Weiss Ratings Reaffirms Sell (D-) Rating for 89bio (NASDAQ:ETNB)

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

Other equities analysts also recently issued reports about the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $29.00 target price on shares of 89bio in a research note on Thursday, January 2nd. Wolfe Research started coverage on shares of 89bio in a research report on Tuesday, February 4th. They set an “outperform” rating for the company. HC Wainwright reiterated a “buy” rating and set a $29.00 price target on shares of 89bio in a research report on Tuesday, January 21st. Raymond James upgraded shares of 89bio to a “strong-buy” rating in a research report on Thursday, December 12th. Finally, UBS Group lifted their price target on shares of 89bio from $25.00 to $38.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, 89bio has an average rating of “Moderate Buy” and an average price target of $31.43.

89bio Trading Down 3.0 %

Shares of NASDAQ ETNB opened at $10.96 on Wednesday. 89bio has a 1-year low of $5.99 and a 1-year high of $16.63. The company has a market cap of $1.16 billion, a PE ratio of -3.77 and a beta of 1.17. The company has a current ratio of 11.66, a quick ratio of 11.66 and a debt-to-equity ratio of 0.09. The company has a 50-day moving average of $8.51 and a two-hundred day moving average of $8.39.

Insider Buying and Selling at 89bio

In other news, Director Charles Mcwherter acquired 10,000 shares of 89bio stock in a transaction on Thursday, December 5th. The shares were purchased at an average cost of $8.00 per share, for a total transaction of $80,000.00. Following the completion of the purchase, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $80,000. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Quoc Le-Nguyen sold 10,963 shares of the stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $6.49, for a total transaction of $71,149.87. Following the sale, the insider now owns 271,833 shares in the company, valued at $1,764,196.17. The trade was a 3.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have purchased a total of 5,734,285 shares of company stock worth $50,152,194 over the last ninety days. Insiders own 2.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in ETNB. China Universal Asset Management Co. Ltd. lifted its holdings in shares of 89bio by 76.2% in the third quarter. China Universal Asset Management Co. Ltd. now owns 20,370 shares of the company’s stock worth $151,000 after acquiring an additional 8,810 shares during the last quarter. Harbor Capital Advisors Inc. lifted its holdings in shares of 89bio by 165.3% in the third quarter. Harbor Capital Advisors Inc. now owns 227,930 shares of the company’s stock worth $1,687,000 after acquiring an additional 142,032 shares during the last quarter. Quest Partners LLC lifted its holdings in shares of 89bio by 172.1% in the third quarter. Quest Partners LLC now owns 22,074 shares of the company’s stock worth $163,000 after acquiring an additional 13,961 shares during the last quarter. Intech Investment Management LLC bought a new position in 89bio in the 3rd quarter valued at approximately $160,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in 89bio by 8.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 721,050 shares of the company’s stock valued at $5,336,000 after buying an additional 53,932 shares during 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.