Dimensional Fund Advisors LP purchased a new stake in 89bio, Inc. (NASDAQ:ETNB - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 342,229 shares of the company's stock, valued at approximately $2,676,000. Dimensional Fund Advisors LP owned approximately 0.32% of 89bio at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in 89bio by 13.7% during the fourth quarter. Vanguard Group Inc. now owns 5,692,331 shares of the company's stock worth $44,514,000 after purchasing an additional 686,054 shares in the last quarter. ADAR1 Capital Management LLC boosted its holdings in shares of 89bio by 7,752.7% in the 4th quarter. ADAR1 Capital Management LLC now owns 515,138 shares of the company's stock valued at $4,028,000 after buying an additional 508,578 shares in the last quarter. Alliancebernstein L.P. grew its position in shares of 89bio by 77.5% in the 4th quarter. Alliancebernstein L.P. now owns 1,042,136 shares of the company's stock valued at $8,150,000 after buying an additional 455,074 shares during the last quarter. Barclays PLC raised its stake in 89bio by 198.0% during the 4th quarter. Barclays PLC now owns 639,974 shares of the company's stock worth $5,005,000 after acquiring an additional 425,206 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in 89bio in the fourth quarter valued at $2,951,000.
89bio Stock Performance
89bio stock opened at $8.20 on Thursday. 89bio, Inc. has a fifty-two week low of $4.16 and a fifty-two week high of $11.84. The company has a market capitalization of $1.20 billion, a price-to-earnings ratio of -2.82 and a beta of 1.23. The stock has a fifty day moving average of $7.25 and a two-hundred day moving average of $8.16. 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 announced its earnings results on Thursday, May 1st. The company reported ($0.49) earnings per share for the quarter, beating the consensus estimate of ($0.50) by $0.01. During the same quarter last year, the company posted ($0.54) earnings per share. On average, analysts anticipate that 89bio, Inc. will post -3.19 EPS for the current fiscal year.
Analysts Set New Price Targets
Several equities analysts have issued reports on the company. UBS Group raised their price objective on 89bio from $25.00 to $38.00 and gave the stock a "buy" rating in a report on Friday, January 31st. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of 89bio in a research report on Saturday, May 10th. Wolfe Research started coverage on 89bio in a research note on Tuesday, February 4th. They issued an "outperform" rating for the company. Cantor Fitzgerald upgraded shares of 89bio to a "strong-buy" rating in a research report on Wednesday, April 30th. 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 on the stock. Two analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $27.25.
Check Out Our Latest Stock Analysis on 89bio
Insider Buying and Selling
In other news, insider Quoc Le-Nguyen sold 15,329 shares of 89bio stock in a transaction 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 completion of the sale, the insider now owns 328,323 shares of the company's stock, 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.60% of the stock is owned by company insiders.
89bio Company Profile
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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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