89BIO $ETNB Shares Acquired by Voya Investment Management LLC

Voya Investment Management LLC increased its position in shares of 89BIO (NASDAQ:ETNB - Free Report) by 417.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 132,791 shares of the company's stock after purchasing an additional 107,151 shares during the period. Voya Investment Management LLC owned 0.09% of 89BIO worth $965,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. CWM LLC increased its holdings in shares of 89BIO by 9,265.1% in the first quarter. CWM LLC now owns 5,900 shares of the company's stock valued at $43,000 after buying an additional 5,837 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of 89BIO by 4,898.7% in the first quarter. GAMMA Investing LLC now owns 7,648 shares of the company's stock worth $56,000 after acquiring an additional 7,495 shares during the last quarter. Ieq Capital LLC acquired a new position in shares of 89BIO in the first quarter worth $89,000. Allianz Asset Management GmbH acquired a new position in shares of 89BIO in the first quarter worth $93,000. Finally, E Fund Management Co. Ltd. acquired a new position in 89BIO during the first quarter worth $93,000.

Wall Street Analysts Forecast Growth

Several research firms have commented on ETNB. Weiss Ratings reissued a "sell (d-)" rating on shares of 89BIO in a research report on Saturday, September 13th. Raymond James Financial cut shares of 89BIO from a "strong-buy" rating to a "market perform" rating in a research note on Friday, September 19th. Wolfe Research cut shares of 89BIO from an "outperform" rating to a "peer perform" rating in a research note on Friday, September 19th. Royal Bank Of Canada dropped their price objective on shares of 89BIO from $12.00 to $11.00 and set a "sector perform" rating for the company in a report on Friday, August 8th. Finally, Bank of America lowered their price target on shares of 89BIO from $30.00 to $29.00 and set a "buy" rating for the company in a report on Monday, August 25th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $25.81.

89BIO Price Performance

Shares of NASDAQ ETNB opened at $14.70 on Thursday. The company has a fifty day moving average price of $9.76 and a 200 day moving average price of $8.93. The company has a current ratio of 15.19, a quick ratio of 15.19 and a debt-to-equity ratio of 0.07. 89BIO has a 1-year low of $4.16 and a 1-year high of $15.06. The firm has a market cap of $2.18 billion, a PE ratio of -4.07 and a beta of 1.27.

89BIO (NASDAQ:ETNB - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported ($0.71) EPS for the quarter, missing the consensus estimate of ($0.49) by ($0.22). During the same period in the previous year, the company earned ($0.48) EPS. Research analysts predict that 89BIO will post -3.19 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other 89BIO news, insider Quoc Le-Nguyen sold 10,461 shares of the stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $11.02, for a total value of $115,280.22. Following the transaction, the insider directly owned 309,364 shares of the company's stock, valued at $3,409,191.28. This represents a 3.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.60% of the stock is currently owned by corporate insiders.

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.

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