StockNews.com Begins Coverage on Eiger BioPharmaceuticals (NASDAQ:EIGR)

Stock analysts at StockNews.com initiated coverage on shares of Eiger BioPharmaceuticals (NASDAQ:EIGR) in a research report issued on Tuesday. The brokerage set a “sell” rating on the biotechnology company’s stock.

Eiger BioPharmaceuticals Stock Down 9.2 %

Shares of EIGR opened at $1.73 on Tuesday. The company has a market cap of $2.55 million, a PE ratio of -0.03 and a beta of 1.83. The business has a fifty day moving average of $5.14 and a 200 day moving average of $7.20. Eiger BioPharmaceuticals has a 52-week low of $1.10 and a 52-week high of $43.35.

Institutional Trading of Eiger BioPharmaceuticals

A number of institutional investors have recently bought and sold shares of EIGR. Ameriprise Financial Inc. lifted its position in Eiger BioPharmaceuticals by 47.4% in the first quarter. Ameriprise Financial Inc. now owns 8,027,532 shares of the biotechnology company’s stock worth $7,200,000 after buying an additional 2,582,776 shares during the last quarter. Barclays PLC lifted its position in shares of Eiger BioPharmaceuticals by 206.7% during the fourth quarter. Barclays PLC now owns 1,615,447 shares of the biotechnology company’s stock worth $1,907,000 after purchasing an additional 1,088,680 shares during the last quarter. Millennium Management LLC bought a new stake in shares of Eiger BioPharmaceuticals during the fourth quarter worth $905,000. AQR Capital Management LLC bought a new stake in shares of Eiger BioPharmaceuticals during the fourth quarter worth $573,000. Finally, RBF Capital LLC bought a new stake in shares of Eiger BioPharmaceuticals during the second quarter worth $275,000. 62.46% of the stock is currently owned by institutional investors.

Eiger BioPharmaceuticals Company Profile

Eiger BioPharmaceuticals, Inc, a commercial-stage biopharmaceutical company, focuses on the development and commercialization of targeted therapies for rare and ultra-rare diseases in the United States and internationally. Its lead product candidate is Lonafarnib, an orally bioavailable, small molecule, which is in Phase III clinical trials to treat hepatitis delta virus infection.