Shares of 89bio, Inc. (NASDAQ:ETNB - Get Free Report) were up 4.5% during trading on Monday . The company traded as high as $7.33 and last traded at $7.25. Approximately 779,173 shares changed hands during mid-day trading, a decline of 41% from the average daily volume of 1,316,186 shares. The stock had previously closed at $6.94.
Wall Street Analyst Weigh In
ETNB has been the subject of a number of recent research reports. Wolfe Research initiated coverage on 89bio in a research note on Tuesday, February 4th. They issued an "outperform" rating for the company. HC Wainwright restated a "buy" rating and issued a $21.00 price target (down previously from $29.00) on shares of 89bio in a research note on Friday, February 28th. The Goldman Sachs Group initiated coverage on shares of 89bio in a research note on Friday, March 14th. They set a "neutral" rating and a $11.00 price objective on the stock. Cantor Fitzgerald upgraded shares of 89bio to a "strong-buy" rating in a research note on Wednesday. Finally, Citigroup initiated coverage on 89bio in a research note on Thursday, March 13th. They issued a "buy" rating and a $25.00 price target for the company. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $27.25.
Read Our Latest Report on ETNB
89bio Price Performance
The firm has a market capitalization of $1.22 billion, a price-to-earnings ratio of -2.88 and a beta of 1.25. The company has a current ratio of 11.66, a quick ratio of 11.66 and a debt-to-equity ratio of 0.09. The business has a 50-day moving average price of $7.43 and a two-hundred day moving average price of $8.17.
89bio (NASDAQ:ETNB - Get Free Report) last issued its earnings results on Thursday, March 6th. The company reported ($1.02) earnings per share for the quarter, missing the consensus estimate of ($0.60) by ($0.42). As a group, research analysts forecast that 89bio, Inc. will post -3.19 EPS for the current year.
Insider Activity at 89bio
In related news, insider Quoc Le-Nguyen sold 15,329 shares of the firm'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 value of $91,207.55. Following the sale, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.80% of the stock is currently owned by insiders.
Institutional Investors Weigh In On 89bio
Hedge funds and other institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. boosted its stake in 89bio by 77.4% during the third quarter. JPMorgan Chase & Co. now owns 99,467 shares of the company's stock valued at $736,000 after buying an additional 43,384 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in 89bio in the fourth quarter worth approximately $1,897,000. KLP Kapitalforvaltning AS bought a new position in shares of 89bio in the fourth quarter valued at $114,000. Barclays PLC lifted its position in shares of 89bio by 228.9% during the 3rd quarter. Barclays PLC now owns 214,768 shares of the company's stock valued at $1,590,000 after acquiring an additional 149,479 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in shares of 89bio by 17.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 26,185 shares of the company's stock worth $205,000 after acquiring an additional 3,820 shares in the last quarter.
89bio Company Profile
(
Get 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.
Featured Articles
Before you consider 89bio, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and 89bio wasn't on the list.
While 89bio currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of ten stocks that are set to soar in Spring 2025, despite the threat of tariffs and other economic uncertainty. These ten stocks are incredibly resilient and are likely to thrive in any economic environment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
