89BIO (NASDAQ:ETNB) Stock Rating Lowered by HC Wainwright

89BIO (NASDAQ:ETNB) was downgraded by equities research analysts at HC Wainwright from a “buy” rating to a “neutral” rating in a research note issued to investors on Friday, Marketbeat.com reports. They currently have a $14.50 price target on the stock. HC Wainwright’s price objective suggests a potential downside of 2.49% from the company’s previous close.

Several other brokerages have also recently issued reports on ETNB. Royal Bank Of Canada dropped their target price on 89BIO from $12.00 to $11.00 and set a “sector perform” rating on the stock in a research report on Friday, August 8th. Wolfe Research cut 89BIO from an “outperform” rating to a “peer perform” rating in a research note on Friday. Bank of America reduced their target price on shares of 89BIO from $30.00 to $29.00 and set a “buy” rating for the company in a report on Monday, August 25th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of 89BIO in a report on Saturday, September 13th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $25.81.

89BIO Trading Down 0.6%

NASDAQ:ETNB opened at $14.87 on Friday. 89BIO has a one year low of $4.16 and a one year high of $15.06. The company has a debt-to-equity ratio of 0.07, a quick ratio of 15.19 and a current ratio of 15.19. The firm has a market cap of $2.21 billion, a P/E ratio of -4.12 and a beta of 1.27. The firm has a 50-day simple moving average of $9.51 and a 200-day simple moving average of $8.79.

89BIO (NASDAQ:ETNB) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.71) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.49) by ($0.22). During the same quarter in the prior year, the firm earned ($0.48) EPS. Equities analysts anticipate that 89BIO will post -3.19 EPS for the current fiscal year.

Insider Transactions at 89BIO

In other 89BIO news, insider Quoc Le-Nguyen sold 10,461 shares of the firm’s stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $11.02, for a total transaction of $115,280.22. Following the completion of the transaction, the insider directly owned 309,364 shares of the company’s stock, valued at approximately $3,409,191.28. This trade represents a 3.27% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 2.60% of the company’s stock.

Institutional Trading of 89BIO

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. KBC Group NV purchased a new stake in 89BIO in the second quarter valued at $55,000. CWM LLC lifted its holdings in shares of 89BIO by 9,265.1% in the 1st quarter. CWM LLC now owns 5,900 shares of the company’s stock valued at $43,000 after buying an additional 5,837 shares during the period. Osaic Holdings Inc. lifted its holdings in shares of 89BIO by 25.9% in the 2nd quarter. Osaic Holdings Inc. now owns 6,463 shares of the company’s stock valued at $63,000 after buying an additional 1,330 shares during the period. AlphaQuest LLC lifted its holdings in shares of 89BIO by 213.8% in the 2nd quarter. AlphaQuest LLC now owns 6,614 shares of the company’s stock valued at $65,000 after buying an additional 4,506 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in shares of 89BIO by 4,898.7% in the 1st quarter. GAMMA Investing LLC now owns 7,648 shares of the company’s stock valued at $56,000 after buying an additional 7,495 shares during the period.

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.