On Jan. 04, Chen Jin-Long divested U.S. $732,116 in shares of NGM Biopharmaceuticals Inc.. The Chief Scientific Officer sold 25,000 shares at a price per share of $29.28. The transaction decreased this specific insider’s holdings to 1,020,005 shares worth around $28.2 million at present.
Piper Sandler launched its NGM Biopharmaceuticals Inc. [NGM] rating to the equivalent of an Overweight and assigned the price target of $30, in a research note dated July 31, 2020. That figure represents around a 7.83% premium from where the company’s shares closed on Wednesday. Some new analysts also started their coverage, with Piper Sandler’s analysts assigning the shares to “an Overweight” rating in a research note to investors issued in late July. Meanwhile, Chardan Capital Markets had launched its coverage on NGM with “Buy”, in a research note produced for clients July 07, 2020. In addition, there was a new coverage from BMO Capital Markets on June 05, 2020. The research firm rated NGM “an Outperform”.
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Is NGM Biopharmaceuticals Inc. [NASDAQ:NGM] a Good Buy Right Now?
It should be noted that NGM technical indicators for short, intermediate as well as long term progress have placed an overall average of 80% as Buy. The average signal changed from 100% Buy in the last week and compares with 88% Buy in the past month. Data from NGM Biopharmaceuticals Inc.’s Trend Spotter indicated that the signals were Rising. The stock current average is 0.43 million shares in the past 20 days and the short term average signal indicates a 50% Buy. In the last 50 days, the average trading volume was 0.26 million shares while the medium term average advocated for 100% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 0.21 million shares.
NGM Price Performance
On Wall Street, NGM Biopharmaceuticals Inc. [NASDAQ:NGM] finished Wednesday’s session down -1.21% at $27.65. The stock went up to $28.09 at the same session while its lowest single day price was $26.24. In the last five days, it saw a fall of about -12.05%, NGM Biopharmaceuticals Inc. shares dropped by almost -8.73% since the beginning of the year. However, the share price has dropped to as low as -13.73% below its one year high. On 01/04/21, the company shares recorded $30.26, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/06/21, the same year at $26.24. The company’s shares have inclined by 50.60% in the past year. The 50-day SMA achieved is $23.98 while the 200-day SMA is $19.68. Volume gained to 2.7 million from 0.76 million in the previous session.
NGM Biopharmaceuticals Inc. [NGM] Valuation Measures
Notably, NGM Biopharmaceuticals Inc. [NGM] stock can be helpful for investors to consider historical price-sales ratio, more specifically, a 19.64 PS value ratio is reported for the last one year of reported earnings. That is lower than the industry average of 20.33.
NGM Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 26.56 level, and in case of violation of this particular level, it will cause more drop to 25.48 level. On the upper level, 29.18 is still the key resistance. The stock may increase to the subsequent resistance at 28.41. The Relative Strength Index (RSI) pinned on the 14-day chart is 51.43, implying a neutral technical stance while the MACD stands at -1.40, meaning price will decrease in the next trading period. Percent R indicator moved to 75.73%, implying bearish price movement. Stochastic %K at 32.33% suggest holding the stock.
What is the short interest in NGM Biopharmaceuticals Inc.?
Short interest in the NGM Biopharmaceuticals Inc. stock has surged, increasing by 0.21 million shares to total 3.69 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 3.9 million, data from Yahoo Finance shows. The decrease of -5.69% suggests the stock saw some decreased bullish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 15.07% of the overall float for the stock.
NGM Biopharmaceuticals Inc.’s Biggest Shareholders: Who Owns NGM Biopharmaceuticals Inc. [NGM]?
Filings by BlackRock Fund Advisors showed that the firm now holds a total of 2,058,506 shares or roughly 2.98% of the outstanding NGM shares. This means their shares have increased by 148,613 from the 2,058,506 the investor reportedly held in its prior 13-F filing. With the conclusion of the purchase, Point72 Asset Management LP updated stake is worth $38,200,845. Details in the latest 13F filings reveal that The Vanguard Group, Inc. acquired their 2.85% stake valued at $33,193,628 while Aquilo Capital Management LLC cut theirs at $24,134,516. During the last quarter, The Vanguard Group, Inc. raised 38,777 of its shares in NGM Biopharmaceuticals Inc. while Aquilo Capital Management LLC sold -76,850 shares. The SSgA Funds Management, Inc.’s holdings currently number 441,700 shares at $12213005.0. According to the firm’s last 13F report, Rock Springs Capital Management L shares in the company at filing stood at 360,454 shares, roughly $8,542,760.
NGM Earnings Forecast For The Current Quarter
NGM Biopharmaceuticals Inc. [NGM] is expected to report weak earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $21.5M and an earnings per share of -$0.46 for Dec 2020. Looking further ahead, the company is expected to report revenue of $22.35M at an EPS of -$0.44 for Mar 2021. The estimates represent downside of 7.80% and -16.00% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
NGM Earnings Estimates For The Current Year
For the financial year, NGM Biopharmaceuticals Inc. [NASDAQ:NGM] is expected to bring in revenue of $89.62M. The returns are nearly $-13.92 million lower than the company’s actual revenue recorded in the fiscal year 2019. In terms of EPS for the 2020, estimate put it at -1.62, lower than that of FY19 by -$0.77. Estimates put this year’s earnings growth at -90.60%, -16.00% for the next. As for sales, forecasts are for a decrease of -13.40% in the current fiscal year and a further 7.80% over the following year.
What are analyst thoughts on NGM Biopharmaceuticals Inc.?
Looking forward to the NGM Biopharmaceuticals Inc. share price prediction, we can see that analysts, surveyed by FactSet, offer the mean price target for NGM Biopharmaceuticals Inc. stock at $32.00 within the next 12 months, which represents almost 13.59 per cent growth from its previous closing price of $27.65. The highest analysts’ target for NGM Biopharmaceuticals Inc. stock projections is $44.00 and the lowest one is $28.00. Still, 9 analysts sharing their consensus rating for NGM stock in 2021 agree that it is a Buy.