Weiss Ratings reissued their sell (d-) rating on shares of 89BIO (NASDAQ:ETNB - Free Report) in a report released on Friday morning,Weiss Ratings reports.
ETNB has been the topic of several other research reports. Citigroup assumed coverage on shares of 89BIO in a research note on Thursday, March 13th. They issued a "buy" rating and a $25.00 price target on the stock. Cantor Fitzgerald raised 89BIO to a "strong-buy" rating in a research note on Wednesday, April 30th. The Goldman Sachs Group began coverage on 89BIO in a report on Friday, March 14th. They set a "neutral" rating and a $11.00 price target for the company. Finally, HC Wainwright reaffirmed 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. Two equities research 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 stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $26.43.
View Our Latest Stock Report on ETNB
89BIO Price Performance
Shares of NASDAQ:ETNB traded down $0.09 during trading on Friday, hitting $9.73. 1,927,848 shares of the company's stock were exchanged, compared to its average volume of 1,507,290. The business's 50-day simple moving average is $9.06 and its 200 day simple moving average is $8.40. The company has a market cap of $1.42 billion, a price-to-earnings ratio of -2.88 and a beta of 1.28. 89BIO has a 52-week low of $4.16 and a 52-week high of $11.84. The company has a debt-to-equity ratio of 0.06, a current ratio of 18.03 and a quick ratio of 18.03.
89BIO (NASDAQ:ETNB - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported ($0.49) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.50) by $0.01. During the same quarter in the previous year, the business earned ($0.54) EPS. As a group, equities analysts predict that 89BIO will post -3.19 EPS for the current year.
Insider Activity at 89BIO
In related news, insider Quoc Le-Nguyen sold 15,329 shares of the 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 sale, the insider owned 328,323 shares in the company, valued at approximately $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 accessible through this hyperlink. Company insiders own 2.80% of the company's stock.
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of ETNB. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of 89BIO by 2.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 51,154 shares of the company's stock worth $400,000 after purchasing an additional 1,169 shares during the period. Victory Capital Management Inc. boosted its position in shares of 89BIO by 11.5% during the fourth quarter. Victory Capital Management Inc. now owns 13,969 shares of the company's stock valued at $109,000 after buying an additional 1,437 shares during the period. Comerica Bank boosted its position in shares of 89BIO by 0.6% during the first quarter. Comerica Bank now owns 258,123 shares of the company's stock valued at $1,877,000 after buying an additional 1,540 shares during the period. Algert Global LLC grew its stake in shares of 89BIO by 0.9% during the first quarter. Algert Global LLC now owns 186,991 shares of the company's stock valued at $1,359,000 after buying an additional 1,584 shares during the last quarter. Finally, Sandia Investment Management LP raised its holdings in shares of 89BIO by 28.5% in the fourth quarter. Sandia Investment Management LP now owns 11,286 shares of the company's stock worth $88,000 after buying an additional 2,500 shares during the period.
89BIO Company Profile
(
Get Free Report)
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.
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