89BIO (NASDAQ:ETNB - Get Free Report) saw unusually-strong trading volume on Friday . Approximately 7,748,025 shares traded hands during mid-day trading, an increase of 212% from the previous session's volume of 2,487,302 shares.The stock last traded at $14.95 and had previously closed at $14.96.
Analyst Upgrades and Downgrades
A number of equities research analysts have commented on ETNB shares. Bank of America reduced their target price on 89BIO from $30.00 to $29.00 and set a "buy" rating on the stock in a research report on Monday, August 25th. Royal Bank Of Canada dropped their price objective on 89BIO from $12.00 to $11.00 and set a "sector perform" rating for the company in a research note on Friday, August 8th. Raymond James Financial cut 89BIO from a "strong-buy" rating to a "market perform" rating in a research note on Friday. Wolfe Research cut 89BIO from an "outperform" rating to a "peer perform" rating in a research note on Friday. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of 89BIO in a research note on Saturday, September 13th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $25.81.
Get Our Latest Report on 89BIO
89BIO Price Performance
The company has a current ratio of 15.19, a quick ratio of 15.19 and a debt-to-equity ratio of 0.07. The company has a 50 day moving average of $9.51 and a 200 day moving average of $8.80.
89BIO (NASDAQ:ETNB - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported ($0.71) EPS for the quarter, missing the consensus estimate of ($0.49) by ($0.22). During the same period in the previous year, the business earned ($0.48) earnings per share. As a group, research analysts forecast that 89BIO will post -3.19 EPS for the current fiscal year.
Insider Transactions at 89BIO
In other 89BIO news, insider Quoc Le-Nguyen sold 10,461 shares of 89BIO stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $11.02, for a total transaction of $115,280.22. Following the completion of the sale, the insider directly owned 309,364 shares of the company's stock, valued at $3,409,191.28. The trade was a 3.27% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.80% of the stock is owned by company insiders.
Institutional Trading of 89BIO
Institutional investors have recently bought and sold shares of the business. Woodline Partners LP lifted its holdings in 89BIO by 77.5% during the 1st quarter. Woodline Partners LP now owns 700,754 shares of the company's stock worth $5,094,000 after buying an additional 305,928 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in 89BIO during the 1st quarter worth about $719,000. Goldman Sachs Group Inc. lifted its holdings in shares of 89BIO by 23.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 995,449 shares of the company's stock valued at $7,237,000 after purchasing an additional 188,367 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of 89BIO by 10.1% in the 4th quarter. Bank of America Corp DE now owns 358,574 shares of the company's stock valued at $2,804,000 after purchasing an additional 32,867 shares during the last quarter. Finally, ProShare Advisors LLC lifted its holdings in shares of 89BIO by 32.0% in the 4th quarter. ProShare Advisors LLC now owns 29,149 shares of the company's stock valued at $228,000 after purchasing an additional 7,070 shares during the last quarter.
About 89BIO
(
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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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