89bio (NASDAQ:ETNB) Given “Sell (D-)” Rating at Weiss Ratings

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

ETNB has been the subject of several other reports. HC Wainwright reissued a “buy” rating and set a $21.00 price objective (down from $29.00) on shares of 89bio in a report on Friday, February 28th. Wolfe Research initiated coverage on 89bio in a research report on Tuesday, February 4th. They set an “outperform” rating for the company. The Goldman Sachs Group initiated coverage on 89bio in a research report on Friday, March 14th. They set a “neutral” rating and a $11.00 target price for the company. Raymond James upgraded 89bio to a “strong-buy” rating in a research report on Thursday, December 12th. Finally, UBS Group boosted their target price on 89bio from $25.00 to $38.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, 89bio currently has an average rating of “Moderate Buy” and a consensus price target of $27.56.

89bio Stock Performance

Shares of NASDAQ:ETNB opened at $8.52 on Friday. The stock has a market capitalization of $1.24 billion, a P/E ratio of -2.93 and a beta of 1.17. 89bio has a 1-year low of $5.99 and a 1-year high of $11.84. The company has a current ratio of 11.66, a quick ratio of 11.66 and a debt-to-equity ratio of 0.09. The business has a 50-day moving average price of $8.94 and a two-hundred day moving average price of $8.42.

89bio (NASDAQ:ETNB) last announced its quarterly earnings data on Thursday, March 6th. The company reported ($1.02) earnings per share for the quarter, missing the consensus estimate of ($0.60) by ($0.42). Equities analysts predict that 89bio will post -3.19 earnings per share for the current year.

Insider Activity at 89bio

In other 89bio news, insider Quoc Le-Nguyen sold 10,963 shares of the company’s stock in a transaction that occurred on 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 transaction, the insider now owns 271,833 shares of the company’s stock, valued at $1,764,196.17. This represents a 3.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Charles Mcwherter purchased 5,000 shares of 89bio stock in a transaction on Tuesday, January 21st. The shares were purchased at an average cost of $6.55 per share, with a total value of $32,750.00. Following the transaction, the director now owns 15,000 shares in the company, valued at approximately $98,250. The trade was a 50.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.80% of the stock is owned by insiders.

Hedge Funds Weigh In On 89bio

A number of large investors have recently bought and sold shares of ETNB. Quest Partners LLC boosted its position in 89bio by 172.1% during the 3rd quarter. Quest Partners LLC now owns 22,074 shares of the company’s stock worth $163,000 after acquiring an additional 13,961 shares during the last quarter. Intech Investment Management LLC acquired a new position in 89bio during the 3rd quarter worth approximately $160,000. Charles Schwab Investment Management Inc. boosted its position in 89bio by 8.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 721,050 shares of the company’s stock worth $5,336,000 after acquiring an additional 53,932 shares during the last quarter. Algert Global LLC boosted its position in 89bio by 103.4% during the 3rd quarter. Algert Global LLC now owns 62,217 shares of the company’s stock worth $460,000 after acquiring an additional 31,630 shares during the last quarter. Finally, Westfield Capital Management Co. LP boosted its position in 89bio by 29.6% during the 3rd quarter. Westfield Capital Management Co. LP now owns 3,006,038 shares of the company’s stock worth $22,245,000 after acquiring an additional 686,673 shares during the last quarter.

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.