Weiss Ratings restated their sell (d-) rating on shares of 89bio (NASDAQ:ETNB – Free Report) in a research note released on Wednesday,Weiss Ratings reports.
Other equities analysts have also recently issued research reports about the company. Citigroup began coverage on 89bio in a research report on Thursday, March 13th. They set a “buy” rating and a $25.00 target price on the stock. Cantor Fitzgerald upgraded 89bio to a “strong-buy” rating in a research report on Wednesday, April 30th. HC Wainwright reiterated a “buy” rating and set a $21.00 target price (down previously from $29.00) on shares of 89bio in a research report on Friday, February 28th. Finally, The Goldman Sachs Group began coverage on 89bio in a research report on Friday, March 14th. They set a “neutral” rating and a $11.00 target price on the stock. Two analysts have rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $26.43.
Get Our Latest Analysis on ETNB
89bio Stock Up 8.2%
89bio (NASDAQ:ETNB – Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported ($0.49) EPS for the quarter, beating the consensus estimate of ($0.50) by $0.01. During the same period in the previous year, the company earned ($0.54) EPS. Equities research analysts expect that 89bio will post -3.19 earnings per share for the current year.
Insider Buying and Selling
In related news, insider Quoc Le-Nguyen sold 15,329 shares of the stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $5.95, for a total value of $91,207.55. Following the completion of the sale, the insider now directly owns 328,323 shares in the company, valued at approximately $1,953,521.85. This represents a 4.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.60% of the company’s stock.
Institutional Trading of 89bio
Large investors have recently modified their holdings of the business. RA Capital Management L.P. grew its stake in 89bio by 40.3% in the first quarter. RA Capital Management L.P. now owns 19,889,683 shares of the company’s stock worth $144,598,000 after purchasing an additional 5,714,285 shares in the last quarter. Janus Henderson Group PLC grew 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 worth $129,177,000 after purchasing an additional 1,355,838 shares in the last quarter. Suvretta Capital Management LLC grew its stake in 89bio by 27.7% in the fourth quarter. Suvretta Capital Management LLC now owns 10,202,696 shares of the company’s stock worth $79,785,000 after purchasing an additional 2,211,052 shares in the last quarter. RTW Investments LP grew its stake in 89bio by 1.3% in the fourth quarter. RTW Investments LP now owns 7,478,061 shares of the company’s stock worth $58,478,000 after purchasing an additional 99,513 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in 89bio by 25.8% in the first quarter. Vanguard Group Inc. now owns 7,163,609 shares of the company’s stock worth $52,079,000 after purchasing an additional 1,471,278 shares in the last quarter.
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.
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