89bio (NASDAQ:ETNB) Receives “Sell (D-)” Rating from Weiss Ratings

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

Other equities analysts have also recently issued research reports about the company. Cantor Fitzgerald reissued an “overweight” rating and set a $29.00 target price on shares of 89bio in a report on Thursday, January 2nd. Raymond James upgraded shares of 89bio to a “strong-buy” rating in a research report on Thursday, December 12th. Finally, HC Wainwright restated a “buy” rating and set a $29.00 target price on shares of 89bio in a report on Monday, November 11th. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, 89bio currently has an average rating of “Moderate Buy” and an average price target of $30.33.

89bio Stock Performance

Shares of 89bio stock traded up $0.22 during trading on Friday, hitting $6.31. 1,863,182 shares of the company’s stock were exchanged, compared to its average volume of 1,074,441. The stock has a market capitalization of $669.68 million, a price-to-earnings ratio of -2.17 and a beta of 1.14. 89bio has a 52-week low of $5.99 and a 52-week high of $16.63. The business has a 50-day simple moving average of $7.96 and a 200-day simple moving average of $8.22. The company has a debt-to-equity ratio of 0.09, a quick ratio of 11.66 and a current ratio of 11.66.

Insider Buying and Selling at 89bio

In related news, insider Quoc Le-Nguyen sold 10,963 shares of 89bio stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $6.49, for a total value of $71,149.87. Following the sale, the insider now directly owns 271,833 shares in the company, valued at $1,764,196.17. This trade represents a 3.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Rohan Palekar purchased 10,000 shares of the stock in a transaction dated Friday, November 22nd. The shares were acquired at an average cost of $8.35 per share, for a total transaction of $83,500.00. Following the completion of the acquisition, the chief executive officer now directly owns 466,236 shares of the company’s stock, valued at approximately $3,893,070.60. This trade represents a 2.19 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 25,000 shares of company stock worth $202,950 in the last quarter. 2.80% of the stock is owned by insiders.

Institutional Trading of 89bio

Hedge funds and other institutional investors have recently made changes to their positions in the business. Janus Henderson Group PLC grew its position in 89bio by 14.2% during the 3rd quarter. Janus Henderson Group PLC now owns 15,158,218 shares of the company’s stock worth $112,140,000 after purchasing an additional 1,882,108 shares in the last quarter. Erste Asset Management GmbH acquired a new position in 89bio in the 3rd quarter valued at $5,631,000. Westfield Capital Management Co. LP lifted its position in shares of 89bio by 29.6% during the 3rd quarter. Westfield Capital Management Co. LP now owns 3,006,038 shares of the company’s stock worth $22,245,000 after purchasing an additional 686,673 shares during the last quarter. Walleye Capital LLC lifted its holdings in shares of 89bio by 1,232.2% during the third quarter. Walleye Capital LLC now owns 435,298 shares of the company’s stock worth $3,221,000 after buying an additional 402,624 shares during the last quarter. Finally, Exome Asset Management LLC bought a new stake in 89bio in the 3rd quarter valued at $2,224,000.

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.