ADAR1 Capital Management LLC boosted its position in shares of 89bio, Inc. (NASDAQ:ETNB - Free Report) by 7,752.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 515,138 shares of the company's stock after acquiring an additional 508,578 shares during the quarter. ADAR1 Capital Management LLC owned 0.49% of 89bio worth $4,028,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Intech Investment Management LLC bought a new position in shares of 89bio during the 3rd quarter worth approximately $160,000. Charles Schwab Investment Management Inc. lifted its holdings in 89bio by 8.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 721,050 shares of the company's stock valued at $5,336,000 after purchasing an additional 53,932 shares during the last quarter. FMR LLC boosted its position in 89bio by 2,153.2% during the third quarter. FMR LLC now owns 73,386 shares of the company's stock worth $543,000 after purchasing an additional 70,129 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of 89bio by 1.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 140,998 shares of the company's stock valued at $1,043,000 after purchasing an additional 1,624 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its position in shares of 89bio by 186.6% in the third quarter. Jacobs Levy Equity Management Inc. now owns 130,894 shares of the company's stock valued at $969,000 after purchasing an additional 85,230 shares during the period.
Wall Street Analyst Weigh In
A number of brokerages recently commented on ETNB. HC Wainwright reiterated 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. UBS Group increased their target price on 89bio from $25.00 to $38.00 and gave the stock a "buy" rating in a research note on Friday, January 31st. Wolfe Research initiated coverage on 89bio in a research note on Tuesday, February 4th. They issued an "outperform" rating for the company. Cantor Fitzgerald reiterated an "overweight" rating and set a $29.00 price objective on shares of 89bio in a research report on Thursday, January 2nd. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of 89bio in a research report on Tuesday. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $27.56.
Check Out Our Latest Research Report on ETNB
89bio Price Performance
Shares of NASDAQ:ETNB traded up $0.54 during midday trading on Friday, hitting $5.53. The stock had a trading volume of 1,824,337 shares, compared to its average volume of 1,297,962. The company's 50-day moving average price is $8.58 and its 200-day moving average price is $8.24. 89bio, Inc. has a fifty-two week low of $4.16 and a fifty-two week high of $11.84. The company has a quick ratio of 11.66, a current ratio of 11.66 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $807.29 million, a P/E ratio of -1.90 and a beta of 1.25.
89bio (NASDAQ:ETNB - Get Free Report) last announced its quarterly earnings data on Thursday, March 6th. The company reported ($1.02) EPS for the quarter, missing the consensus estimate of ($0.60) by ($0.42). As a group, equities research analysts predict that 89bio, Inc. will post -3.19 EPS for the current fiscal year.
Insider Buying and Selling
In other 89bio news, Director Charles Mcwherter bought 5,000 shares of the stock in a transaction on Tuesday, January 21st. The stock was purchased at an average price of $6.55 per share, with a total value of $32,750.00. Following the completion of the purchase, the director now owns 15,000 shares in the company, valued at $98,250. The trade was a 50.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Quoc Le-Nguyen sold 10,963 shares of the firm's stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $6.49, for a total transaction of $71,149.87. Following the completion of the sale, the insider now owns 271,833 shares in the company, valued at approximately $1,764,196.17. The trade was a 3.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.80% of the stock is owned by corporate insiders.
About 89bio
(
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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