Bank of America Corp DE raised its holdings in 89bio, Inc. (NASDAQ:ETNB - Free Report) by 10.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 358,574 shares of the company's stock after buying an additional 32,867 shares during the period. Bank of America Corp DE owned about 0.34% of 89bio worth $2,804,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. increased its position in shares of 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. Avoro Capital Advisors LLC acquired a new stake in shares of 89bio during the fourth quarter worth about $32,062,000. Geode Capital Management LLC grew its holdings in shares of 89bio by 6.4% during the fourth quarter. Geode Capital Management LLC now owns 2,207,608 shares of the company's stock worth $17,267,000 after buying an additional 132,638 shares during the last quarter. Candriam S.C.A. grew its holdings in shares of 89bio by 24.5% during the fourth quarter. Candriam S.C.A. now owns 1,055,661 shares of the company's stock worth $8,255,000 after buying an additional 207,582 shares during the last quarter. Finally, Alliancebernstein L.P. grew its holdings in shares of 89bio by 77.5% during the fourth quarter. Alliancebernstein L.P. now owns 1,042,136 shares of the company's stock worth $8,150,000 after buying an additional 455,074 shares during the last quarter.
89bio Price Performance
Shares of NASDAQ:ETNB traded down $0.10 during trading on Thursday, hitting $9.96. 2,027,730 shares of the stock were exchanged, compared to its average volume of 1,454,625. The company has a fifty day moving average price of $7.52 and a two-hundred day moving average price of $8.19. The company has a market cap of $1.45 billion, a PE ratio of -3.42 and a beta of 1.30. The company has a current ratio of 11.66, a quick ratio of 11.66 and a debt-to-equity ratio of 0.09. 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 issued its quarterly earnings data on Thursday, May 1st. The company reported ($0.49) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.50) by $0.01. During the same period last year, the company earned ($0.54) EPS. On average, analysts forecast that 89bio, Inc. will post -3.19 EPS for the current year.
Insider Buying and Selling
In related news, insider Quoc Le-Nguyen sold 15,329 shares of 89bio 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 completion of the transaction, the insider now directly owns 328,323 shares in the company, valued at $1,953,521.85. The trade was a 4.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 2.80% of the company's stock.
Analyst Ratings Changes
A number of equities analysts recently issued reports on ETNB shares. Cantor Fitzgerald raised 89bio to a "strong-buy" rating in a report on Wednesday, April 30th. Citigroup started coverage on 89bio in a report on Thursday, March 13th. They issued a "buy" rating and a $25.00 price objective on the stock. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of 89bio in a report on Saturday, May 24th. The Goldman Sachs Group started coverage on 89bio in a report on Friday, March 14th. They issued a "neutral" rating and a $11.00 price objective on the stock. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $21.00 price objective (down previously from $29.00) on shares of 89bio in a report on Friday, February 28th. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, 89bio has an average rating of "Buy" and an average price target of $26.43.
View Our Latest Stock Report on ETNB
About 89bio
(
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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