Eiger BioPharmaceuticals (NASDAQ:EIGR) Stock Price Passes Below 200-Day Moving Average of $6.86

Eiger BioPharmaceuticals, Inc. (NASDAQ:EIGRGet Rating)’s share price passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $6.86 and traded as low as $4.10. Eiger BioPharmaceuticals shares last traded at $4.11, with a volume of 173,324 shares traded.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on EIGR shares. StockNews.com lowered shares of Eiger BioPharmaceuticals from a “hold” rating to a “sell” rating in a report on Friday, November 4th. BTIG Research reduced their target price on shares of Eiger BioPharmaceuticals from $57.00 to $48.00 and set a “buy” rating on the stock in a report on Wednesday, September 7th.

Eiger BioPharmaceuticals Stock Performance

The company has a market capitalization of $181.13 million, a PE ratio of -1.71 and a beta of 1.44. The company has a debt-to-equity ratio of 0.50, a quick ratio of 5.34 and a current ratio of 5.45. The stock’s fifty day simple moving average is $5.63 and its 200-day simple moving average is $6.86.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. 683 Capital Management LLC lifted its holdings in Eiger BioPharmaceuticals by 12.0% in the 3rd quarter. 683 Capital Management LLC now owns 4,329,751 shares of the biotechnology company’s stock valued at $32,603,000 after purchasing an additional 464,751 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Eiger BioPharmaceuticals by 5.8% during the 3rd quarter. Vanguard Group Inc. now owns 2,030,583 shares of the biotechnology company’s stock worth $15,291,000 after acquiring an additional 111,247 shares during the period. State Street Corp lifted its holdings in shares of Eiger BioPharmaceuticals by 14.3% during the 3rd quarter. State Street Corp now owns 803,099 shares of the biotechnology company’s stock worth $6,047,000 after acquiring an additional 100,749 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Eiger BioPharmaceuticals by 23.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 662,369 shares of the biotechnology company’s stock worth $4,988,000 after acquiring an additional 124,754 shares during the period. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Eiger BioPharmaceuticals by 4.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 637,133 shares of the biotechnology company’s stock worth $4,014,000 after acquiring an additional 26,187 shares during the period. 67.87% of the stock is currently owned by hedge funds and other institutional investors.

About Eiger BioPharmaceuticals

(Get Rating)

Eiger BioPharmaceuticals, Inc, a commercial-stage biopharmaceutical company, focuses on the development and commercialization of targeted therapies for rare and ultra-rare diseases in the United States and internationally. Its lead product candidate is Lonafarnib, an orally bioavailable, small molecule, which is in Phase III clinical trials to treat hepatitis delta virus infection.

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