89BIO’s (ETNB) Sell (D-) Rating Reaffirmed at Weiss Ratings

89BIO (NASDAQ:ETNB)‘s stock had its “sell (d-)” rating restated by investment analysts at Weiss Ratings in a report released on Saturday,Weiss Ratings reports.

Several other equities research analysts have also commented on the stock. HC Wainwright initiated coverage on shares of 89BIO in a research note on Thursday, September 4th. They set a “buy” rating and a $32.00 price objective on the stock. Bank of America decreased their target price on 89BIO from $30.00 to $29.00 and set a “buy” rating for the company in a research report on Monday, August 25th. Finally, Royal Bank Of Canada lowered their price target on 89BIO from $12.00 to $11.00 and set a “sector perform” rating on the stock in a report on Friday, August 8th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, 89BIO currently has a consensus rating of “Buy” and an average target price of $28.00.

89BIO Price Performance

Shares of 89BIO stock opened at $8.02 on Friday. The company has a quick ratio of 15.19, a current ratio of 15.19 and a debt-to-equity ratio of 0.07. 89BIO has a 52 week low of $4.16 and a 52 week high of $11.84. The company has a market cap of $1.19 billion, a PE ratio of -2.22 and a beta of 1.27. The business has a 50 day moving average of $9.44 and a 200 day moving average of $8.72.

89BIO (NASDAQ:ETNB) last announced its earnings results on Thursday, August 7th. The company reported ($0.71) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.22). During the same quarter in the previous year, the company earned ($0.48) EPS. As a group, equities research analysts forecast that 89BIO will post -3.19 earnings per share for the current year.

Insider Buying and Selling at 89BIO

In related news, insider Quoc Le-Nguyen sold 10,461 shares of the business’s stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $11.02, for a total value of $115,280.22. Following the sale, the insider directly owned 309,364 shares in the company, valued at approximately $3,409,191.28. The trade was a 3.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Northern Trust Corp increased its stake in 89BIO by 7.6% during the fourth quarter. Northern Trust Corp now owns 854,787 shares of the company’s stock worth $6,684,000 after acquiring an additional 60,075 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in 89BIO by 107.7% during the 4th quarter. Ameriprise Financial Inc. now owns 28,230 shares of the company’s stock valued at $221,000 after acquiring an additional 14,641 shares during the period. Bank of America Corp DE grew its holdings in shares of 89BIO by 10.1% in the fourth quarter. Bank of America Corp DE now owns 358,574 shares of the company’s stock worth $2,804,000 after purchasing an additional 32,867 shares during the last quarter. Deutsche Bank AG increased its holdings in 89BIO by 48.1% during the 4th quarter. Deutsche Bank AG now owns 78,059 shares of the company’s stock worth $610,000 after purchasing an additional 25,353 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of 89BIO by 2.3% in 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.

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.