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

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

A number of other brokerages also recently weighed in on ETNB. Cantor Fitzgerald reissued an “overweight” rating and set a $29.00 price target on shares of 89bio in a research report on Thursday, January 2nd. Raymond James raised 89bio to a “strong-buy” rating in a report on Thursday, December 12th. Finally, HC Wainwright reissued a “buy” rating and issued a $29.00 price objective on shares of 89bio in a research note on Monday, November 11th. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, 89bio currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.33.

89bio Stock Up 3.6 %

NASDAQ ETNB traded up $0.22 during trading hours on Friday, reaching $6.31. 1,863,182 shares of the company’s stock were exchanged, compared to its average volume of 1,074,441. 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 $669.68 million, a price-to-earnings ratio of -2.17 and a beta of 1.14. The company’s 50-day moving average is $7.96 and its two-hundred day moving average is $8.22. 89bio has a one year low of $5.99 and a one year high of $16.63.

Insider Transactions at 89bio

In other news, insider Quoc Le-Nguyen sold 10,963 shares of the business’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $6.49, for a total value of $71,149.87. Following the transaction, the insider now directly owns 271,833 shares in the company, valued at $1,764,196.17. The trade was a 3.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Charles Mcwherter bought 10,000 shares of the business’s stock in a transaction that occurred on Thursday, December 5th. The shares were acquired at an average price of $8.00 per share, with a total value of $80,000.00. Following the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at $80,000. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 25,000 shares of company stock worth $202,950. Corporate insiders own 2.80% of the company’s stock.

Institutional Trading of 89bio

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Janus Henderson Group PLC grew its position in shares of 89bio by 14.2% during the third quarter. Janus Henderson Group PLC now owns 15,158,218 shares of the company’s stock valued at $112,140,000 after purchasing an additional 1,882,108 shares in the last quarter. Westfield Capital Management Co. LP increased its stake in 89bio by 29.6% in the 3rd quarter. Westfield Capital Management Co. LP now owns 3,006,038 shares of the company’s stock worth $22,245,000 after acquiring an additional 686,673 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of 89bio by 8.4% during the 3rd quarter. Geode Capital Management LLC now owns 2,074,970 shares of the company’s stock worth $15,358,000 after acquiring an additional 160,356 shares in the last quarter. Erste Asset Management GmbH bought a new position in shares of 89bio during the 3rd quarter valued at approximately $5,631,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of 89bio by 8.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 721,050 shares of the company’s stock valued at $5,336,000 after purchasing an additional 53,932 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.