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

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

Other equities analysts have also recently issued reports about the company. Cantor Fitzgerald restated an “overweight” rating and set 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 $29.00 price objective on shares of 89bio in a research report on Monday, November 11th. Finally, Raymond James upgraded 89bio to a “strong-buy” rating in a report on Thursday, December 12th. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, 89bio has an average rating of “Moderate Buy” and a consensus price target of $30.33.

89bio Stock Up 3.6 %

89bio stock opened at $6.31 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 11.66 and a current ratio of 11.66. The firm has a 50 day moving average price of $7.96 and a 200 day moving average price of $8.22. 89bio has a fifty-two week low of $5.99 and a fifty-two week high of $16.63. The company has a market capitalization of $669.68 million, a PE ratio of -2.17 and a beta of 1.14.

Insider Activity

In other 89bio news, insider Quoc Le-Nguyen sold 10,963 shares of 89bio 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 transaction, the insider now owns 271,833 shares of the company’s stock, valued at $1,764,196.17. The trade was a 3.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Rohan Palekar acquired 5,000 shares of the firm’s stock in a transaction dated Friday, December 6th. The stock was purchased at an average cost of $7.89 per share, with a total value of $39,450.00. Following the completion of the acquisition, the chief executive officer now directly owns 471,236 shares of the company’s stock, valued at approximately $3,718,052.04. This trade represents a 1.07 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 25,000 shares of company stock worth $202,950. 2.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. purchased a new position in 89bio during the 2nd quarter worth $66,000. China Universal Asset Management Co. Ltd. lifted its position in 89bio by 76.2% in the third quarter. China Universal Asset Management Co. Ltd. now owns 20,370 shares of the company’s stock valued at $151,000 after purchasing an additional 8,810 shares during the period. Intech Investment Management LLC acquired a new position in 89bio during the 3rd quarter worth approximately $160,000. Quest Partners LLC raised its stake in shares of 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 buying an additional 13,961 shares in the last quarter. Finally, SG Americas Securities LLC lifted its holdings in 89bio by 21.4% in the third quarter. SG Americas Securities LLC now owns 30,713 shares of the company’s stock valued at $227,000 after acquiring an additional 5,421 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.