Alyeska Investment Group L.P. Has $7.24 Million Stock Position in 89bio, Inc. (NASDAQ:ETNB)

Alyeska Investment Group L.P. increased its position in 89bio, Inc. (NASDAQ:ETNB - Free Report) by 14.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 925,397 shares of the company's stock after purchasing an additional 116,833 shares during the quarter. Alyeska Investment Group L.P. owned approximately 0.87% of 89bio worth $7,237,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of ETNB. Avoro Capital Advisors LLC acquired a new stake in shares of 89bio in the fourth quarter valued at approximately $32,062,000. Vanguard Group Inc. raised its stake in 89bio by 13.7% in the 4th quarter. Vanguard Group Inc. now owns 5,692,331 shares of the company's stock valued at $44,514,000 after acquiring an additional 686,054 shares during the period. Rock Springs Capital Management LP acquired a new stake in 89bio during the 4th quarter valued at $4,322,000. ADAR1 Capital Management LLC boosted its position in 89bio by 7,752.7% during the fourth quarter. ADAR1 Capital Management LLC now owns 515,138 shares of the company's stock worth $4,028,000 after purchasing an additional 508,578 shares during the period. Finally, Alliancebernstein L.P. increased its holdings in shares of 89bio by 77.5% in the fourth quarter. Alliancebernstein L.P. now owns 1,042,136 shares of the company's stock valued at $8,150,000 after purchasing an additional 455,074 shares during the last quarter.

89bio Price Performance

NASDAQ:ETNB traded down $0.09 during mid-day trading on Friday, reaching $7.70. The stock had a trading volume of 1,274,337 shares, compared to its average volume of 1,361,796. 89bio, Inc. has a 12 month low of $4.16 and a 12 month high of $11.84. The stock has a market capitalization of $1.12 billion, a PE ratio of -2.65 and a beta of 1.23. The company has a debt-to-equity ratio of 0.09, a current ratio of 11.66 and a quick ratio of 11.66. The stock has a 50-day simple moving average of $7.26 and a two-hundred day simple moving average of $8.16.

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

Insider Activity at 89bio

In other 89bio news, insider Quoc Le-Nguyen sold 15,329 shares of the business's stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $5.95, for a total transaction of $91,207.55. Following the sale, the insider now owns 328,323 shares of the company's stock, valued at approximately $1,953,521.85. The trade was a 4.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ETNB. Cantor Fitzgerald raised shares of 89bio to a "strong-buy" rating in a report on Wednesday, April 30th. HC Wainwright reissued 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. Wolfe Research assumed coverage on 89bio in a report on Tuesday, February 4th. They issued an "outperform" rating on the stock. Citigroup assumed coverage on 89bio in a report on Thursday, March 13th. They set a "buy" rating and a $25.00 target price for the company. Finally, 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 note on Friday, January 31st. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $27.25.

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.