351,331 Shares in 89bio, Inc. (NASDAQ:ETNB) Bought by BNP Paribas Financial Markets

BNP Paribas Financial Markets bought a new position in shares of 89bio, Inc. (NASDAQ:ETNB - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 351,331 shares of the company's stock, valued at approximately $2,747,000. BNP Paribas Financial Markets owned approximately 0.33% of 89bio at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in ETNB. Federated Hermes Inc. increased its holdings 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. Quarry LP bought a new stake in 89bio during the fourth quarter valued at $55,000. Kingswood Wealth Advisors LLC purchased a new position in 89bio during the fourth quarter worth about $86,000. Hsbc Holdings PLC bought a new position in 89bio in the 4th quarter worth about $87,000. Finally, Tower Research Capital LLC TRC raised its holdings in shares of 89bio by 109.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 11,725 shares of the company's stock valued at $92,000 after acquiring an additional 6,132 shares in the last quarter.

89bio Stock Performance

Shares of NASDAQ ETNB traded up $0.32 during trading on Wednesday, hitting $9.35. The company had a trading volume of 456,363 shares, compared to its average volume of 1,401,019. The firm has a market capitalization of $1.36 billion, a P/E ratio of -3.21 and a beta of 1.23. The company has a debt-to-equity ratio of 0.09, a quick ratio of 11.66 and a current ratio of 11.66. The stock has a 50 day simple moving average of $7.27 and a 200 day simple moving average of $8.16. 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 released its quarterly earnings results on Thursday, May 1st. The company reported ($0.49) EPS for the quarter, topping the consensus estimate of ($0.50) by $0.01. During the same period in the previous year, the business posted ($0.54) earnings per share. As a group, analysts anticipate that 89bio, Inc. will post -3.19 earnings per share for the current year.

Wall Street Analyst Weigh In

ETNB has been the topic of several research analyst reports. Citigroup assumed coverage on shares of 89bio in a research report on Thursday, March 13th. They issued a "buy" rating and a $25.00 price objective on the stock. UBS Group raised their price objective on shares of 89bio from $25.00 to $38.00 and gave the company a "buy" rating in a research report on Friday, January 31st. The Goldman Sachs Group began coverage on shares of 89bio in a research report on Friday, March 14th. They issued a "neutral" rating and a $11.00 target price for the company. Weiss Ratings reissued a "sell (d-)" rating on shares of 89bio in a research note on Saturday, May 10th. Finally, Wolfe Research assumed coverage on 89bio in a report on Tuesday, February 4th. They issued an "outperform" rating for the company. Two analysts have rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $26.43.

Insider Transactions at 89bio

In related news, insider Quoc Le-Nguyen sold 15,329 shares of the 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 transaction, the insider now owns 328,323 shares of the company's stock, valued at $1,953,521.85. This represents a 4.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.60% 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.