Weiss Ratings Reiterates “Sell (D-)” Rating for 89bio (NASDAQ:ETNB)

89bio (NASDAQ:ETNB)‘s stock had its “sell (d-)” rating restated by stock analysts at Weiss Ratings in a research note issued on Saturday,Weiss Ratings reports.

Several other equities analysts also recently weighed in on the company. HC Wainwright restated a “buy” rating and set a $29.00 price target on shares of 89bio in a report on Monday, November 11th. 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. Finally, Raymond James raised shares of 89bio to a “strong-buy” rating in a report on Thursday, December 12th. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.33.

89bio Stock Up 3.6 %

Shares of NASDAQ ETNB opened at $6.31 on Friday. The firm has a fifty day simple moving average of $7.96 and a two-hundred day simple moving average of $8.22. 89bio has a 12 month low of $5.99 and a 12 month high of $16.63. 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 firm has a market capitalization of $669.68 million, a PE ratio of -2.17 and a beta of 1.14.

Insider Buying and Selling

In related news, CEO Rohan Palekar bought 10,000 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The stock was purchased at an average price of $8.35 per share, for a total transaction of $83,500.00. Following the completion of the transaction, the chief executive officer now owns 466,236 shares in the company, valued at $3,893,070.60. The trade was a 2.19 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Quoc Le-Nguyen sold 10,963 shares of the firm’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $6.49, for a total transaction of $71,149.87. Following the transaction, the insider now directly owns 271,833 shares of the company’s stock, valued at $1,764,196.17. The trade was a 3.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders bought 25,000 shares of company stock valued at $202,950. 2.80% of the stock is owned by corporate insiders.

Institutional Trading of 89bio

Several hedge funds have recently modified their holdings of ETNB. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in 89bio by 1.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 140,998 shares of the company’s stock valued at $1,043,000 after purchasing an additional 1,624 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of 89bio by 12.8% in the second quarter. The Manufacturers Life Insurance Company now owns 31,355 shares of the company’s stock worth $251,000 after buying an additional 3,557 shares during the period. SG Americas Securities LLC raised its holdings in shares of 89bio by 21.4% in the third quarter. SG Americas Securities LLC now owns 30,713 shares of the company’s stock worth $227,000 after buying an additional 5,421 shares during the period. Algert Global LLC lifted its stake in shares of 89bio by 30.8% during the 2nd quarter. Algert Global LLC now owns 30,587 shares of the company’s stock worth $245,000 after acquiring an additional 7,203 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. purchased a new position in 89bio during the 2nd quarter valued at $66,000.

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.