RHO Capital Partners Inc. Acquires New Position in NGM Biopharmaceuticals (NYSE:NGM)

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RHO Capital Partners Inc. acquired a new stake in shares of NGM Biopharmaceuticals (NYSE:NGM) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 3,766,667 shares of the company’s stock, valued at approximately $55,144,000. NGM Biopharmaceuticals makes up about 38.3% of RHO Capital Partners Inc.’s investment portfolio, making the stock its 2nd largest position. RHO Capital Partners Inc. owned about 0.06% of NGM Biopharmaceuticals at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in NGM. Candriam Luxembourg S.C.A. purchased a new position in NGM Biopharmaceuticals during the second quarter valued at approximately $1,968,000. JPMorgan Chase & Co. purchased a new position in NGM Biopharmaceuticals during the second quarter valued at approximately $27,000. Jasper Ridge Partners L.P. purchased a new position in NGM Biopharmaceuticals during the second quarter valued at approximately $5,109,000. Artal Group S.A. purchased a new position in NGM Biopharmaceuticals during the second quarter valued at approximately $1,464,000. Finally, Charles Schwab Investment Management Inc. purchased a new position in NGM Biopharmaceuticals during the second quarter valued at approximately $564,000.

NGM stock traded down $0.01 during trading hours on Friday, hitting $15.86. The company’s stock had a trading volume of 30,384 shares, compared to its average volume of 99,055. NGM Biopharmaceuticals has a 12 month low of $12.00 and a 12 month high of $19.27. The stock has a 50 day moving average of $15.44.

NGM Biopharmaceuticals (NYSE:NGM) last posted its earnings results on Monday, August 12th. The company reported ($0.13) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.84) by $0.71. The business had revenue of $25.34 million during the quarter, compared to the consensus estimate of $19.00 million.

A number of research analysts recently commented on the stock. 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. Stifel Nicolaus reissued a “buy” rating and issued a $26.00 target price on shares of NGM Biopharmaceuticals in a research report on Wednesday, August 14th. Finally, Cowen reissued a “buy” rating and issued a $25.00 target price on shares of NGM Biopharmaceuticals in a research report on Monday, May 20th. Five analysts have rated the stock with a buy rating, The company has an average rating of “Buy” and an average target price of $24.20.

In other news, major shareholder Group L. P. Column acquired 67,742 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was acquired at an average cost of $13.49 per share, with a total value of $913,839.58. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Group L. P. Column acquired 224,664 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were purchased at an average cost of $14.00 per share, with a total value of $3,145,296.00. The disclosure for this purchase can be found here. Insiders acquired 519,433 shares of company stock valued at $7,166,912 over the last three months.

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: Front-End Load

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

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