89bio’s (ETNB) “Sell (D-)” Rating Reiterated at Weiss Ratings

Weiss Ratings reiterated their sell (d-) rating on shares of 89bio (NASDAQ:ETNB) in a research note published on Wednesday morning,Weiss Ratings reports.

A number of other brokerages have also recently weighed in on ETNB. UBS Group lifted their price objective on shares of 89bio from $25.00 to $38.00 and gave the company a “buy” rating in a report on Friday, January 31st. Cantor Fitzgerald restated an “overweight” rating and issued a $29.00 price target on shares of 89bio in a research note on Thursday, January 2nd. Raymond James upgraded 89bio to a “strong-buy” rating in a research note on Thursday, December 12th. HC Wainwright reissued a “buy” rating and set a $29.00 target price on shares of 89bio in a research note on Tuesday, January 21st. Finally, Wolfe Research assumed coverage on 89bio in a research report on Tuesday, February 4th. They issued an “outperform” rating on the stock. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $31.43.

89bio Stock Performance

Shares of 89bio stock opened at $11.08 on Wednesday. The stock has a market capitalization of $1.18 billion, a price-to-earnings ratio of -3.81 and a beta of 1.17. The company has a debt-to-equity ratio of 0.09, a current ratio of 11.66 and a quick ratio of 11.66. The business has a 50-day moving average of $8.58 and a 200 day moving average of $8.41. 89bio has a 12 month low of $5.99 and a 12 month high of $16.63.

Insider Transactions at 89bio

In related news, insider Quoc Le-Nguyen sold 10,963 shares of the business’s 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 completion of the sale, the insider now owns 271,833 shares in the company, 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Charles Mcwherter purchased 10,000 shares of the company’s stock in a transaction on Thursday, December 5th. The stock was bought at an average price of $8.00 per share, for a total transaction of $80,000.00. Following the completion of the purchase, the director now directly owns 10,000 shares of the company’s stock, valued at $80,000. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 5,734,285 shares of company stock valued at $50,152,194. 2.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On 89bio

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Janus Henderson Group PLC boosted its stake in 89bio by 8.9% in the fourth quarter. Janus Henderson Group PLC now owns 16,514,056 shares of the company’s stock valued at $129,177,000 after acquiring an additional 1,355,838 shares in the last quarter. Suvretta Capital Management LLC lifted its holdings in shares of 89bio by 27.7% in the 4th quarter. Suvretta Capital Management LLC now owns 10,202,696 shares of the company’s stock valued at $79,785,000 after purchasing an additional 2,211,052 shares during the last quarter. RTW Investments LP boosted its position in shares of 89bio by 1.3% in the 4th 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 period. Deep Track Capital LP grew its stake in 89bio by 134.2% during the 4th quarter. Deep Track Capital LP now owns 6,478,249 shares of the company’s stock worth $50,660,000 after buying an additional 3,711,737 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in 89bio by 13.7% during the fourth quarter. Vanguard Group Inc. now owns 5,692,331 shares of the company’s stock worth $44,514,000 after buying an additional 686,054 shares during the period.

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.