89BIO (NASDAQ:ETNB) Earns Sell (D-) Rating from Weiss Ratings

89BIO (NASDAQ:ETNB)‘s stock had its “sell (d-)” rating restated by investment analysts at Weiss Ratings in a report released on Tuesday,Weiss Ratings reports.

Separately, Cantor Fitzgerald raised 89BIO to a “strong-buy” rating in a research report on Wednesday, April 30th. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, 89BIO currently has an average rating of “Buy” and a consensus target price of $26.43.

89BIO Stock Performance

ETNB opened at $9.53 on Tuesday. The firm has a market cap of $1.39 billion, a PE ratio of -2.82 and a beta of 1.28. The company has a quick ratio of 18.03, a current ratio of 18.03 and a debt-to-equity ratio of 0.06. The business has a fifty day simple moving average of $10.03 and a 200-day simple moving average of $8.76. 89BIO has a fifty-two week low of $4.16 and a fifty-two week high of $11.84.

89BIO (NASDAQ:ETNB) last released its quarterly earnings data on Thursday, May 1st. The company reported ($0.49) earnings per share for the quarter, topping the consensus estimate of ($0.50) by $0.01. During the same period in the prior year, the business earned ($0.54) EPS. As a group, equities analysts predict that 89BIO will post -3.19 EPS for the current fiscal year.

Insider Activity

In related news, insider Quoc Le-Nguyen sold 10,461 shares of the stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $11.02, for a total transaction of $115,280.22. Following the completion of the sale, the insider directly owned 309,364 shares in the company, valued at approximately $3,409,191.28. This trade represents a 3.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.60% of the company’s stock.

Institutional Trading of 89BIO

Several hedge funds and other institutional investors have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in 89BIO by 2.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 51,154 shares of the company’s stock valued at $400,000 after buying an additional 1,169 shares in the last quarter. Comerica Bank raised its holdings in 89BIO by 0.6% during the first quarter. Comerica Bank now owns 258,123 shares of the company’s stock valued at $1,877,000 after buying an additional 1,540 shares in the last quarter. Algert Global LLC raised its holdings in 89BIO by 0.9% during the first quarter. Algert Global LLC now owns 186,991 shares of the company’s stock valued at $1,359,000 after buying an additional 1,584 shares in the last quarter. CWM LLC raised its holdings in 89BIO by 32.7% during the second quarter. CWM LLC now owns 7,827 shares of the company’s stock valued at $77,000 after buying an additional 1,927 shares in the last quarter. Finally, Sandia Investment Management LP raised its holdings in 89BIO by 28.5% during the fourth quarter. Sandia Investment Management LP now owns 11,286 shares of the company’s stock valued at $88,000 after buying an additional 2,500 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.