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

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

Several other equities research analysts also recently issued reports on the stock. Raymond James upgraded shares of 89bio to a “strong-buy” rating in a research note on Thursday, December 12th. UBS Group boosted their price objective on shares of 89bio from $25.00 to $38.00 and gave the stock a “buy” rating in a report on Friday. HC Wainwright reaffirmed a “buy” rating and set a $29.00 price objective on shares of 89bio in a research report on Tuesday, January 21st. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $29.00 target price on shares of 89bio in a research report on Thursday, January 2nd. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $31.43.

89bio Price Performance

Shares of NASDAQ:ETNB opened at $9.29 on Friday. The company has a market cap of $985.91 million, a price-to-earnings ratio of -3.19 and a beta of 1.14. The business has a 50 day moving average price of $7.84 and a 200 day moving average price of $8.19. The company has a quick ratio of 11.66, a current ratio of 11.66 and a debt-to-equity ratio of 0.09. 89bio has a twelve month low of $5.99 and a twelve month high of $16.63.

Insider Buying and Selling at 89bio

In related news, Director Ra Capital Management, L.P. acquired 5,714,285 shares of the business’s stock in a transaction on Thursday, January 30th. The stock was bought at an average cost of $8.75 per share, with a total value of $49,999,993.75. Following the completion of the acquisition, 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 document filed with the SEC, which is available through this hyperlink. Also, insider Quoc Le-Nguyen sold 10,963 shares of the company’s 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 completion of the sale, the insider now directly owns 271,833 shares in the company, valued at approximately $1,764,196.17. The trade was a 3.88 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have purchased 5,744,285 shares of company stock valued at $50,235,694. 2.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of ETNB. Northwestern Mutual Wealth Management Co. bought a new position in 89bio in the 2nd quarter valued at $66,000. Kingswood Wealth Advisors LLC bought a new position in shares of 89bio in the fourth quarter valued at about $86,000. New York State Common Retirement Fund lifted its position in 89bio by 24.3% during the 4th quarter. New York State Common Retirement Fund now owns 16,367 shares of the company’s stock worth $128,000 after buying an additional 3,200 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in 89bio by 76.2% during the 3rd 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. Finally, Intech Investment Management LLC bought a new stake in 89bio during the 3rd quarter worth about $160,000.

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.