b early proof-of-concept clinical trials for use in the treatment of type 2 diabetes and NASH; and NGM386 and NGM395, which are engineered variants of the GDF15 human hormone for use in the treatment of obesity.
Featured Story: What is diluted earnings per share (Diluted EPS)?
Receive News & Ratings for NGM Biopharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NGM Biopharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.