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

Weiss Ratings reissued their sell (d-) rating on shares of 89bio (NASDAQ:ETNB - Free Report) in a report issued on Saturday,Weiss Ratings reports.

Several other equities analysts also recently weighed in on the stock. UBS Group lifted 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. Wolfe Research initiated coverage on shares of 89bio in a report on Tuesday, February 4th. They issued an "outperform" rating for the company. HC Wainwright reissued a "buy" rating and set a $21.00 target price (down previously from $29.00) on shares of 89bio in a report on Friday, February 28th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $29.00 price target on shares of 89bio in a report on Thursday, January 2nd. Finally, The Goldman Sachs Group started coverage on 89bio in a research note on Friday, March 14th. They set a "neutral" rating and a $11.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, 89bio has an average rating of "Moderate Buy" and an average price target of $27.56.

89bio Stock Performance

Shares of 89bio stock traded up $0.94 during trading hours on Friday, hitting $8.96. 3,859,460 shares of the company's stock traded hands, compared to its average volume of 1,200,360. The stock has a market capitalization of $1.31 billion, a price-to-earnings ratio of -3.08 and a beta of 1.17. 89bio has a 12-month low of $5.99 and a 12-month high of $11.84. The company has a debt-to-equity ratio of 0.09, a current ratio of 11.66 and a quick ratio of 11.66. The company has a fifty day simple moving average of $9.07 and a 200-day simple moving average of $8.42.

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89bio (NASDAQ:ETNB - Get Free Report) last announced its quarterly earnings data 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 anticipate that 89bio will post -3.19 EPS for the current fiscal year.

Insider Activity

In other news, Director Ra Capital Management, L.P. purchased 5,714,285 shares of the stock in a transaction on Thursday, January 30th. The shares were acquired at an average price of $8.75 per share, for a total transaction of $49,999,993.75. Following the completion of the transaction, the director now directly owns 19,554,319 shares of the company's stock, valued at approximately $171,100,291.25. This trade represents a 41.29 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, Director Charles Mcwherter acquired 5,000 shares of 89bio stock in a transaction dated Tuesday, January 21st. The shares were purchased at an average price of $6.55 per share, for a total transaction of $32,750.00. Following the completion of the transaction, the director now directly owns 15,000 shares in the company, valued at approximately $98,250. The trade was a 50.00 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 2.80% of the company's stock.

Institutional Trading of 89bio

Several hedge funds and other institutional investors have recently bought and sold shares of ETNB. Federated Hermes Inc. lifted its holdings in shares of 89bio by 206.9% in the 4th quarter. Federated Hermes Inc. now owns 6,283 shares of the company's stock worth $49,000 after acquiring an additional 4,236 shares during the last quarter. Quarry LP bought a new stake in 89bio in the fourth quarter worth $55,000. Kingswood Wealth Advisors LLC purchased a new stake in 89bio during the fourth quarter valued at about $86,000. Sandia Investment Management LP grew its stake 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 valued at $88,000 after buying an additional 2,500 shares during the last quarter. Finally, Hsbc Holdings PLC purchased a new position in shares of 89bio in the fourth quarter worth about $87,000.

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.