Weiss Ratings reiterated their sell (d-) rating on shares of 89bio (NASDAQ:ETNB – Free Report) in a research note released on Saturday,Weiss Ratings reports.
A number of other research analysts also recently issued reports on the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $29.00 price target on shares of 89bio in a report on Thursday, January 2nd. HC Wainwright reaffirmed a “buy” rating and issued a $29.00 price target on shares of 89bio in a report on Monday, November 11th. Finally, Raymond James raised 89bio to a “strong-buy” rating in a report on Thursday, December 12th. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $30.33.
Get Our Latest Analysis on 89bio
89bio Price Performance
Insider Activity at 89bio
In other 89bio news, insider Quoc Le-Nguyen sold 10,963 shares of the company’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 completion of the transaction, the insider now directly owns 271,833 shares in the company, valued at approximately $1,764,196.17. This represents a 3.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Rohan Palekar bought 10,000 shares of the company’s stock in a transaction dated Friday, November 22nd. The stock was bought at an average price of $8.35 per share, for a total transaction of $83,500.00. Following the transaction, the chief executive officer now 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 ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 25,000 shares of company stock worth $202,950. 2.80% of the stock is owned by company insiders.
Institutional Investors Weigh In On 89bio
Institutional investors have recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of 89bio during the second quarter worth $66,000. China Universal Asset Management Co. Ltd. grew its position in shares of 89bio by 76.2% in the third quarter. China Universal Asset Management Co. Ltd. now owns 20,370 shares of the company’s stock valued at $151,000 after purchasing an additional 8,810 shares in the last quarter. Intech Investment Management LLC acquired a new stake in shares of 89bio in the third quarter valued at approximately $160,000. Quest Partners LLC lifted its position in 89bio by 172.1% during the third quarter. Quest Partners LLC now owns 22,074 shares of the company’s stock worth $163,000 after buying an additional 13,961 shares in the last quarter. Finally, SG Americas Securities LLC boosted its stake in 89bio by 21.4% during 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 last quarter.
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.
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