89bio price target lowered by $8 at H.C. Wainwright, here's why

Group 1: IPOs and Secondary Offerings - Basel Medical (BMGL) is conducting an IPO priced at $4.00 for 2.205 million shares [1] - Intelligent Living Application Group (ILAG) is executing a spot secondary offering priced at $0.58 for 1.035 million shares [1] - SiriusPoint (SPNT) is also conducting a spot secondary offering priced at $14.00 for 4.107 million shares [1] - Luda Technology (LUD) is launching an IPO priced at $4.00 for 2.5 million shares [3] - LZ Technology (LZMH) is conducting an IPO priced at $4.00 for 1.8 million shares [3] - Webus International (WETO) is executing an IPO priced at $4.00 for 2 million shares [5] Group 2: Large Secondary Offerings - Keurig Dr Pepper (KDP) is conducting a spot secondary offering priced at $32.80 for 73 million shares [5] - CCC Intelligent Solutions (CCCS) is executing a spot secondary offering priced at $10.38 for 42 million shares [6] - Life Time Group (LTH) is also conducting a spot secondary offering priced at $30.40 for 23 million shares [7]