Tocqueville Asset Management L.P. increased its position in shares of Eiger Biopharmaceuticals Inc (NASDAQ:EIGR) by 55.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 26,350 shares of the biotechnology company’s stock after buying an additional 9,450 shares during the period. Tocqueville Asset Management L.P.’s holdings in Eiger Biopharmaceuticals were worth $268,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. raised its stake in Eiger Biopharmaceuticals by 2.4% during the third quarter. BlackRock Inc. now owns 224,650 shares of the biotechnology company’s stock worth $2,695,000 after buying an additional 5,372 shares during the last quarter. Dimensional Fund Advisors LP bought a new position in Eiger Biopharmaceuticals during the third quarter worth $194,000. Acadian Asset Management LLC raised its stake in Eiger Biopharmaceuticals by 55.4% during the third quarter. Acadian Asset Management LLC now owns 87,427 shares of the biotechnology company’s stock worth $1,049,000 after buying an additional 31,161 shares during the last quarter. Jennison Associates LLC raised its stake in Eiger Biopharmaceuticals by 0.6% during the third quarter. Jennison Associates LLC now owns 1,263,978 shares of the biotechnology company’s stock worth $15,168,000 after buying an additional 7,477 shares during the last quarter. Finally, Renaissance Technologies LLC raised its stake in Eiger Biopharmaceuticals by 21.1% during the third quarter. Renaissance Technologies LLC now owns 278,813 shares of the biotechnology company’s stock worth $3,346,000 after buying an additional 48,584 shares during the last quarter. 46.04% of the stock is owned by institutional investors and hedge funds.
Get Eiger Biopharmaceuticals alerts:Eiger Biopharmaceuticals stock traded down $0.05 during midday trading on Tuesday, hitting $13.78. 50 shares of the stock were exchanged, compared to its average volume of 111,370. Eiger Biopharmaceuticals Inc has a 52-week low of $8.20 and a 52-week high of $18.00. The stock has a market cap of $265.07 million, a PE ratio of -2.86 and a beta of 1.67. The company has a debt-to-equity ratio of 0.56, a quick ratio of 4.59 and a current ratio of 4.59.
Several equities research analysts have weighed in on EIGR shares. BidaskClub downgraded shares of Eiger Biopharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 14th. Zacks Investment Research raised shares of Eiger Biopharmaceuticals from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a research note on Tuesday, February 5th. ValuEngine upgraded shares of Eiger Biopharmaceuticals from a “hold” rating to a “buy” rating in a report on Tuesday, January 15th. BTIG Research lifted their price objective on shares of Eiger Biopharmaceuticals from $44.00 to $47.00 and gave the company a “buy” rating in a report on Wednesday, December 19th. Finally, Wedbush reiterated a “buy” rating and set a $43.00 price objective on shares of Eiger Biopharmaceuticals in a report on Tuesday, February 19th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $31.88.
In related news, Director Thomas John Dietz bought 5,000 shares of the company’s stock in a transaction on Thursday, December 6th. The shares were purchased at an average cost of $11.26 per share, for a total transaction of $56,300.00. Following the completion of the purchase, the director now directly owns 5,000 shares in the company, valued at $56,300. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Over the last quarter, insiders acquired 10,227 shares of company stock worth $109,408. Corporate insiders own 7.90% of the company’s stock.
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Eiger Biopharmaceuticals 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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