Ally Bridge Group NY LLC acquired a new stake in shares of 89bio, Inc. (NASDAQ:ETNB - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 317,833 shares of the company's stock, valued at approximately $2,485,000. 89bio accounts for 2.1% of Ally Bridge Group NY LLC's portfolio, making the stock its 23rd largest holding. Ally Bridge Group NY LLC owned approximately 0.30% of 89bio at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Federated Hermes Inc. lifted its stake in shares of 89bio by 206.9% in the 4th quarter. Federated Hermes Inc. now owns 6,283 shares of the company's stock valued at $49,000 after purchasing an additional 4,236 shares during the period. Quarry LP purchased a new position in 89bio during the 4th quarter valued at about $55,000. Kingswood Wealth Advisors LLC purchased a new stake in 89bio during the 4th quarter worth approximately $86,000. Hsbc Holdings PLC purchased a new position in 89bio in the fourth quarter valued at $87,000. Finally, Tower Research Capital LLC TRC increased its stake in shares of 89bio by 109.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 11,725 shares of the company's stock worth $92,000 after buying an additional 6,132 shares during the period.
89bio Trading Down 1.0 %
NASDAQ:ETNB traded down $0.08 on Wednesday, reaching $7.67. The stock had a trading volume of 501,069 shares, compared to its average volume of 1,348,103. The firm's fifty day moving average is $7.33 and its two-hundred day moving average is $8.17. 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 company has a market cap of $1.12 billion, a price-to-earnings ratio of -2.65 and a beta of 1.23. 89bio, Inc. has a 12-month low of $4.16 and a 12-month high of $11.84.
89bio (NASDAQ:ETNB - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported ($0.49) EPS for the quarter, beating analysts' consensus estimates of ($0.50) by $0.01. During the same quarter last year, the company posted ($0.54) EPS. Equities analysts expect that 89bio, Inc. will post -3.19 EPS for the current fiscal year.
Insider Buying and Selling at 89bio
In other news, insider Quoc Le-Nguyen sold 15,329 shares of 89bio stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $5.95, for a total value of $91,207.55. Following the transaction, the insider now directly owns 328,323 shares of the company's stock, valued at $1,953,521.85. The trade was a 4.46 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 2.80% of the stock is owned by company insiders.
Wall Street Analysts Forecast Growth
A number of equities analysts recently commented on the stock. Weiss Ratings reiterated a "sell (d-)" rating on shares of 89bio in a research note on Thursday, April 24th. Cantor Fitzgerald upgraded shares of 89bio to a "strong-buy" rating in a research note on Wednesday, April 30th. HC Wainwright reissued a "buy" rating and issued a $21.00 price objective (down from $29.00) on shares of 89bio in a research note on Friday, February 28th. The Goldman Sachs Group started coverage on 89bio in a report on Friday, March 14th. They issued a "neutral" rating and a $11.00 price target for the company. Finally, Citigroup initiated coverage on shares of 89bio in a report on Thursday, March 13th. They issued a "buy" rating and a $25.00 target price for the company. Two research analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $27.25.
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About 89bio
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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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