NGM Biopharmaceuticals rises on takeover interest from shareholder group

NGM Biopharmaceuticals

02/01/2024 13:28

(Updates)
    ** Shares of NGM Biopharmaceuticals  NGM.O  rise 23.4% to
$1.06 premarket; co among the top performers across the U.S.
stock exchange
    ** NGM says it received a letter from a group of investors
led by venture capital firm  The Column Group to explore a
potential deal to take the company private 
    ** The investor group led by The Column Group owns around
26.7% of co's stock
    ** Co's board has formed a committee to consider the
potential acquisition 
    ** 4 of 6 brokerages rate the stock "buy" or higher, 2
"hold"; their median PT is $4
    ** NGM stock stayed flat in 2023

 (Reporting by Puyaan Singh)
 ((Puyaan.Singh@thomsonreuters.com;))