Susquehanna Fundamental Investments LLC Invests $477,000 in 89bio, Inc. (NASDAQ:ETNB)

Susquehanna Fundamental Investments LLC bought a new position in 89bio, Inc. (NASDAQ:ETNB - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 60,992 shares of the company's stock, valued at approximately $477,000. Susquehanna Fundamental Investments LLC owned 0.06% of 89bio as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of 89bio by 13.7% in the 4th quarter. Vanguard Group Inc. now owns 5,692,331 shares of the company's stock worth $44,514,000 after purchasing an additional 686,054 shares in the last quarter. Avoro Capital Advisors LLC bought a new position in 89bio in the 4th quarter valued at approximately $32,062,000. Geode Capital Management LLC raised its stake in shares of 89bio by 6.4% in the fourth quarter. Geode Capital Management LLC now owns 2,207,608 shares of the company's stock worth $17,267,000 after purchasing an additional 132,638 shares during the last quarter. Candriam S.C.A. raised its stake in shares of 89bio by 24.5% in the fourth quarter. Candriam S.C.A. now owns 1,055,661 shares of the company's stock worth $8,255,000 after purchasing an additional 207,582 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its position in shares of 89bio by 77.5% during the fourth quarter. Alliancebernstein L.P. now owns 1,042,136 shares of the company's stock valued at $8,150,000 after buying an additional 455,074 shares during the last quarter.

89bio Trading Down 1.5 %

Shares of NASDAQ:ETNB traded down $0.11 during trading on Wednesday, reaching $7.64. The company's stock had a trading volume of 1,295,362 shares, compared to its average volume of 1,351,170. The stock has a market capitalization of $1.11 billion, a PE ratio of -2.62 and a beta of 1.23. 89bio, Inc. has a 12 month low of $4.16 and a 12 month high of $11.84. The firm's 50 day simple moving average is $7.33 and its two-hundred day simple moving average is $8.17. The company has a current ratio of 11.66, a quick ratio of 11.66 and a debt-to-equity ratio of 0.09.

89bio (NASDAQ:ETNB - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported ($0.49) earnings per share for the quarter, beating analysts' consensus estimates of ($0.50) by $0.01. During the same quarter in the prior year, the firm posted ($0.54) EPS. On average, research analysts predict that 89bio, Inc. will post -3.19 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ETNB has been the topic of a number of research analyst reports. The Goldman Sachs Group started coverage on shares of 89bio in a research report on Friday, March 14th. They set a "neutral" rating and a $11.00 price objective on the stock. UBS Group upped their price target on shares of 89bio from $25.00 to $38.00 and gave the company a "buy" rating in a research report on Friday, January 31st. HC Wainwright restated a "buy" rating and set a $21.00 target price (down from $29.00) on shares of 89bio in a research report on Friday, February 28th. Cantor Fitzgerald upgraded shares of 89bio to a "strong-buy" rating in a research note on Wednesday, April 30th. Finally, Citigroup initiated coverage on 89bio in a research report on Thursday, March 13th. They set a "buy" rating and a $25.00 target price on the stock. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $27.25.

Insider Transactions at 89bio

In other news, insider Quoc Le-Nguyen sold 15,329 shares of the firm's stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $5.95, for a total transaction of $91,207.55. Following the transaction, the insider now owns 328,323 shares in the company, valued at approximately $1,953,521.85. This trade represents a 4.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 2.80% of the company's stock.

89bio Company Profile

89bio, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of therapies for the treatment of liver and cardio-metabolic diseases. Its lead product candidate is pegozafermin, a glycoPEGylated analog of fibroblast growth factor 21 for the treatment of nonalcoholic steatohepatitis; and for the treatment of severe hypertriglyceridemia.