The stock of NGM Biopharmaceuticals, Inc. (NASDAQ:NGM) is now priced at $19.1 and the shares are -0.08 points down or -0.42% lower compared to its previous closing price of $19.18. The stock had 99271 contracts set over the past session. NGM shares’ daily volume is compared to its average trading volume at 298112 shares. However, it has a float of 45.21 million and although its performance was 5.7% over the week, it’s one to watch. Analysts have given the NGM stock a yearly average price target of $31 per share. It means the stock’s upside potential is 62.3% with the NGM share price recently placing at $18.7872 to $19.59. However, some brokerage firms have priced the stock below the average, including one that has called $26.
The shorts are climbing into the NGM Biopharmaceuticals, Inc. stock, with the latest data on short interest released on June 30, 2020, showing that short interest numbers in the NGM shares have risen. Short interest in the stock represents just 8.21% of its float, but the volume has raised by 166783. The volume of shorted shares rised to 3.713 million from 3.547 million shares over the last two weeks. The average intraday trading volume has been 417095 shares, which means that days to cover moved to roughly 8.903228.
In the last trading session, NGM Biopharmaceuticals, Inc. (NASDAQ:NGM) raised by $1.03 over the week and lost -$2.81 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $23.95. The stock recorded its established 52-week high on 06/17/20.
Since 10/07/19, the stock has traded to a low of $8.81 at 116.8%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge.
Looking at current readings, NGM Biopharmaceuticals, Inc.’s two-week RSI is 43.81. This suggests that the stock is neutral at the moment and that NGM shares’ price movement remains stable. The stochastic readings are equally revealing at 27.82% meaning the NGM share price is currently in overbought territory.
The technical chart shows that the NGM stock will likely settle at between $19.53 and $19.96 per share. However, if the stock dips below $18.73, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $18.36.
Currently, the stock is trading in the green of MACD, with a reading of 0.08. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Maxim Group assigned NGM a rating of Buy in their intiating review released on July 07. BMO Capital Markets analysts see the stock as a Outperform with a target price of $30 in a flash note released to investors on June 05 initiating covering the stock. Raymond James analysts see the stock as Strong Buy when the analysts initiated the share price coverage on April 07, placing it at $31.
The average rating for the NGM equity is 1.57 and is currently gathering a bullish momentum. Of 8 analysts tracking NGM Biopharmaceuticals, Inc. polled by Reuters, 0 rated NGM as a hold. The remaining 8 analysts were split evenly. However, the split wasn’t equal as a majority (8) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.
Zacks Consensus Estimate forecasts that the current-quarter revenues for NGM Biopharmaceuticals, Inc. (NASDAQ:NGM) will decrease by about -99.91%, which will see them reach $21.76 million. The company’s full-year revenues are, however, expected to diminish by about -14.01%, down from $103.54 million to $89.03 million. NGM’s expected adjusted earnings should surge almost 146.15% to end up at -$0.32 per share, while for the fiscal year, analysts project the company’s earnings to grow by about 70.59% to record -$1.45/share.