Barclays PLC Acquires 425,206 Shares of 89bio, Inc. (NASDAQ:ETNB)

Barclays PLC increased its holdings in 89bio, Inc. (NASDAQ:ETNB - Free Report) by 198.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 639,974 shares of the company's stock after buying an additional 425,206 shares during the period. Barclays PLC owned 0.60% of 89bio worth $5,005,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in ETNB. Federated Hermes Inc. increased its stake in 89bio by 206.9% during the 4th quarter. Federated Hermes Inc. now owns 6,283 shares of the company's stock worth $49,000 after acquiring an additional 4,236 shares during the period. Kingswood Wealth Advisors LLC bought a new position in shares of 89bio in the fourth quarter worth $86,000. Victory Capital Management Inc. raised its stake in 89bio by 11.5% in the fourth quarter. Victory Capital Management Inc. now owns 13,969 shares of the company's stock valued at $109,000 after purchasing an additional 1,437 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in 89bio in the fourth quarter valued at about $114,000. Finally, New York State Common Retirement Fund lifted its position in 89bio by 24.3% during the fourth quarter. New York State Common Retirement Fund now owns 16,367 shares of the company's stock worth $128,000 after purchasing an additional 3,200 shares during the period.

89bio Stock Performance

ETNB stock traded up $0.38 during midday trading on Friday, reaching $8.51. 705,464 shares of the company's stock traded hands, compared to its average volume of 1,329,660. The firm has a market capitalization of $1.24 billion, a PE ratio of -2.92 and a beta of 1.25. The company has a 50-day moving average price of $7.39 and a two-hundred day moving average price of $8.17. 89bio, Inc. has a 52 week low of $4.16 and a 52 week high of $11.84. The company has a debt-to-equity ratio of 0.09, a quick ratio of 11.66 and a current ratio of 11.66.

89bio (NASDAQ:ETNB - Get Free Report) last released its earnings results 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 period in the prior year, the firm posted ($0.54) earnings per share. As a group, equities analysts anticipate that 89bio, Inc. will post -3.19 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on ETNB shares. UBS Group raised their target price on 89bio from $25.00 to $38.00 and gave the company a "buy" rating in a report on Friday, January 31st. HC Wainwright reissued a "buy" rating and set a $21.00 target price (down previously from $29.00) on shares of 89bio in a research note on Friday, February 28th. Citigroup began coverage on shares of 89bio in a research note on Thursday, March 13th. They issued a "buy" rating and a $25.00 price target on the stock. Wolfe Research initiated coverage on shares of 89bio in a research report on Tuesday, February 4th. They set an "outperform" rating for the company. Finally, The Goldman Sachs Group started coverage on shares of 89bio in a research report on Friday, March 14th. They issued a "neutral" rating and a $11.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $27.25.

Insider Activity

In related news, insider Quoc Le-Nguyen sold 15,329 shares of the business's stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $5.95, for a total transaction of $91,207.55. Following the transaction, the insider now owns 328,323 shares in the company, valued at $1,953,521.85. The trade was a 4.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.80% of the company's stock.

89bio Profile

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.