Weiss Ratings Reiterates Sell (D-) Rating for 89bio (NASDAQ:ETNB)

Weiss Ratings reaffirmed their sell (d-) rating on shares of 89bio (NASDAQ:ETNB) in a research report report published on Saturday morning,Weiss Ratings reports.

A number of other equities analysts have also commented on the company. The Goldman Sachs Group assumed coverage on 89bio in a research note on Friday, March 14th. They issued a “neutral” rating and a $11.00 price objective on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $29.00 price target on shares of 89bio in a research report on Thursday, January 2nd. UBS Group increased their price objective on 89bio from $25.00 to $38.00 and gave the company a “buy” rating in a research report on Friday, January 31st. Citigroup assumed coverage on shares of 89bio in a research note on Thursday, March 13th. They issued a “buy” rating and a $25.00 price objective on the stock. Finally, HC Wainwright reiterated a “buy” rating and set a $21.00 target price (down from $29.00) on shares of 89bio in a research note on Friday, February 28th. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $27.56.

89bio Trading Up 7.4 %

Shares of ETNB stock opened at $9.15 on Friday. The business’s 50 day moving average is $9.00 and its two-hundred day moving average is $8.42. The company has a quick ratio of 11.66, a current ratio of 11.66 and a debt-to-equity ratio of 0.09. 89bio has a 12 month low of $5.99 and a 12 month high of $11.84. The company has a market cap of $1.34 billion, a PE ratio of -3.14 and a beta of 1.17.

89bio (NASDAQ:ETNB) last announced its earnings results on Thursday, March 6th. The company reported ($1.02) EPS for the quarter, missing the consensus estimate of ($0.60) by ($0.42). Equities analysts predict that 89bio will post -3.19 EPS for the current year.

Insider Buying and Selling

In other news, insider Quoc Le-Nguyen sold 10,963 shares of the stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $6.49, for a total value of $71,149.87. Following the completion of the transaction, the insider now owns 271,833 shares in the company, valued at approximately $1,764,196.17. This represents a 3.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Charles Mcwherter acquired 5,000 shares of 89bio stock in a transaction dated Tuesday, January 21st. The shares were acquired at an average cost of $6.55 per share, with a total value of $32,750.00. Following the completion of the acquisition, the director now directly owns 15,000 shares in the company, valued at $98,250. This trade represents a 50.00 % increase in their position. The disclosure for this purchase can be found here. 2.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On 89bio

Several large investors have recently modified their holdings of ETNB. Janus Henderson Group PLC lifted its position in shares of 89bio by 8.9% during the 4th quarter. Janus Henderson Group PLC now owns 16,514,056 shares of the company’s stock worth $129,177,000 after buying an additional 1,355,838 shares during the period. Suvretta Capital Management LLC raised its stake in 89bio by 27.7% during the fourth quarter. Suvretta Capital Management LLC now owns 10,202,696 shares of the company’s stock worth $79,785,000 after acquiring an additional 2,211,052 shares in the last quarter. RTW Investments LP lifted its holdings in shares of 89bio by 1.3% during the fourth quarter. RTW Investments LP now owns 7,478,061 shares of the company’s stock valued at $58,478,000 after acquiring an additional 99,513 shares during the period. Deep Track Capital LP boosted its stake in shares of 89bio by 134.2% in the 4th quarter. Deep Track Capital LP now owns 6,478,249 shares of the company’s stock valued at $50,660,000 after purchasing an additional 3,711,737 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of 89bio by 13.7% in the 4th quarter. Vanguard Group Inc. now owns 5,692,331 shares of the company’s stock worth $44,514,000 after purchasing an additional 686,054 shares during 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.