89bio (NASDAQ:ETNB) Receives Sell (D-) Rating from Weiss Ratings

Weiss Ratings reiterated their sell (d-) rating on shares of 89bio (NASDAQ:ETNB) in a research note released on Wednesday,Weiss Ratings reports.

Other analysts have also recently issued reports about the company. Citigroup initiated coverage on 89bio in a research note on Thursday, March 13th. They set a “buy” rating and a $25.00 target price for the company. The Goldman Sachs Group initiated coverage on 89bio in a research note on Friday, March 14th. They set a “neutral” rating and a $11.00 target price for the company. Cantor Fitzgerald raised 89bio to a “strong-buy” rating in a research note on Wednesday, April 30th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $21.00 price target (down from $29.00) on shares of 89bio in a research note on Friday, February 28th. Two research analysts have rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, 89bio presently has a consensus rating of “Buy” and a consensus price target of $26.43.

89bio Stock Performance

Shares of ETNB stock opened at $10.04 on Wednesday. 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 stock has a market cap of $1.47 billion, a PE ratio of -3.45 and a beta of 1.30. The stock has a 50-day moving average of $7.87 and a 200-day moving average of $8.26. 89bio has a one year low of $4.16 and a one year high of $11.84.

89bio (NASDAQ:ETNB) last posted its earnings results on Thursday, May 1st. The company reported ($0.49) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.01. During the same period in the prior year, the firm earned ($0.54) EPS. As a group, sell-side analysts expect that 89bio will post -3.19 earnings per share for the current year.

Insider Activity

In other 89bio news, insider Quoc Le-Nguyen sold 15,329 shares of the firm’s stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $5.95, for a total transaction of $91,207.55. Following the completion of the sale, the insider now owns 328,323 shares of the company’s stock, valued at $1,953,521.85. This trade represents a 4.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On 89bio

Several hedge funds have recently added to or reduced their stakes in ETNB. RA Capital Management L.P. lifted its holdings in 89bio by 40.3% during the 1st quarter. RA Capital Management L.P. now owns 19,889,683 shares of the company’s stock valued at $144,598,000 after purchasing an additional 5,714,285 shares during the last quarter. Avoro Capital Advisors LLC acquired a new stake in 89bio during the 4th quarter valued at $32,062,000. Deep Track Capital LP lifted its holdings in 89bio by 134.2% during the 4th quarter. Deep Track Capital LP now owns 6,478,249 shares of the company’s stock valued at $50,660,000 after purchasing an additional 3,711,737 shares during the last quarter. Suvretta Capital Management LLC lifted its holdings in 89bio by 27.7% during the 4th quarter. Suvretta Capital Management LLC now owns 10,202,696 shares of the company’s stock valued at $79,785,000 after purchasing an additional 2,211,052 shares during the last quarter. Finally, Beck Bode LLC acquired a new stake in 89bio during the 1st quarter valued at $13,199,000.

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.