Exome Asset Management LLC Has $2.57 Million Stock Holdings in 89BIO $ETNB

Key Points

• Exome Asset Management LLC increased its investment in 89BIO (NASDAQ:ETNB) by 57.1%, owning 353,882 shares valued at approximately $2.57 million, making it the company’s 20th largest holding.
• Notable insider transactions include Quoc Le-Nguyen selling 10,461 shares at an average price of $11.02, reducing their ownership stake by 3.27%.
• 89BIO's stock currently has a market capitalization of $1.27 billion, with analysts predicting an EPS of -3.19 for the current year and a consensus target price of $28.00.

Exome Asset Management LLC increased its stake in 89BIO (NASDAQ:ETNB - Free Report) by 57.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 353,882 shares of the company's stock after purchasing an additional 128,559 shares during the quarter. 89BIO makes up 2.2% of Exome Asset Management LLC's investment portfolio, making the stock its 20th largest holding. Exome Asset Management LLC owned about 0.24% of 89BIO worth $2,573,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. CWM LLC raised its holdings in shares of 89BIO by 9,265.1% during the first quarter. CWM LLC now owns 5,900 shares of the company's stock valued at $43,000 after acquiring an additional 5,837 shares during the period. GAMMA Investing LLC lifted its holdings 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 valued at $56,000 after purchasing an additional 7,495 shares in the last quarter. Hsbc Holdings PLC acquired a new stake in shares of 89BIO in the fourth quarter worth $87,000. Sandia Investment Management LP raised its position in 89BIO by 28.5% during the fourth quarter. Sandia Investment Management LP now owns 11,286 shares of the company's stock valued at $88,000 after buying an additional 2,500 shares during the period. Finally, Ieq Capital LLC purchased a new position in 89BIO during the 1st quarter valued at about $89,000.

Insider Buying and Selling at 89BIO

In related news, insider Quoc Le-Nguyen sold 10,461 shares of the stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $11.02, for a total transaction of $115,280.22. Following the completion of the sale, the insider owned 309,364 shares in the company, valued at $3,409,191.28. This represents a 3.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.60% of the company's stock.

89BIO Stock Performance

Shares of ETNB stock traded down $0.58 during trading on Friday, reaching $8.07. The company had a trading volume of 717,738 shares, compared to its average volume of 1,340,342. The firm's 50 day simple moving average is $9.49 and its two-hundred day simple moving average is $8.73. 89BIO has a one year low of $4.16 and a one year high of $11.84. The company has a debt-to-equity ratio of 0.07, a current ratio of 15.19 and a quick ratio of 15.19. The company has a market capitalization of $1.20 billion, a PE ratio of -2.24 and a beta of 1.27.

89BIO (NASDAQ:ETNB - Get Free Report) last announced 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 quarter in the prior year, the business posted ($0.48) earnings per share. Sell-side analysts forecast that 89BIO will post -3.19 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. HC Wainwright began coverage on shares of 89BIO in a research report on Thursday, September 4th. They issued a "buy" rating and a $32.00 target price for the company. Royal Bank Of Canada lowered their target price on 89BIO from $12.00 to $11.00 and set a "sector perform" rating on the stock in a research note on Friday, August 8th. Bank of America cut their price target on 89BIO from $30.00 to $29.00 and set a "buy" rating for the company in a research note on Monday, August 25th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of 89BIO in a research note on Saturday, August 30th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $28.00.

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.