89BIO (NASDAQ:ETNB) Rating Lowered to “Strong Sell” at Wall Street Zen

89BIO (NASDAQ:ETNB) was downgraded by investment analysts at Wall Street Zen to a “strong sell” rating in a research note issued on Saturday.

Several other equities research analysts also recently issued reports on ETNB. Zacks Research downgraded shares of 89BIO from a “hold” rating to a “strong sell” rating in a research report on Monday, October 20th. Raymond James Financial cut shares of 89BIO from a “strong-buy” rating to a “market perform” rating in a report on Friday, September 19th. Wolfe Research cut shares of 89BIO from an “outperform” rating to a “peer perform” rating in a report on Friday, September 19th. Cantor Fitzgerald restated an “overweight” rating on shares of 89BIO in a report on Friday. Finally, HC Wainwright cut shares of 89BIO from a “buy” rating to a “neutral” rating and set a $14.50 target price for the company. in a report on Friday, September 19th. Four equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $25.81.

89BIO Price Performance

Shares of ETNB stock opened at $14.84 on Friday. The firm has a fifty day moving average of $12.63 and a 200-day moving average of $10.42. 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 12-month low of $4.16 and a 12-month high of $15.06. The company has a market capitalization of $2.20 billion, a price-to-earnings ratio of -4.11 and a beta of 1.27.

89BIO (NASDAQ:ETNB) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.71) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.49) by ($0.22). During the same period in the prior year, the company earned ($0.48) EPS. As a group, equities research analysts predict that 89BIO will post -3.19 earnings per share for the current fiscal year.

Institutional Trading of 89BIO

Large investors have recently added to or reduced their stakes in the company. KBC Group NV acquired a new stake in 89BIO in the second quarter valued at $55,000. CWM LLC raised its position in shares of 89BIO by 9,265.1% in the first quarter. CWM LLC now owns 5,900 shares of the company’s stock valued at $43,000 after purchasing an additional 5,837 shares during the period. Osaic Holdings Inc. raised its position in shares of 89BIO by 25.9% in the second quarter. Osaic Holdings Inc. now owns 6,463 shares of the company’s stock valued at $63,000 after purchasing an additional 1,330 shares during the period. AlphaQuest LLC raised its position in shares of 89BIO by 213.8% in the second quarter. AlphaQuest LLC now owns 6,614 shares of the company’s stock valued at $65,000 after purchasing an additional 4,506 shares during the period. Finally, Ieq Capital LLC bought a new position in shares of 89BIO in the first quarter valued at about $89,000.

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.