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

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

ETNB has been the topic of a number of other reports. Wolfe Research began coverage on shares of 89bio in a research note on Tuesday, February 4th. They issued an “outperform” rating on the stock. UBS Group raised their target price on shares of 89bio from $25.00 to $38.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. Cantor Fitzgerald reissued an “overweight” rating and issued a $29.00 target price on shares of 89bio in a research note on Thursday, January 2nd. Raymond James raised shares of 89bio to a “strong-buy” rating in a research note on Thursday, December 12th. Finally, HC Wainwright reissued a “buy” rating and issued a $21.00 target price (down from $29.00) on shares of 89bio in a research note on Friday, February 28th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $30.29.

89bio Trading Down 5.5 %

Shares of 89bio stock opened at $7.85 on Friday. The firm has a market capitalization of $833.09 million, a PE ratio of -2.70 and a beta of 1.17. 89bio has a twelve month low of $5.99 and a twelve month high of $13.71. The firm’s 50-day moving average price is $8.80 and its 200 day moving average price is $8.48. The company has a current ratio of 11.66, a quick ratio of 11.66 and a debt-to-equity ratio of 0.09.

89bio (NASDAQ:ETNB) last issued its quarterly earnings results on Thursday, March 6th. The company reported ($1.02) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.42). On average, sell-side analysts predict that 89bio will post -3.19 EPS for the current fiscal year.

Insider Transactions at 89bio

In other news, Director Ra Capital Management, L.P. bought 5,714,285 shares of the business’s stock in a transaction on Thursday, January 30th. The shares were bought at an average price of $8.75 per share, with a total value of $49,999,993.75. Following the completion of the transaction, the director now directly owns 19,554,319 shares in the company, valued at $171,100,291.25. This trade represents a 41.29 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Charles Mcwherter bought 5,000 shares of the business’s stock in a transaction on Tuesday, January 21st. The stock was purchased at an average cost of $6.55 per share, for a total transaction of $32,750.00. Following the transaction, the director now owns 15,000 shares of the company’s stock, valued at $98,250. This trade represents a 50.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 2.80% of the company’s stock.

Institutional Trading of 89bio

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in 89bio by 26.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 178,691 shares of the company’s stock valued at $1,397,000 after purchasing an additional 37,693 shares during the period. Woodline Partners LP increased its position in shares of 89bio by 640.1% during the fourth quarter. Woodline Partners LP now owns 394,826 shares of the company’s stock worth $3,088,000 after acquiring an additional 341,479 shares during the period. Stempoint Capital LP purchased a new stake in shares of 89bio during the fourth quarter worth $4,268,000. Suvretta Capital Management LLC increased its position in shares of 89bio by 27.7% during the fourth quarter. Suvretta Capital Management LLC now owns 10,202,696 shares of the company’s stock worth $79,785,000 after acquiring an additional 2,211,052 shares during the period. Finally, Sandia Investment Management LP increased its position in shares of 89bio by 28.5% during the fourth quarter. Sandia Investment Management LP now owns 11,286 shares of the company’s stock worth $88,000 after acquiring an additional 2,500 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.