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Published on 29 Oct 2021 on Insider Monkey via Yahoo Finance

Hedge Funds Are Piling Into NGM Biopharmaceuticals, Inc. (NGM)


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Hedge funds and large money managers usually invest with a focus on the long-term horizon and, therefore, short-lived dips or bumps on the charts usually don't make them change their opinion towards a company. This time it may be different. The coronavirus pandemic destroyed the high correlations among major industries and asset classes. We are now in a stock pickers market where fundamentals of a stock have more effect on the price than the overall direction of the market. As a result we observe sudden and large changes in hedge fund positions depending on the news flow. Let’s take a look at the hedge fund sentiment towards NGM Biopharmaceuticals, Inc. (NASDAQ:NGM) to find out whether there were any major changes in hedge funds' views.

NGM Biopharmaceuticals, Inc. (NASDAQ:NGM) investors should be aware of an increase in hedge fund sentiment lately. NGM Biopharmaceuticals, Inc. (NASDAQ:NGM) was in 19 hedge funds' portfolios at the end of the second quarter of 2021. The all time high for this statistic was previously 18. This means the bullish number of hedge fund positions in this stock currently sits at its all time high. Our calculations also showed that NGM isn't among the 30 most popular stocks among hedge funds (click for Q2 rankings).

In today’s marketplace there are dozens of metrics stock traders put to use to size up stocks. A couple of the best metrics are hedge fund and insider trading moves. Our experts have shown that, historically, those who follow the best picks of the top money managers can beat the broader indices by a significant amount (see the details here). Also, our monthly newsletter's portfolio of long stock picks returned 185.4% since March 2017 (through August 2021) and beat the S&P 500 Index by more than 79 percentage points. You can download a sample issue of this newsletter on our website.

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