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

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

Eiger BioPharmaceuticals Trading Down 9.2 %

Shares of NASDAQ:EIGR opened at $1.73 on Tuesday. The business has a 50-day moving average price of $5.14 and a 200 day moving average price of $7.20. The company has a market capitalization of $2.55 million, a price-to-earnings ratio of -0.03 and a beta of 1.83. Eiger BioPharmaceuticals has a 12-month low of $1.10 and a 12-month high of $43.35.

Institutional Trading of Eiger BioPharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of EIGR. MetLife Investment Management LLC purchased a new position in Eiger BioPharmaceuticals during the 1st quarter valued at about $165,000. Dimensional Fund Advisors LP boosted its holdings in Eiger BioPharmaceuticals by 35.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 387,791 shares of the biotechnology company’s stock valued at $3,221,000 after acquiring an additional 102,153 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Eiger BioPharmaceuticals by 2.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 88,711 shares of the biotechnology company’s stock valued at $737,000 after acquiring an additional 1,953 shares during the period. State Street Corp boosted its holdings in Eiger BioPharmaceuticals by 1.5% during the 1st quarter. State Street Corp now owns 554,315 shares of the biotechnology company’s stock valued at $4,601,000 after acquiring an additional 8,160 shares during the period. Finally, Virtu Financial LLC boosted its holdings in Eiger BioPharmaceuticals by 139.4% during the 1st quarter. Virtu Financial LLC now owns 54,493 shares of the biotechnology company’s stock valued at $452,000 after acquiring an additional 31,734 shares during the period. 62.46% of the stock is owned by institutional investors and hedge funds.

About Eiger BioPharmaceuticals

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.