BVF Inc. IL lessened its position in 89bio, Inc. (NASDAQ:ETNB - Free Report) by 36.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,333,885 shares of the company's stock after selling 2,477,746 shares during the quarter. 89bio accounts for approximately 1.1% of BVF Inc. IL's portfolio, making the stock its 21st largest holding. BVF Inc. IL owned about 4.08% of 89bio worth $33,891,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in ETNB. Avoro Capital Advisors LLC purchased a new position in 89bio in the 4th quarter worth $32,062,000. Balyasny Asset Management L.P. bought a new position in shares of 89bio during the fourth quarter valued at about $7,972,000. Vanguard Group Inc. increased its holdings in shares of 89bio by 13.7% in the fourth quarter. Vanguard Group Inc. now owns 5,692,331 shares of the company's stock worth $44,514,000 after buying an additional 686,054 shares during the period. Rock Springs Capital Management LP bought a new stake in shares of 89bio in the 4th quarter valued at about $4,322,000. Finally, ADAR1 Capital Management LLC boosted its holdings in 89bio by 7,752.7% during the 4th quarter. ADAR1 Capital Management LLC now owns 515,138 shares of the company's stock valued at $4,028,000 after acquiring an additional 508,578 shares during the period.
Insider Buying and Selling at 89bio
In related news, insider Quoc Le-Nguyen sold 15,329 shares of the stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $5.95, for a total value of $91,207.55. Following the completion of the transaction, the insider now directly owns 328,323 shares in the company, valued at $1,953,521.85. This trade represents a 4.46 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.80% of the company's stock.
Analysts Set New Price Targets
Several brokerages have weighed in on ETNB. Wolfe Research began coverage on 89bio in a research report on Tuesday, February 4th. They issued an "outperform" rating for the company. Cantor Fitzgerald upgraded shares of 89bio to a "strong-buy" rating in a report on Wednesday, April 30th. The Goldman Sachs Group initiated coverage on shares of 89bio in a research report on Friday, March 14th. They set a "neutral" rating and a $11.00 price target for the company. HC Wainwright reaffirmed a "buy" rating and set a $21.00 price objective (down from $29.00) on shares of 89bio in a research note on Friday, February 28th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of 89bio in a report on Thursday, April 24th. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $27.25.
Check Out Our Latest Stock Report on 89bio
89bio Trading Down 1.5 %
ETNB stock traded down $0.11 during trading on Wednesday, reaching $7.64. The company had a trading volume of 1,295,362 shares, compared to its average volume of 1,354,484. The company has a debt-to-equity ratio of 0.09, a current ratio of 11.66 and a quick ratio of 11.66. 89bio, Inc. has a 52 week low of $4.16 and a 52 week high of $11.84. The business has a 50 day moving average of $7.33 and a 200 day moving average of $8.17. The company has a market cap of $1.11 billion, a P/E ratio of -2.62 and a beta of 1.23.
89bio (NASDAQ:ETNB - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported ($0.49) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.50) by $0.01. During the same period in the prior year, the business posted ($0.54) earnings per share. As a group, sell-side analysts forecast that 89bio, Inc. will post -3.19 earnings per share for the current fiscal year.
89bio Company Profile
(
Free Report)
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.
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