Sabby Management LLC decreased its holdings in Eiger Biopharmaceuticals Inc. (NASDAQ:EIGR) by 34.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 32,190 shares of the biotechnology company’s stock after selling 16,810 shares during the quarter. Sabby Management LLC owned about 0.31% of Eiger Biopharmaceuticals worth $317,000 as of its most recent filing with the SEC.
Other large investors have also added to or reduced their stakes in the company. DRW Securities LLC purchased a new position in Eiger Biopharmaceuticals in the first quarter worth $158,000. Wedbush Securities Inc. purchased a new position in Eiger Biopharmaceuticals in the first quarter worth $191,000. Northern Trust Corp raised its position in Eiger Biopharmaceuticals by 169.7% in the first quarter. Northern Trust Corp now owns 29,376 shares of the biotechnology company’s stock worth $289,000 after acquiring an additional 18,483 shares in the last quarter. Unterberg Capital LLC purchased a new position in Eiger Biopharmaceuticals in the fourth quarter worth $698,000. Finally, Knott David M raised its position in Eiger Biopharmaceuticals by 181.2% in the first quarter. Knott David M now owns 61,857 shares of the biotechnology company’s stock worth $609,000 after acquiring an additional 39,857 shares in the last quarter. Hedge funds and other institutional investors own 65.92% of the company’s stock.
Shares of Eiger Biopharmaceuticals opened at $14.60 on Monday, MarketBeat reports. The firm has a market capitalization of $153.89 million, a PE ratio of -3.00 and a beta of 1.81. Eiger Biopharmaceuticals Inc. has a fifty-two week low of $6.10 and a fifty-two week high of $18.00. The company has a debt-to-equity ratio of 0.81, a current ratio of 4.51 and a quick ratio of 4.51.
Eiger Biopharmaceuticals (NASDAQ:EIGR) last posted its quarterly earnings data on Friday, May 11th. The biotechnology company reported ($0.84) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.96) by $0.12. sell-side analysts anticipate that Eiger Biopharmaceuticals Inc. will post -3.06 earnings per share for the current fiscal year.
EIGR has been the subject of several research analyst reports. Zacks Investment Research upgraded Eiger Biopharmaceuticals from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a research report on Tuesday, May 15th. Oppenheimer set a $26.00 price objective on Eiger Biopharmaceuticals and gave the stock a “buy” rating in a research report on Friday, May 11th. B. Riley initiated coverage on Eiger Biopharmaceuticals in a research report on Wednesday, May 9th. They issued a “buy” rating and a $24.00 price objective for the company. ValuEngine upgraded Eiger Biopharmaceuticals from a “hold” rating to a “buy” rating in a research report on Friday, April 13th. Finally, BTIG Research increased their price objective on Eiger Biopharmaceuticals from $23.00 to $39.00 and gave the stock a “buy” rating in a research report on Thursday, May 17th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Eiger Biopharmaceuticals has an average rating of “Buy” and an average target price of $28.50.
In related news, insider Joanne Quan sold 4,000 shares of the stock in a transaction on Monday, April 2nd. The stock was sold at an average price of $10.00, for a total value of $40,000.00. Following the completion of the sale, the insider now directly owns 4,000 shares in the company, valued at $40,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 7.90% of the company’s stock.
Eiger Biopharmaceuticals Company Profile
Eiger BioPharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of targeted therapies for rare diseases in the United States and internationally. The company's lead program is Lonafarnib, an orally bioavailable, small molecule, which is in Phase III clinical trial for treating hepatitis delta virus (HDV) infection.
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