89bio, Inc. (NASDAQ:ETNB - Free Report) - Equities researchers at Cantor Fitzgerald issued their FY2026 earnings estimates for 89bio in a research note issued to investors on Monday, June 9th. Cantor Fitzgerald analyst S. Seedhouse expects that the company will earn ($2.87) per share for the year. Cantor Fitzgerald currently has a "Strong-Buy" rating on the stock. The consensus estimate for 89bio's current full-year earnings is ($3.19) per share.
Several other brokerages have also issued reports on ETNB. The Goldman Sachs Group initiated coverage on 89bio in a research note on Friday, March 14th. They set a "neutral" rating and a $11.00 price target for the company. Citigroup began coverage on 89bio in a research report on Thursday, March 13th. They issued a "buy" rating and a $25.00 target price for the company. HC Wainwright reaffirmed a "buy" rating and issued a $21.00 target price (down previously from $29.00) on shares of 89bio in a research note on Friday, February 28th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of 89bio in a research report on Wednesday. Two research analysts have rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $26.43.
View Our Latest Research Report on ETNB
89bio Price Performance
Shares of NASDAQ ETNB traded down $0.42 during mid-day trading on Wednesday, reaching $9.62. 4,548,977 shares of the company were exchanged, compared to its average volume of 1,485,328. 89bio has a 52 week low of $4.16 and a 52 week high of $11.84. The company's 50 day moving average price is $7.95 and its 200 day moving average price is $8.26. The stock has a market capitalization of $1.40 billion, a PE ratio of -3.31 and a beta of 1.30. The company has a quick ratio of 11.66, a current ratio of 11.66 and a debt-to-equity ratio of 0.09.
89bio (NASDAQ:ETNB - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported ($0.49) EPS for the quarter, topping analysts' consensus estimates of ($0.50) by $0.01. During the same quarter in the prior year, the business posted ($0.54) earnings per share.
Insider Activity
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 transaction of $91,207.55. Following the transaction, 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 the SEC website. 2.60% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in ETNB. KLP Kapitalforvaltning AS purchased a new stake in 89bio during the 4th quarter valued at $114,000. Bank of America Corp DE increased its position in 89bio by 10.1% during the fourth quarter. Bank of America Corp DE now owns 358,574 shares of the company's stock valued at $2,804,000 after acquiring an additional 32,867 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in 89bio by 17.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 26,185 shares of the company's stock valued at $205,000 after acquiring an additional 3,820 shares during the period. ProShare Advisors LLC lifted its holdings in 89bio by 32.0% in the fourth quarter. ProShare Advisors LLC now owns 29,149 shares of the company's stock valued at $228,000 after acquiring an additional 7,070 shares during the period. Finally, Rhumbline Advisers boosted its position in 89bio by 3.3% in the fourth quarter. Rhumbline Advisers now owns 129,980 shares of the company's stock worth $1,016,000 after purchasing an additional 4,125 shares during the last quarter.
About 89bio
(
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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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