89bio (NASDAQ:ETNB) Given Sell (D-) Rating at Weiss Ratings

89bio (NASDAQ:ETNB)‘s stock had its “sell (d-)” rating restated by investment analysts at Weiss Ratings in a research report issued to clients and investors on Thursday,Weiss Ratings reports.

ETNB has been the topic of several other research reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $29.00 price objective on shares of 89bio in a research note on Thursday, January 2nd. Citigroup initiated coverage on shares of 89bio in a research note on Thursday, March 13th. They set a “buy” rating and a $25.00 price target on the stock. The Goldman Sachs Group began coverage on 89bio in a research note on Friday, March 14th. They issued a “neutral” rating and a $11.00 price objective for the company. UBS Group lifted their target price on 89bio from $25.00 to $38.00 and gave the company a “buy” rating in a research report on Friday, January 31st. Finally, Wolfe Research started coverage on 89bio in a research report on Tuesday, February 4th. They issued an “outperform” rating for the company. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, 89bio currently has a consensus rating of “Moderate Buy” and an average price target of $27.25.

89bio Trading Up 4.2 %

Shares of ETNB stock opened at $6.90 on Thursday. The stock has a market capitalization of $1.01 billion, a P/E ratio of -2.37 and a beta of 1.25. The company has a current ratio of 11.66, a quick ratio of 11.66 and a debt-to-equity ratio of 0.09. The firm’s 50 day moving average is $7.71 and its 200 day moving average is $8.17. 89bio has a 12-month low of $4.16 and a 12-month high of $11.84.

89bio (NASDAQ:ETNB) last issued its quarterly earnings data on Thursday, March 6th. The company reported ($1.02) EPS for the quarter, missing the consensus estimate of ($0.60) by ($0.42). Research analysts expect that 89bio will post -3.19 earnings per share for the current year.

Insider Buying and Selling

In other 89bio news, insider Quoc Le-Nguyen sold 15,329 shares of the company’s stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $5.95, for a total value of $91,207.55. Following the completion of the transaction, the insider now directly owns 328,323 shares in the company, valued at $1,953,521.85. This represents a 4.46 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Ra Capital Management, L.P. acquired 5,714,285 shares of 89bio stock in a transaction dated Thursday, January 30th. The shares were bought at an average price of $8.75 per share, for a total transaction of $49,999,993.75. Following the transaction, 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 ownership of the stock. The disclosure for this purchase can be found here. 2.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ETNB. Federated Hermes Inc. lifted its position in shares of 89bio by 206.9% in the fourth quarter. Federated Hermes Inc. now owns 6,283 shares of the company’s stock worth $49,000 after buying an additional 4,236 shares in the last quarter. Quarry LP bought a new position in shares of 89bio during the 4th quarter valued at approximately $55,000. GAMMA Investing LLC grew its holdings in shares of 89bio by 4,898.7% in the first quarter. GAMMA Investing LLC now owns 7,648 shares of the company’s stock valued at $56,000 after purchasing an additional 7,495 shares in the last quarter. Kingswood Wealth Advisors LLC bought a new stake in 89bio in the fourth quarter worth $86,000. Finally, Sandia Investment Management LP raised its stake in 89bio by 28.5% during the fourth quarter. Sandia Investment Management LP now owns 11,286 shares of the company’s stock valued at $88,000 after purchasing an additional 2,500 shares in the last quarter.

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.