89bio’s (ETNB) Sell (D-) Rating Reiterated at Weiss Ratings

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

Other analysts also recently issued reports about the company. Wolfe Research started coverage on 89bio in a research report on Tuesday, February 4th. They set an “outperform” rating on the stock. The Goldman Sachs Group assumed coverage on 89bio in a research report on Friday, March 14th. They issued a “neutral” rating and a $11.00 price objective on the stock. UBS Group raised their price target on 89bio from $25.00 to $38.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. Cantor Fitzgerald raised 89bio to a “strong-buy” rating in a research note on Wednesday, April 30th. Finally, HC Wainwright reissued a “buy” rating and issued a $21.00 price target (down from $29.00) on shares of 89bio in a research note on Friday, February 28th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $27.25.

89bio Price Performance

Shares of NASDAQ ETNB opened at $8.11 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 11.66 and a current ratio of 11.66. 89bio has a fifty-two week low of $4.16 and a fifty-two week high of $11.84. The firm has a market capitalization of $1.18 billion, a PE ratio of -2.79 and a beta of 1.23. The stock’s 50-day simple moving average is $7.25 and its 200-day simple moving average is $8.17.

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

Insider Activity

In other news, insider Quoc Le-Nguyen sold 15,329 shares of 89bio stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $5.95, for a total value of $91,207.55. Following the transaction, the insider now directly owns 328,323 shares of the company’s stock, valued at $1,953,521.85. The trade was a 4.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On 89bio

Several hedge funds and other institutional investors have recently modified their holdings of the company. Janus Henderson Group PLC lifted its position in 89bio by 8.9% during the 4th quarter. Janus Henderson Group PLC now owns 16,514,056 shares of the company’s stock worth $129,177,000 after acquiring an additional 1,355,838 shares in the last quarter. Suvretta Capital Management LLC raised its stake 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 valued at $79,785,000 after purchasing an additional 2,211,052 shares during the period. RTW Investments LP raised its stake in shares of 89bio by 1.3% during the fourth quarter. RTW Investments LP now owns 7,478,061 shares of the company’s stock valued at $58,478,000 after purchasing an additional 99,513 shares during the period. Vanguard Group Inc. raised its stake in shares of 89bio by 25.8% during the first quarter. Vanguard Group Inc. now owns 7,163,609 shares of the company’s stock valued at $52,079,000 after purchasing an additional 1,471,278 shares during the period. Finally, Deep Track Capital LP raised its stake in shares of 89bio by 134.2% during the fourth 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 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.