Candriam Luxembourg S.C.A. Grows Stock Holdings in NGM Biopharmaceuticals (NYSE:NGM)

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Candriam Luxembourg S.C.A. raised its position in shares of NGM Biopharmaceuticals (NYSE:NGM) by 56.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 242,000 shares of the company’s stock after purchasing an additional 87,000 shares during the period. Candriam Luxembourg S.C.A.’s holdings in NGM Biopharmaceuticals were worth $4,475,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NGM. BlackRock Inc. purchased a new stake in NGM Biopharmaceuticals during the second quarter valued at about $4,696,000. Vanguard Group Inc. bought a new position in shares of NGM Biopharmaceuticals during the second quarter valued at about $2,457,000. Northern Trust Corp bought a new position in shares of NGM Biopharmaceuticals during the second quarter valued at about $675,000. Essex Investment Management Co. LLC bought a new position in shares of NGM Biopharmaceuticals during the third quarter valued at about $621,000. Finally, State Street Corp grew its stake in shares of NGM Biopharmaceuticals by 45.7% during the third quarter. State Street Corp now owns 129,820 shares of the company’s stock valued at $1,798,000 after buying an additional 40,725 shares during the last quarter.

Shares of NYSE:NGM opened at $16.77 on Friday. The stock’s 50-day moving average price is $17.69 and its 200-day moving average price is $15.68. NGM Biopharmaceuticals has a 12-month low of $8.81 and a 12-month high of $20.50.

NGM Biopharmaceuticals (NYSE:NGM) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.28) by $0.11. The company had revenue of $21.57 million for the quarter, compared to the consensus estimate of $17.50 million.

A number of brokerages have recently issued reports on NGM. Stifel Nicolaus reaffirmed a “buy” rating and set a $26.00 price objective on shares of NGM Biopharmaceuticals in a research note on Wednesday, December 4th. B. Riley reaffirmed a “buy” rating and set a $24.00 price objective on shares of NGM Biopharmaceuticals in a research note on Tuesday. Zacks Investment Research raised NGM Biopharmaceuticals from a “sell” rating to a “hold” rating in a research note on Wednesday, February 5th. Finally, Citigroup reaffirmed a “buy” rating and set a $31.00 price objective on shares of NGM Biopharmaceuticals in a research note on Tuesday, December 10th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. NGM Biopharmaceuticals presently has an average rating of “Buy” and an average target price of $24.50.

In related news, insider Jin-Long Chen sold 18,641 shares of the firm’s stock in a transaction dated Thursday, January 9th. The stock was sold at an average price of $17.95, for a total value of $334,605.95. Following the sale, the insider now directly owns 1,012,783 shares of the company’s stock, valued at $18,179,454.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Group L. P. Column bought 44,900 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The stock was acquired at an average cost of $15.47 per share, for a total transaction of $694,603.00. The disclosure for this purchase can be found here.

NGM Biopharmaceuticals Company Profile

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.

Further Reading: Risk Tolerance

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Institutional Ownership by Quarter for NGM Biopharmaceuticals (NYSE:NGM)

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