89bio (NASDAQ:ETNB - Get Free Report)'s stock had its "sell (d-)" rating reissued by stock analysts at Weiss Ratings in a report released on Friday,Weiss Ratings reports.
Other analysts also recently issued reports about the company. Wolfe Research assumed coverage on 89bio in a research note on Tuesday, February 4th. They issued an "outperform" rating for the company. Raymond James raised shares of 89bio to a "strong-buy" rating in a research report on Thursday, December 12th. HC Wainwright restated a "buy" rating and set a $21.00 target price (down previously from $29.00) on shares of 89bio in a research report on Friday, February 28th. Cantor Fitzgerald reissued an "overweight" rating and issued a $29.00 target price on shares of 89bio in a report on Thursday, January 2nd. Finally, UBS Group upped their price objective on 89bio from $25.00 to $38.00 and gave the stock a "buy" rating in a research report on Friday, January 31st. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $30.29.
Read Our Latest Stock Report on ETNB
89bio Stock Performance
ETNB stock traded up $0.39 during midday trading on Friday, reaching $7.54. 1,642,739 shares of the company were exchanged, compared to its average volume of 2,485,542. 89bio has a one year low of $5.99 and a one year high of $13.71. The firm has a market capitalization of $1.10 billion, a price-to-earnings ratio of -2.59 and a beta of 1.17. The business has a 50-day moving average price of $8.78 and a two-hundred day moving average price of $8.47. The company has a debt-to-equity ratio of 0.09, a current ratio of 11.66 and a quick ratio of 11.66.
89bio (NASDAQ:ETNB - Get Free Report) last announced its earnings results on Thursday, March 6th. The company reported ($1.02) EPS for the quarter, missing the consensus estimate of ($0.60) by ($0.42). Equities research analysts forecast that 89bio will post -3.19 EPS for the current year.
Insiders Place Their Bets
In related news, insider Quoc Le-Nguyen sold 10,963 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $6.49, for a total value of $71,149.87. Following the transaction, the insider now owns 271,833 shares of the company's stock, valued at $1,764,196.17. This represents a 3.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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, with a total value of $32,750.00. Following the purchase, the director now owns 15,000 shares of the company's stock, valued at $98,250. This represents a 50.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.80% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently made changes to their positions in ETNB. Federated Hermes Inc. lifted its position in 89bio by 206.9% in the 4th quarter. Federated Hermes Inc. now owns 6,283 shares of the company's stock valued at $49,000 after acquiring an additional 4,236 shares in the last quarter. Quarry LP bought a new stake in 89bio during the 4th quarter worth approximately $55,000. Kingswood Wealth Advisors LLC purchased a new position in shares of 89bio during the 4th quarter valued at $86,000. Hsbc Holdings PLC bought a new position in shares of 89bio in the fourth quarter worth about $87,000. Finally, Sandia Investment Management LP grew its holdings in 89bio by 28.5% during the 4th 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.
About 89bio
(
Get Free Report)
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.
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