89BIO (NASDAQ:ETNB) Downgraded to “Strong Sell” Rating by Wall Street Zen

89BIO (NASDAQ:ETNB) was downgraded by analysts at Wall Street Zen to a “strong sell” rating in a research report issued on Saturday.

A number of other equities research analysts have also recently commented on ETNB. Wolfe Research cut 89BIO from an “outperform” rating to a “peer perform” rating in a research note on Friday, September 19th. Cantor Fitzgerald reissued an “overweight” rating on shares of 89BIO in a research note on Friday. Weiss Ratings reissued a “sell (d-)” rating on shares of 89BIO in a research note on Wednesday, October 8th. HC Wainwright cut 89BIO from a “buy” rating to a “neutral” rating and set a $14.50 price objective for the company. in a research note on Friday, September 19th. Finally, Royal Bank Of Canada reduced their price objective on 89BIO from $12.00 to $11.00 and set a “sector perform” rating for the company in a research note on Friday, August 8th. Four analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $25.81.

89BIO Price Performance

Shares of ETNB opened at $14.84 on Friday. 89BIO has a 1 year low of $4.16 and a 1 year high of $15.06. The company has a debt-to-equity ratio of 0.07, a current ratio of 15.19 and a quick ratio of 15.19. The company has a market capitalization of $2.20 billion, a price-to-earnings ratio of -4.11 and a beta of 1.27. The business has a 50-day moving average of $12.63 and a 200-day moving average of $10.36.

89BIO (NASDAQ:ETNB) last released its earnings results on Thursday, August 7th. The company reported ($0.71) EPS for the quarter, missing the consensus estimate of ($0.49) by ($0.22). During the same period last year, the business earned ($0.48) earnings per share. As a group, equities research analysts anticipate that 89BIO will post -3.19 earnings per share for the current year.

Institutional Trading of 89BIO

Hedge funds have recently made changes to their positions in the company. KBC Group NV bought a new stake in shares of 89BIO in the second quarter valued at $55,000. CWM LLC raised its stake in shares of 89BIO by 9,265.1% in the first 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. raised its stake in shares of 89BIO by 25.9% during the 2nd quarter. Osaic Holdings Inc. now owns 6,463 shares of the company’s stock valued at $63,000 after purchasing an additional 1,330 shares during the period. AlphaQuest LLC raised its stake in shares of 89BIO by 213.8% during the 2nd quarter. AlphaQuest LLC now owns 6,614 shares of the company’s stock valued at $65,000 after purchasing an additional 4,506 shares during the period. Finally, Ieq Capital LLC bought a new stake in shares of 89BIO during the 1st quarter valued at $89,000.

About 89BIO

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.