89bio (NASDAQ:ETNB) Given Sell (D-) Rating at Weiss Ratings

Weiss Ratings restated their sell (d-) rating on shares of 89bio (NASDAQ:ETNB) in a research report report published on Saturday,Weiss Ratings reports.

A number of other equities analysts have also commented on ETNB. UBS Group raised their price objective on 89bio from $25.00 to $38.00 and gave the stock a “buy” rating in a research note on Friday. HC Wainwright restated a “buy” rating and set a $29.00 price objective on shares of 89bio in a research note on Tuesday, January 21st. Raymond James upgraded 89bio to a “strong-buy” rating in a research note on Thursday, December 12th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $29.00 price objective on shares of 89bio in a research note on Thursday, January 2nd. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $31.43.

89bio Price Performance

Shares of NASDAQ ETNB opened at $9.29 on Friday. The firm has a market cap of $985.91 million, a P/E ratio of -3.19 and a beta of 1.14. 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 1-year low of $5.99 and a 1-year high of $16.63. The business’s 50 day moving average is $7.84 and its 200-day moving average is $8.19.

Insider Activity at 89bio

In related news, CEO Rohan Palekar bought 5,000 shares of the business’s stock in a transaction on Friday, December 6th. The shares were purchased at an average cost of $7.89 per share, with a total value of $39,450.00. Following the acquisition, the chief executive officer now owns 471,236 shares of the company’s stock, valued at $3,718,052.04. This represents a 1.07 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ra Capital Management, L.P. bought 5,714,285 shares of the business’s stock in a transaction on Thursday, January 30th. The shares were bought at an average cost of $8.75 per share, for a total transaction of $49,999,993.75. Following the completion of the acquisition, the director now directly owns 19,554,319 shares in the company, valued at approximately $171,100,291.25. This trade represents a 41.29 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 5,744,285 shares of company stock valued at $50,235,694 in the last 90 days. 2.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ETNB. Northwestern Mutual Wealth Management Co. bought a new position in shares of 89bio in the 2nd quarter worth about $66,000. Kingswood Wealth Advisors LLC bought a new position in shares of 89bio in the 4th quarter worth about $86,000. New York State Common Retirement Fund raised its position in shares of 89bio by 24.3% in the 4th quarter. New York State Common Retirement Fund now owns 16,367 shares of the company’s stock worth $128,000 after acquiring an additional 3,200 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its position in shares of 89bio by 76.2% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 20,370 shares of the company’s stock worth $151,000 after acquiring an additional 8,810 shares in the last quarter. Finally, Intech Investment Management LLC bought a new position in shares of 89bio in the 3rd quarter worth about $160,000.

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.