89bio (NASDAQ:ETNB - Get Free Report)'s stock had its "sell (d-)" rating reaffirmed by investment analysts at Weiss Ratings in a report issued on Saturday,Weiss Ratings reports.
A number of other brokerages have also recently weighed in on ETNB. Citigroup assumed coverage on 89bio in a research report on Thursday, March 13th. They issued a "buy" rating and a $25.00 price target for the company. Cantor Fitzgerald upgraded 89bio to a "strong-buy" rating in a report on Wednesday, April 30th. The Goldman Sachs Group initiated coverage on shares of 89bio in a research note on Friday, March 14th. They set a "neutral" rating and a $11.00 price objective for the company. UBS Group raised their price objective on 89bio from $25.00 to $38.00 and gave the company a "buy" rating in a research report on Friday, January 31st. Finally, Wolfe Research started coverage on shares of 89bio in a research note on Tuesday, February 4th. They set an "outperform" rating on the stock. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $27.25.
Get Our Latest Analysis on 89bio
89bio Stock Performance
ETNB stock traded up $0.41 on Friday, hitting $8.11. The company's stock had a trading volume of 1,330,748 shares, compared to its average volume of 1,361,671. The firm has a 50 day moving average of $7.26 and a two-hundred day moving average of $8.16. 89bio has a 1 year low of $4.16 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 stock has a market cap of $1.18 billion, a price-to-earnings ratio of -2.79 and a beta of 1.23.
89bio (NASDAQ:ETNB - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported ($0.49) earnings per share for the quarter, topping the consensus estimate of ($0.50) by $0.01. During the same period last year, the company earned ($0.54) EPS. Equities analysts predict that 89bio will post -3.19 EPS for the current fiscal year.
Insider Transactions at 89bio
In other news, insider Quoc Le-Nguyen sold 15,329 shares of the company's stock in a transaction that occurred 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 transaction, the insider now directly owns 328,323 shares of the company's stock, valued at approximately $1,953,521.85. This represents a 4.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.60% of the company's stock.
Hedge Funds Weigh In On 89bio
Several hedge funds and other institutional investors have recently modified their holdings of ETNB. Janus Henderson Group PLC grew its stake in shares of 89bio by 8.9% in the fourth quarter. Janus Henderson Group PLC now owns 16,514,056 shares of the company's stock worth $129,177,000 after purchasing an additional 1,355,838 shares in the last quarter. Suvretta Capital Management LLC increased its holdings in shares of 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 in the last quarter. RTW Investments LP lifted its holdings in shares of 89bio by 1.3% during the fourth quarter. RTW Investments LP now owns 7,478,061 shares of the company's stock valued at $58,478,000 after purchasing an additional 99,513 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of 89bio by 25.8% in the first quarter. Vanguard Group Inc. now owns 7,163,609 shares of the company's stock worth $52,079,000 after buying an additional 1,471,278 shares during the period. Finally, Deep Track Capital LP grew its holdings in shares of 89bio by 134.2% during the fourth quarter. Deep Track Capital LP now owns 6,478,249 shares of the company's stock valued at $50,660,000 after buying an additional 3,711,737 shares in the last quarter.
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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