Weiss Ratings reissued their sell (d-) rating on shares of 89bio (NASDAQ:ETNB - Free Report) in a research report released on Thursday,Weiss Ratings reports.
A number of other research analysts have also recently issued reports on the stock. The Goldman Sachs Group began coverage on shares of 89bio in a report on Friday, March 14th. They issued a "neutral" rating and a $11.00 target price for the company. Citigroup assumed coverage on 89bio in a report on Thursday, March 13th. They set a "buy" rating and a $25.00 price objective for the company. Cantor Fitzgerald reissued an "overweight" rating and issued a $29.00 target price on shares of 89bio in a report on Thursday, January 2nd. HC Wainwright reaffirmed a "buy" rating and set a $21.00 price target (down previously from $29.00) on shares of 89bio in a research note on Friday, February 28th. Finally, UBS Group increased their price objective on shares of 89bio from $25.00 to $38.00 and gave the company a "buy" rating in a research note on Friday, January 31st. 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 stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $27.25.
Read Our Latest Research Report on 89bio
89bio Stock Performance
Shares of ETNB stock traded up $0.46 during trading hours on Thursday, reaching $7.40. 1,618,523 shares of the company's stock were exchanged, compared to its average volume of 1,319,446. 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 $4.16 and a 1 year high of $11.84. The company has a market cap of $1.08 billion, a P/E ratio of -2.54 and a beta of 1.25. The company's 50 day moving average is $7.63 and its two-hundred day moving average is $8.17.
89bio (NASDAQ:ETNB - Get Free Report) last released its quarterly earnings data on Thursday, March 6th. The company reported ($1.02) earnings per share (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 at 89bio
In other news, Director Ra Capital Management, L.P. bought 5,714,285 shares of the firm's stock in a transaction that occurred on Thursday, January 30th. The shares were purchased 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 owns 19,554,319 shares in the company, valued at $171,100,291.25. The trade was a 41.29 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Quoc Le-Nguyen sold 15,329 shares of 89bio stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $5.95, for a total transaction of $91,207.55. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. 2.80% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
A number of large investors have recently made changes to their positions in ETNB. Federated Hermes Inc. lifted its position in 89bio by 206.9% during the fourth quarter. Federated Hermes Inc. now owns 6,283 shares of the company's stock worth $49,000 after buying an additional 4,236 shares during the period. Quarry LP purchased a new position in shares of 89bio during the 4th quarter worth about $55,000. GAMMA Investing LLC boosted its position in shares of 89bio by 4,898.7% in the first quarter. GAMMA Investing LLC now owns 7,648 shares of the company's stock worth $56,000 after acquiring an additional 7,495 shares during the last quarter. Kingswood Wealth Advisors LLC purchased a new stake in 89bio in the fourth quarter valued at approximately $86,000. Finally, Hsbc Holdings PLC acquired a new position in 89bio during the fourth quarter worth approximately $87,000.
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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