89bio’s (ETNB) Sell (D-) Rating Reiterated at Weiss Ratings

89bio (NASDAQ:ETNB)‘s stock had its “sell (d-)” rating reissued by Weiss Ratings in a report issued on Saturday,Weiss Ratings reports.

Other research analysts also recently issued research reports about the company. Raymond James raised 89bio to a “strong-buy” rating in a research note on Thursday, December 12th. UBS Group boosted their price target on 89bio from $25.00 to $38.00 and gave the company a “buy” rating in a research note on Friday, January 31st. HC Wainwright reaffirmed a “buy” rating and issued a $21.00 price target (down previously from $29.00) on shares of 89bio in a research note on Friday, February 28th. Wolfe Research started coverage on 89bio in a research report on Tuesday, February 4th. They issued an “outperform” rating on the stock. Finally, Citigroup started coverage on 89bio in a research report on Thursday, March 13th. They issued a “buy” rating and a $25.00 target price on the stock. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $27.56.

89bio Stock Down 2.4 %

ETNB opened at $8.52 on Friday. 89bio has a fifty-two week low of $5.99 and a fifty-two week high of $11.84. The company has a debt-to-equity ratio of 0.09, a quick ratio of 11.66 and a current ratio of 11.66. The company has a market capitalization of $1.24 billion, a P/E ratio of -2.93 and a beta of 1.17. The stock has a fifty day moving average of $8.94 and a 200-day moving average of $8.42.

89bio (NASDAQ:ETNB) last posted its quarterly earnings results on Thursday, March 6th. The company reported ($1.02) EPS for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.42). On average, equities analysts expect that 89bio will post -3.19 EPS for the current year.

Insider Transactions at 89bio

In other news, Director Charles Mcwherter purchased 5,000 shares of 89bio stock in a transaction dated Tuesday, January 21st. The shares were bought at an average cost of $6.55 per share, for a total transaction of $32,750.00. Following the completion of the acquisition, the director now owns 15,000 shares in the company, valued at approximately $98,250. This trade represents a 50.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ra Capital Management, L.P. purchased 5,714,285 shares of 89bio stock in a transaction dated Thursday, January 30th. The shares were purchased at an average price of $8.75 per share, for a total transaction of $49,999,993.75. Following the completion of the acquisition, the director now owns 19,554,319 shares of the company’s stock, valued at approximately $171,100,291.25. The trade was a 41.29 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 2.80% of the company’s stock.

Institutional Trading of 89bio

Several hedge funds and other institutional investors have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of 89bio by 2.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 51,154 shares of the company’s stock worth $400,000 after purchasing an additional 1,169 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of 89bio by 11.5% during the fourth quarter. Victory Capital Management Inc. now owns 13,969 shares of the company’s stock worth $109,000 after purchasing an additional 1,437 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of 89bio by 1.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 140,998 shares of the company’s stock worth $1,043,000 after acquiring an additional 1,624 shares during the period. Sandia Investment Management LP lifted its stake in shares of 89bio by 28.5% in the fourth quarter. Sandia Investment Management LP now owns 11,286 shares of the company’s stock worth $88,000 after acquiring an additional 2,500 shares during the period. Finally, New York State Common Retirement Fund lifted its stake in shares of 89bio by 24.3% in the fourth quarter. New York State Common Retirement Fund now owns 16,367 shares of the company’s stock worth $128,000 after acquiring an additional 3,200 shares during the period.

89bio Company Profile

89bio, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of therapies for the treatment of liver and cardio-metabolic diseases. Its lead product candidate is pegozafermin, a glycoPEGylated analog of fibroblast growth factor 21 for the treatment of nonalcoholic steatohepatitis; and for the treatment of severe hypertriglyceridemia.