Looking Into NGM Biopharmaceuticals's Recent Short Interest
Portfolio Pulse from Benzinga Insights
NGM Biopharmaceuticals (NYSE:NGM) has seen a 34.39% decrease in short interest since its last report, with 1.64 million shares sold short, representing 7.42% of its float. The average time to cover these short positions is 5.25 days. Short interest is a market sentiment indicator, and NGM's decrease suggests a more bullish sentiment compared to the last report. NGM has a higher short interest than its peer group average of 5.38%.
January 19, 2024 | 1:30 pm
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NGM Biopharmaceuticals has experienced a significant decrease in short interest, which may indicate a more bullish sentiment among investors and could lead to a potential short-term increase in stock price.
A decrease in short interest typically suggests that investors are less bearish on the stock, which could lead to a short-term increase in its price as the market sentiment improves. However, the article also cautions that this does not necessarily mean the stock will rise in the near term, hence the importance is not at the maximum level.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100