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

89bio (NASDAQ:ETNB)‘s stock had its “sell (d-)” rating reiterated by stock analysts at Weiss Ratings in a note issued to investors on Saturday,Weiss Ratings reports.

A number of other brokerages have also issued reports on ETNB. Citigroup began coverage on shares of 89bio in a research note on Thursday, March 13th. They issued a “buy” rating and a $25.00 target price on the stock. Cantor Fitzgerald restated an “overweight” rating and issued a $29.00 target price on shares of 89bio in a research note on Thursday, January 2nd. UBS Group upped their target price on shares of 89bio from $25.00 to $38.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Raymond James upgraded shares of 89bio to a “strong-buy” rating in a research note on Thursday, December 12th. Finally, The Goldman Sachs Group began coverage on shares of 89bio in a research note on Friday, March 14th. They issued a “neutral” rating and a $11.00 target price on the stock. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $27.56.

89bio Stock Performance

Shares of ETNB stock opened at $8.52 on Friday. 89bio has a 12 month low of $5.99 and a 12 month high of $11.84. The company has a debt-to-equity ratio of 0.09, a current ratio of 11.66 and a quick ratio of 11.66. The firm has a market capitalization of $1.24 billion, a P/E ratio of -2.93 and a beta of 1.17. The company’s fifty day moving average price is $8.94 and its two-hundred day moving average price is $8.42.

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

Insider Buying and Selling

In other news, Director Charles Mcwherter bought 5,000 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was purchased at an average price of $6.55 per share, for a total transaction of $32,750.00. Following the transaction, the director now owns 15,000 shares in the company, valued at approximately $98,250. This trade represents a 50.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Ra Capital Management, L.P. bought 5,714,285 shares of the firm’s stock in a transaction on Thursday, January 30th. The stock was purchased at an average price of $8.75 per share, with a total value of $49,999,993.75. Following the transaction, the director now owns 19,554,319 shares in the company, valued at $171,100,291.25. The trade was a 41.29 % increase in their position. The disclosure for this purchase can be found here. 2.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ETNB. Quest Partners LLC grew its position in 89bio by 172.1% in the 3rd quarter. Quest Partners LLC now owns 22,074 shares of the company’s stock worth $163,000 after purchasing an additional 13,961 shares during the last quarter. Intech Investment Management LLC bought a new position in shares of 89bio in the third quarter valued at approximately $160,000. Charles Schwab Investment Management Inc. boosted 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 acquiring an additional 53,932 shares in the last quarter. Algert Global LLC boosted its holdings in shares of 89bio by 103.4% in the third quarter. Algert Global LLC now owns 62,217 shares of the company’s stock valued at $460,000 after acquiring an additional 31,630 shares in the last quarter. Finally, Westfield Capital Management Co. LP boosted its holdings in shares of 89bio by 29.6% in the third quarter. Westfield Capital Management Co. LP now owns 3,006,038 shares of the company’s stock valued at $22,245,000 after acquiring an additional 686,673 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.