Millennium Management LLC purchased a new position in shares of Eiger Biopharmaceuticals Inc (NASDAQ:EIGR) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 71,371 shares of the biotechnology company’s stock, valued at approximately $871,000. Millennium Management LLC owned about 0.68% of Eiger Biopharmaceuticals at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Ardsley Advisory Partners acquired a new position in Eiger Biopharmaceuticals during the second quarter worth $305,000. Renaissance Technologies LLC raised its position in shares of Eiger Biopharmaceuticals by 40.4% in the second quarter. Renaissance Technologies LLC now owns 230,229 shares of the biotechnology company’s stock valued at $2,809,000 after purchasing an additional 66,200 shares during the period. Northern Trust Corp raised its position in shares of Eiger Biopharmaceuticals by 169.7% in the first quarter. Northern Trust Corp now owns 29,376 shares of the biotechnology company’s stock valued at $289,000 after purchasing an additional 18,483 shares during the period. Acadian Asset Management LLC raised its position in shares of Eiger Biopharmaceuticals by 171.2% in the second quarter. Acadian Asset Management LLC now owns 56,266 shares of the biotechnology company’s stock valued at $687,000 after purchasing an additional 35,518 shares during the period. Finally, Jennison Associates LLC raised its position in shares of Eiger Biopharmaceuticals by 93.3% in the second quarter. Jennison Associates LLC now owns 1,256,501 shares of the biotechnology company’s stock valued at $15,329,000 after purchasing an additional 606,361 shares during the period. Hedge funds and other institutional investors own 68.69% of the company’s stock.
In other news, major shareholder Interwest Partners X. Lp sold 237,265 shares of Eiger Biopharmaceuticals stock in a transaction dated Thursday, October 18th. The stock was sold at an average price of $12.06, for a total transaction of $2,861,415.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 7.90% of the stock is owned by insiders.
Shares of NASDAQ:EIGR opened at $11.60 on Wednesday. The stock has a market capitalization of $173.92 million, a price-to-earnings ratio of -2.39 and a beta of 1.58. The company has a debt-to-equity ratio of 0.35, a quick ratio of 8.49 and a current ratio of 8.49. Eiger Biopharmaceuticals Inc has a 52-week low of $7.46 and a 52-week high of $18.00.
Eiger Biopharmaceuticals (NASDAQ:EIGR) last announced its earnings results on Friday, August 10th. The biotechnology company reported ($0.82) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.82). As a group, equities analysts anticipate that Eiger Biopharmaceuticals Inc will post -2.98 EPS for the current year.
EIGR has been the topic of a number of recent research reports. Wedbush set a $55.00 price target on shares of Eiger Biopharmaceuticals and gave the stock a “buy” rating in a research report on Friday, October 19th. Oppenheimer set a $26.00 price objective on shares of Eiger Biopharmaceuticals and gave the company a “buy” rating in a report on Thursday, October 18th. ValuEngine lowered shares of Eiger Biopharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 8th. Zacks Investment Research raised shares of Eiger Biopharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $12.00 price target for the company in a research report on Monday, October 15th. Finally, LADENBURG THALM/SH SH set a $28.00 price objective on shares of Eiger Biopharmaceuticals and gave the stock a “buy” rating in a report on Wednesday, October 17th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $29.71.
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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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