Susquehanna Fundamental Investments LLC Takes Position in 89bio, Inc. (NASDAQ:ETNB)

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

A number of other institutional investors have also added to or reduced their stakes in the business. Federated Hermes Inc. increased its holdings in shares of 89bio by 206.9% during the fourth quarter. Federated Hermes Inc. now owns 6,283 shares of the company's stock valued at $49,000 after acquiring an additional 4,236 shares in the last quarter. Kingswood Wealth Advisors LLC purchased a new position in shares of 89bio during the 4th quarter valued at approximately $86,000. Hsbc Holdings PLC purchased a new stake in shares of 89bio during the fourth quarter worth about $87,000. Tower Research Capital LLC TRC lifted its position in shares of 89bio by 109.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 11,725 shares of the company's stock valued at $92,000 after acquiring an additional 6,132 shares in the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of 89bio by 11.5% in the fourth quarter. Victory Capital Management Inc. now owns 13,969 shares of the company's stock valued at $109,000 after buying an additional 1,437 shares during the last quarter.

Insider Activity

In other news, insider Quoc Le-Nguyen sold 15,329 shares of the business's stock in a transaction that occurred 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 completion of the sale, the insider now owns 328,323 shares in the company, valued at $1,953,521.85. The trade was a 4.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.80% of the stock is currently owned by insiders.

89bio Stock Down 1.4 %

89bio stock traded down $0.11 during midday trading on Friday, reaching $7.68. The stock had a trading volume of 510,492 shares, compared to its average volume of 2,246,445. The stock has a market capitalization of $1.12 billion, a P/E ratio of -2.64 and a beta of 1.23. The company has a debt-to-equity ratio of 0.09, a quick ratio of 11.66 and a current ratio of 11.66. 89bio, Inc. has a 1-year low of $4.16 and a 1-year high of $11.84. The firm's fifty day simple moving average is $7.28 and its 200-day simple moving average is $8.16.

89bio (NASDAQ:ETNB - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported ($0.49) earnings per share for the quarter, topping the consensus estimate of ($0.50) by $0.01. During the same period last year, the firm earned ($0.54) EPS. As a group, analysts expect that 89bio, Inc. will post -3.19 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ETNB has been the subject of a number of research analyst reports. HC Wainwright reiterated a "buy" rating and set a $21.00 price target (down from $29.00) on shares of 89bio in a report on Friday, February 28th. UBS Group boosted their target price on 89bio from $25.00 to $38.00 and gave the company a "buy" rating in a report on Friday, January 31st. Weiss Ratings reiterated a "sell (d-)" rating on shares of 89bio in a report on Thursday, April 24th. Wolfe Research assumed coverage on 89bio in a research report on Tuesday, February 4th. They set an "outperform" rating for the company. Finally, The Goldman Sachs Group assumed coverage on shares of 89bio in a report on Friday, March 14th. They set a "neutral" rating and a $11.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, 89bio presently has a consensus rating of "Buy" and an average target price of $27.25.

89bio 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.