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

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

ETNB has been the topic of a number of other research reports. HC Wainwright restated a “buy” rating and issued a $21.00 price target (down previously from $29.00) on shares of 89bio in a research note on Friday, February 28th. UBS Group upped their price objective on shares of 89bio from $25.00 to $38.00 and gave the company a “buy” rating in a report on Friday, January 31st. The Goldman Sachs Group assumed coverage on shares of 89bio in a research report on Friday, March 14th. They issued a “neutral” rating and a $11.00 price objective on the stock. Cantor Fitzgerald raised shares of 89bio to a “strong-buy” rating in a research report on Wednesday, April 30th. Finally, Citigroup assumed coverage on shares of 89bio in a research report on Thursday, March 13th. They issued a “buy” rating and a $25.00 price objective on the stock. Two research analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $27.25.

89bio Trading Down 1.2%

NASDAQ:ETNB opened at $7.70 on Friday. 89bio has a twelve month low of $4.16 and a twelve month high of $11.84. The company has a quick ratio of 11.66, a current ratio of 11.66 and a debt-to-equity ratio of 0.09. The business has a 50 day moving average price of $7.26 and a two-hundred day moving average price of $8.16. The company has a market cap of $1.12 billion, a P/E ratio of -2.65 and a beta of 1.23.

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

Insider Activity

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

Institutional Trading of 89bio

Several institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. grew its position in 89bio by 77.4% during the third quarter. JPMorgan Chase & Co. now owns 99,467 shares of the company’s stock valued at $736,000 after buying an additional 43,384 shares during the period. Assenagon Asset Management S.A. bought a new position in 89bio during the fourth quarter valued at about $1,897,000. KLP Kapitalforvaltning AS bought a new position in 89bio during the fourth quarter valued at about $114,000. Barclays PLC grew its position in 89bio by 228.9% during the third quarter. Barclays PLC now owns 214,768 shares of the company’s stock valued at $1,590,000 after buying an additional 149,479 shares during the period. Finally, PNC Financial Services Group Inc. grew its position in 89bio by 17.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 26,185 shares of the company’s stock valued at $205,000 after buying an additional 3,820 shares during the period.

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.