Candriam S.C.A. cut its stake in 89BIO (NASDAQ:ETNB - Free Report) by 21.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 831,823 shares of the company's stock after selling 223,838 shares during the period. Candriam S.C.A. owned 0.57% of 89BIO worth $6,047,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also modified their holdings of the company. CWM LLC raised its stake in shares of 89BIO by 9,265.1% during the first quarter. CWM LLC now owns 5,900 shares of the company's stock worth $43,000 after buying an additional 5,837 shares during the last quarter. Quarry LP bought a new stake in shares of 89BIO during the fourth quarter worth approximately $55,000. GAMMA Investing LLC raised its stake in shares of 89BIO by 4,898.7% during the first quarter. GAMMA Investing LLC now owns 7,648 shares of the company's stock worth $56,000 after buying an additional 7,495 shares during the last quarter. Sandia Investment Management LP raised its stake in shares of 89BIO by 28.5% during the fourth quarter. Sandia Investment Management LP now owns 11,286 shares of the company's stock worth $88,000 after buying an additional 2,500 shares during the last quarter. Finally, Hsbc Holdings PLC bought a new stake in shares of 89BIO during the fourth quarter worth approximately $87,000.
Analyst Ratings Changes
A number of research firms recently weighed in on ETNB. Cantor Fitzgerald raised shares of 89BIO to a "strong-buy" rating in a research note on Wednesday, April 30th. Weiss Ratings reissued a "sell (d-)" rating on shares of 89BIO in a research note on Thursday, August 14th. Finally, Royal Bank Of Canada dropped their price target on shares of 89BIO from $12.00 to $11.00 and set a "sector perform" rating for the company in a research note on Friday, August 8th. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, 89BIO presently has an average rating of "Buy" and a consensus price target of $26.29.
View Our Latest Analysis on 89BIO
Insider Buying and Selling at 89BIO
In other news, insider Quoc Le-Nguyen sold 10,461 shares of the company's stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $11.02, for a total value of $115,280.22. Following the completion of the transaction, the insider owned 309,364 shares in the company, valued at $3,409,191.28. This represents a 3.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.60% of the stock is owned by company insiders.
89BIO Stock Up 1.0%
Shares of NASDAQ:ETNB opened at $9.19 on Friday. 89BIO has a 52 week low of $4.16 and a 52 week high of $11.84. The company has a debt-to-equity ratio of 0.07, a quick ratio of 15.19 and a current ratio of 15.19. The company has a market capitalization of $1.36 billion, a PE ratio of -2.55 and a beta of 1.28. The company has a 50 day moving average price of $9.82 and a two-hundred day moving average price of $8.95.
89BIO (NASDAQ:ETNB - Get Free Report) last issued its 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 quarter in the previous year, the company earned ($0.48) EPS. Analysts forecast that 89BIO will post -3.19 earnings per share for the current year.
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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