Jin-Long Chen Sells 15,000 Shares of NGM Biopharmaceuticals, Inc. (NASDAQ:NGM) Stock

NGM Biopharmaceuticals, Inc. (NASDAQ:NGM) insider Jin-Long Chen sold 15,000 shares of the firm’s stock in a transaction dated Monday, October 11th. The stock was sold at an average price of $20.41, for a total transaction of $306,150.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Jin-Long Chen also recently made the following trade(s):

  • On Monday, September 13th, Jin-Long Chen sold 15,000 shares of NGM Biopharmaceuticals stock. The shares were sold at an average price of $26.03, for a total transaction of $390,450.00.
  • On Monday, August 9th, Jin-Long Chen sold 15,000 shares of NGM Biopharmaceuticals stock. The stock was sold at an average price of $24.46, for a total transaction of $366,900.00.

NASDAQ NGM opened at $19.89 on Thursday. The stock’s 50-day moving average price is $22.10 and its two-hundred day moving average price is $22.67. The company has a market cap of $1.54 billion, a PE ratio of -11.91 and a beta of 2.02. NGM Biopharmaceuticals, Inc. has a 1 year low of $14.90 and a 1 year high of $32.12.

NGM Biopharmaceuticals (NASDAQ:NGM) last issued its earnings results on Thursday, August 5th. The company reported ($0.48) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.13). The business had revenue of $16.77 million during the quarter, compared to analyst estimates of $22.08 million. NGM Biopharmaceuticals had a negative net margin of 149.51% and a negative return on equity of 36.71%. On average, research analysts forecast that NGM Biopharmaceuticals, Inc. will post -1.62 earnings per share for the current fiscal year.

NGM has been the subject of a number of research reports. BMO Capital Markets lifted their price objective on shares of NGM Biopharmaceuticals from $29.00 to $35.00 and gave the stock an “outperform” rating in a report on Thursday, September 16th. B. Riley upped their price objective on shares of NGM Biopharmaceuticals from $32.00 to $35.00 and gave the stock a “buy” rating in a report on Tuesday, September 7th. Piper Sandler boosted their price target on shares of NGM Biopharmaceuticals from $20.00 to $30.00 and gave the stock an “overweight” rating in a research report on Friday, August 6th. Cowen boosted their price target on shares of NGM Biopharmaceuticals from $20.00 to $32.00 and gave the stock an “outperform” rating in a research report on Monday, August 9th. Finally, Zacks Investment Research upgraded NGM Biopharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday, September 16th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, NGM Biopharmaceuticals has an average rating of “Buy” and an average target price of $35.09.

Several institutional investors and hedge funds have recently modified their holdings of NGM. Redmile Group LLC acquired a new position in shares of NGM Biopharmaceuticals in the 1st quarter valued at about $79,995,000. BVF Inc. IL acquired a new position in shares of NGM Biopharmaceuticals in the 2nd quarter valued at about $18,833,000. Boxer Capital LLC acquired a new position in shares of NGM Biopharmaceuticals in the 2nd quarter valued at about $9,860,000. JPMorgan Chase & Co. increased its holdings in shares of NGM Biopharmaceuticals by 249.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 612,873 shares of the company’s stock valued at $12,086,000 after purchasing an additional 437,541 shares during the period. Finally, Point72 Asset Management L.P. increased its holdings in shares of NGM Biopharmaceuticals by 23.5% in the 1st quarter. Point72 Asset Management L.P. now owns 2,175,000 shares of the company’s stock valued at $63,227,000 after purchasing an additional 413,843 shares during the period. Institutional investors own 55.72% of the company’s stock.

About NGM Biopharmaceuticals

NGM Biopharmaceuticals, Inc is a clinical-stage biopharmaceutical company, which engages in the discovery and development of therapeutics for cardio-metabolic, liver, oncologic, and ophthalmic diseases. Its lead product candidate, aldafermin, is designed for the treatment of patients with non-alcoholic steatohepatitis, with liver fibrosis stage 2, 3, or 4.

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