5 Pharmaceutical Stocks to Buy According to Jim Simons’ Euclidean Capital

3. NGM Biopharmaceuticals, Inc. (NASDAQ:NGM)

Euclidean Capital’s Stake Value: $29.44 million

Percentage of Euclidean Capital’s 13F Portfolio: 6.88%

Number of Hedge Fund Holders: 19

The stock price of NGM Biopharmaceuticals, Inc. (NASDAQ:NGM) plunged sharply this year after the company abandoned its NASH candidate following phase 2 failure. Nevertheless, the market analysts highlighted confidence in the company’s stock after NGM Biopharma showed advancement in a Phase 2 study of NGM621, a monoclonal antibody to potentially inhibit complement C3.

Hedge funds sentiment also increased in NGM lately. The number of long hedge funds positions increased to 19 as of the end of the second quarter of 2021 from 18 in the prior period.