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

Weiss Ratings reaffirmed their sell (d-) rating on shares of 89bio (NASDAQ:ETNB - Free Report) in a research report sent to investors on Wednesday morning,Weiss Ratings reports.

ETNB has been the topic of a number of other reports. Cantor Fitzgerald raised 89bio to a "strong-buy" rating in a research note on Wednesday, April 30th. Citigroup began coverage on 89bio in a report on Thursday, March 13th. They set a "buy" rating and a $25.00 target price on the stock. The Goldman Sachs Group assumed coverage on 89bio in a report on Friday, March 14th. They set a "neutral" rating and a $11.00 price objective on the stock. Finally, 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 report on Friday, February 28th. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $26.43.

89bio Stock Performance

Shares of ETNB stock traded up $0.79 during trading hours on Wednesday, hitting $10.41. The stock had a trading volume of 3,933,699 shares, compared to its average volume of 1,499,119. The firm has a market capitalization of $1.52 billion, a PE ratio of -3.58 and a beta of 1.30. 89bio has a twelve month low of $4.16 and a twelve month high of $11.84. The stock's 50 day moving average is $8.06 and its 200 day moving average is $8.27. 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 (NASDAQ:ETNB - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported ($0.49) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.50) by $0.01. During the same period in the previous year, the firm posted ($0.54) earnings per share. As a group, research analysts forecast that 89bio will post -3.19 earnings per share for the current fiscal year.

Insider Transactions at 89bio

In other news, insider Quoc Le-Nguyen sold 15,329 shares of the business's stock in a transaction 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 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.60% of the stock is owned by insiders.

Institutional Investors Weigh In On 89bio

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. RA Capital Management L.P. boosted its position in shares of 89bio by 40.3% during the first quarter. RA Capital Management L.P. now owns 19,889,683 shares of the company's stock worth $144,598,000 after buying an additional 5,714,285 shares during the period. Avoro Capital Advisors LLC bought a new stake in 89bio during the fourth quarter worth about $32,062,000. Deep Track Capital LP raised its holdings in 89bio by 134.2% during the fourth quarter. Deep Track Capital LP now owns 6,478,249 shares of the company's stock worth $50,660,000 after acquiring an additional 3,711,737 shares in the last quarter. Suvretta Capital Management LLC raised its stake in 89bio by 27.7% in the fourth quarter. Suvretta Capital Management LLC now owns 10,202,696 shares of the company's stock valued at $79,785,000 after buying an additional 2,211,052 shares during the period. Finally, Beck Bode LLC bought a new stake in 89bio in the first quarter valued at approximately $13,199,000.

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.