NGM Biopharmaceuticals, Inc. (NGM): Up 9.41% Today, Time To Buy This Stock?

The biggest gainers of the session on the Wall Street include NGM Biopharmaceuticals, Inc. (NASDAQ:NGM), which rose 1.27 points or 9.41% to trade at $14.77 as last check. The stock closed last session at $13.5 and sets an active trading volume day with a reported 186671 contracts so far this session. NGM shares had a relatively better volume day versus average trading capacity of 91.23 million shares, but with a 47.17 million float and a -3.71% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for NGM stock indicates that the average analyst price target is $25.5 per share. This means the stock has a potential increase of 72.65% from where the NGM share price has been trading recently which is between $13.43 and $14.14. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $22.

The shorts are climbing into NGM Biopharmaceuticals, Inc. (NGM) stock. The latest set of short interest data was released on 31 July 2019, and the numbers show a rise in short interest in NGM shares. While short interest still represents only 1.16% of NGM’s float, the number of shares shorted have risen by 257377. The number of shares shorted advanced to 802544 shares, up from 545167 shares during the preceding fortnight. With average daily trading volumes at 78940 shares, days to cover increased to about 6.354668 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “NGM Bio Provides Pipeline Update and Reports Second Quarter 2019 Financial Results” and dated August 12, 2019.

Looking at the current readings for NGM Biopharmaceuticals, Inc., the two-week RSI stands at 59.42. This figure suggests that NGM stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current NGM readings is similarly very revealing as it has a stochastic reading of 55.96% at this stage. This figure means that NGM share price today is being neutral.

Technical chart claims that NGM Biopharmaceuticals, Inc. (NGM) would settle between $13.95/share to $14.4/share level. However, if the stock price goes below the $13.24 mark, then the market for NGM Biopharmaceuticals, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $12.98 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.05. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.

Analysts at Stifel, assumed coverage of NGM assigning Buy rating, according to their opinion released on June 25. Goldman, analysts launched coverage of NGM Biopharmaceuticals, Inc. (NASDAQ:NGM) stock with a Buy recommendation, according to their flash note issued to investors on April 29. Analysts at Cowen, made their first call for the equity with a Outperform recommendation, according to a research note that dated back to April 29.

NGM equity has an average rating of 1.5, with the figure leaning towards a bullish end. 4 analysts who tracked the company were contacted by Reuters. Amongst them, 0 rated the stock as a hold while the remaining 4 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 4 analysts rated NGM Biopharmaceuticals, Inc. (NASDAQ:NGM) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.