Eiger BioPharmaceuticals (NASDAQ:EIGR) Share Price Crosses Below 200 Day Moving Average of $0.71

Eiger BioPharmaceuticals, Inc. (NASDAQ:EIGR)’s share price passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $0.71 and traded as low as $0.33. Eiger BioPharmaceuticals shares last traded at $0.35, with a volume of 136,118 shares changing hands.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Citigroup lowered their target price on shares of Eiger BioPharmaceuticals from $4.00 to $3.00 and set a “buy” rating on the stock in a research note on Tuesday, August 29th. StockNews.com started coverage on Eiger BioPharmaceuticals in a report on Thursday. They issued a “sell” rating on the stock.

Eiger BioPharmaceuticals Stock Performance

The firm’s 50 day simple moving average is $0.34 and its 200-day simple moving average is $0.70. The company has a debt-to-equity ratio of 2.64, a quick ratio of 3.24 and a current ratio of 3.31.

Eiger BioPharmaceuticals (NASDAQ:EIGR) last posted its quarterly earnings results on Monday, August 14th. The biotechnology company reported ($0.47) earnings per share for the quarter. Eiger BioPharmaceuticals had a negative return on equity of 332.49% and a negative net margin of 590.80%. The company had revenue of $4.64 million during the quarter. On average, sell-side analysts forecast that Eiger BioPharmaceuticals, Inc. will post -1.64 earnings per share for the current fiscal year.

Insider Transactions at Eiger BioPharmaceuticals

In related news, major shareholder Richard A. Kayne purchased 154,841 shares of the company’s stock in a transaction dated Tuesday, October 31st. The shares were acquired at an average cost of $0.24 per share, with a total value of $37,161.84. Following the completion of the purchase, the insider now owns 5,251,827 shares of the company’s stock, valued at approximately $1,260,438.48. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.54% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Eiger BioPharmaceuticals

Large investors have recently bought and sold shares of the business. MetLife Investment Management LLC bought a new stake in Eiger BioPharmaceuticals during the first quarter valued at about $165,000. Dimensional Fund Advisors LP increased its holdings in shares of Eiger BioPharmaceuticals by 35.8% during the first quarter. Dimensional Fund Advisors LP now owns 387,791 shares of the biotechnology company’s stock worth $3,221,000 after buying an additional 102,153 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Eiger BioPharmaceuticals by 2.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 88,711 shares of the biotechnology company’s stock worth $737,000 after buying an additional 1,953 shares in the last quarter. State Street Corp grew its stake in shares of Eiger BioPharmaceuticals by 1.5% during the first quarter. State Street Corp now owns 554,315 shares of the biotechnology company’s stock valued at $4,601,000 after purchasing an additional 8,160 shares during the last quarter. Finally, Virtu Financial LLC grew its stake in shares of Eiger BioPharmaceuticals by 139.4% during the first quarter. Virtu Financial LLC now owns 54,493 shares of the biotechnology company’s stock valued at $452,000 after purchasing an additional 31,734 shares during the last quarter. 62.46% of the stock is currently owned by institutional investors.

Eiger BioPharmaceuticals Company Profile

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.