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

Weiss Ratings reiterated their sell (d-) rating on shares of 89bio (NASDAQ:ETNB - Free Report) in a research report sent to investors on Saturday morning,Weiss Ratings reports.

Several other research analysts have also recently commented on ETNB. Cantor Fitzgerald reiterated an "overweight" rating and issued a $29.00 price target on shares of 89bio in a research note on Thursday, January 2nd. 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 note on Friday, January 31st. HC Wainwright reissued a "buy" rating and issued a $29.00 target price on shares of 89bio in a research report on Tuesday, January 21st. Finally, Raymond James raised shares of 89bio to a "strong-buy" rating in a research report on Thursday, December 12th. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, 89bio currently has a consensus rating of "Moderate Buy" and an average price target of $31.43.

89bio Stock Down 0.2 %

NASDAQ ETNB traded down $0.02 on Friday, reaching $11.41. The company had a trading volume of 1,402,271 shares, compared to its average volume of 3,248,995. 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 has a 1 year low of $5.99 and a 1 year high of $16.63. The firm has a 50-day moving average of $7.98 and a 200-day moving average of $8.26. The firm has a market capitalization of $1.21 billion, a PE ratio of -3.92 and a beta of 1.17.

Insider Transactions at 89bio

In other news, Director Charles Mcwherter bought 10,000 shares of the firm's stock in a transaction on Thursday, December 5th. The stock was purchased at an average price of $8.00 per share, for a total transaction of $80,000.00. Following the transaction, the director now owns 10,000 shares in the company, valued at approximately $80,000. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 acquired at an average cost of $8.75 per share, for a total transaction of $49,999,993.75. Following the purchase, the director now directly owns 19,554,319 shares in the company, valued at $171,100,291.25. This represents a 41.29 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 5,744,285 shares of company stock worth $50,235,694. 2.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On 89bio

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Victory Capital Management Inc. boosted its stake in shares of 89bio by 11.5% during the 4th quarter. Victory Capital Management Inc. now owns 13,969 shares of the company's stock worth $109,000 after acquiring an additional 1,437 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in 89bio by 1.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 140,998 shares of the company's stock valued at $1,043,000 after buying an additional 1,624 shares during the period. New York State Common Retirement Fund raised its position in 89bio by 24.3% during the fourth quarter. New York State Common Retirement Fund now owns 16,367 shares of the company's stock valued at $128,000 after acquiring an additional 3,200 shares in the last quarter. Arizona State Retirement System raised its holdings in 89bio by 15.8% during the fourth quarter. Arizona State Retirement System now owns 23,817 shares of the company's stock valued at $186,000 after buying an additional 3,252 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in 89bio by 12.8% during the second quarter. The Manufacturers Life Insurance Company now owns 31,355 shares of the company's stock worth $251,000 after purchasing an additional 3,557 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.