89bio’s (ETNB) “Sell (D-)” Rating Reaffirmed at Weiss Ratings

89bio (NASDAQ:ETNB)‘s stock had its “sell (d-)” rating reiterated by research analysts at Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

A number of other analysts also recently issued reports on the stock. Cantor Fitzgerald upgraded shares of 89bio to a “strong-buy” rating in a report on Wednesday, April 30th. The Goldman Sachs Group started coverage on shares of 89bio in a research note on Friday, March 14th. They issued a “neutral” rating and a $11.00 target price for the company. HC Wainwright reiterated a “buy” rating and issued a $21.00 target price (down previously from $29.00) on shares of 89bio in a research note on Friday, February 28th. Finally, Citigroup started coverage on shares of 89bio in a research note on Thursday, March 13th. They issued a “buy” rating and a $25.00 target price for the company. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $26.43.

89bio Stock Down 4.2%

ETNB opened at $9.62 on Wednesday. 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’s 50-day moving average is $7.95 and its 200 day moving average is $8.26. 89bio has a fifty-two week low of $4.16 and a fifty-two week high of $11.84. The firm has a market capitalization of $1.40 billion, a P/E ratio of -3.31 and a beta of 1.30.

89bio (NASDAQ:ETNB) last posted its quarterly earnings data on Thursday, May 1st. The company reported ($0.49) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.01. During the same quarter in the previous year, the company posted ($0.54) EPS. Research analysts expect that 89bio will post -3.19 earnings per share for the current fiscal year.

Insider Activity at 89bio

In other 89bio news, insider Quoc Le-Nguyen sold 15,329 shares of 89bio stock in a transaction that occurred on Tuesday, April 15th. The shares were 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 in the company, valued at $1,953,521.85. The trade was a 4.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On 89bio

Several hedge funds have recently bought and sold shares of the stock. Rhumbline Advisers lifted its position in 89bio by 17.0% during the first quarter. Rhumbline Advisers now owns 152,138 shares of the company’s stock valued at $1,106,000 after purchasing an additional 22,158 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of 89bio by 50.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 268,798 shares of the company’s stock worth $1,954,000 after acquiring an additional 90,107 shares during the last quarter. Woodline Partners LP lifted its holdings in shares of 89bio by 77.5% in the 1st quarter. Woodline Partners LP now owns 700,754 shares of the company’s stock worth $5,094,000 after acquiring an additional 305,928 shares during the last quarter. Exome Asset Management LLC lifted its holdings in shares of 89bio by 57.1% in the 1st quarter. Exome Asset Management LLC now owns 353,882 shares of the company’s stock worth $2,573,000 after acquiring an additional 128,559 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of 89bio by 23.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 995,449 shares of the company’s stock worth $7,237,000 after acquiring an additional 188,367 shares during the last quarter.

About 89bio

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.