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

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

ETNB has been the subject of a number of other research reports. HC Wainwright reissued a "buy" rating and issued a $21.00 price objective (down previously from $29.00) on shares of 89bio in a research report on Friday, February 28th. The Goldman Sachs Group began coverage on shares of 89bio in a research note on Friday, March 14th. They issued a "neutral" rating and a $11.00 price objective for the company. Citigroup began coverage on shares of 89bio in a research report on Thursday, March 13th. They issued a "buy" rating and a $25.00 target price for the company. Finally, Cantor Fitzgerald upgraded shares of 89bio to a "strong-buy" rating in a research report on Wednesday, April 30th. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $26.43.

89bio Stock Up 8.2%

Shares of ETNB stock traded up $0.79 during trading hours on Wednesday, hitting $10.41. 3,933,699 shares of the company were exchanged, compared to its average volume of 1,498,142. The business has a 50 day moving average of $8.06 and a two-hundred day moving average of $8.28. The company has a current ratio of 11.66, a quick ratio of 11.66 and a debt-to-equity ratio of 0.09. 89bio has a 52 week low of $4.16 and a 52 week high of $11.84. The company has a market capitalization of $1.52 billion, a PE ratio of -3.58 and a beta of 1.30.

89bio (NASDAQ:ETNB - Get Free Report) last issued 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 quarter in the prior year, the company posted ($0.54) EPS. Analysts anticipate that 89bio will post -3.19 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Quoc Le-Nguyen sold 15,329 shares of the company's stock in a transaction 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. This represents a 4.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 2.60% of the company's stock.

Hedge Funds Weigh In On 89bio

A number of hedge funds have recently bought and sold shares of ETNB. CWM LLC grew its position in 89bio by 9,265.1% during the 1st quarter. CWM LLC now owns 5,900 shares of the company's stock valued at $43,000 after purchasing an additional 5,837 shares during the last quarter. Federated Hermes Inc. grew its position in 89bio by 206.9% during the 4th quarter. Federated Hermes Inc. now owns 6,283 shares of the company's stock valued at $49,000 after purchasing an additional 4,236 shares during the last quarter. Quarry LP purchased a new stake in 89bio during the 4th quarter valued at about $55,000. GAMMA Investing LLC grew its position in 89bio by 4,898.7% during the 1st quarter. GAMMA Investing LLC now owns 7,648 shares of the company's stock valued at $56,000 after purchasing an additional 7,495 shares during the last quarter. Finally, Hsbc Holdings PLC purchased a new stake in 89bio during the 4th quarter valued at about $87,000.

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.