Harbor Capital Advisors Inc. Grows Holdings in 89bio, Inc. (NASDAQ:ETNB)

Harbor Capital Advisors Inc. boosted its position in 89bio, Inc. (NASDAQ:ETNB - Free Report) by 25.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 314,772 shares of the company's stock after acquiring an additional 62,874 shares during the quarter. Harbor Capital Advisors Inc. owned 0.22% of 89bio worth $2,288,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Janus Henderson Group PLC raised its holdings in 89bio by 8.9% during the fourth quarter. Janus Henderson Group PLC now owns 16,514,056 shares of the company's stock worth $129,177,000 after purchasing an additional 1,355,838 shares in the last quarter. Suvretta Capital Management LLC raised its holdings in 89bio by 27.7% during the fourth quarter. Suvretta Capital Management LLC now owns 10,202,696 shares of the company's stock worth $79,785,000 after purchasing an additional 2,211,052 shares in the last quarter. RTW Investments LP raised its holdings in 89bio by 1.3% during the fourth quarter. RTW Investments LP now owns 7,478,061 shares of the company's stock worth $58,478,000 after purchasing an additional 99,513 shares in the last quarter. Deep Track Capital LP raised its holdings in 89bio by 134.2% during the fourth quarter. Deep Track Capital LP now owns 6,478,249 shares of the company's stock worth $50,660,000 after purchasing an additional 3,711,737 shares in the last quarter. Finally, 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.

Insider Buying and Selling

In related news, insider Quoc Le-Nguyen sold 15,329 shares of the business's stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $5.95, for a total value of $91,207.55. Following the sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.60% of the company's stock.

89bio Price Performance

Shares of NASDAQ ETNB traded up $0.79 during trading on Friday, hitting $10.41. 3,933,699 shares of the company were exchanged, compared to its average volume of 1,499,119. The company has a market cap of $1.52 billion, a price-to-earnings ratio of -3.58 and a beta of 1.30. 89bio, Inc. has a 1 year low of $4.16 and a 1 year high of $11.84. The firm's fifty day moving average price is $8.06 and its 200 day moving average price is $8.27. The company has a debt-to-equity ratio of 0.09, a current ratio of 11.66 and a quick ratio of 11.66.

89bio (NASDAQ:ETNB - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported ($0.49) EPS for the quarter, topping the consensus estimate of ($0.50) by $0.01. During the same quarter in the previous year, the business earned ($0.54) EPS. On average, sell-side analysts expect that 89bio, Inc. will post -3.19 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ETNB. Cantor Fitzgerald raised shares of 89bio to a "strong-buy" rating in a report on Wednesday, April 30th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of 89bio in a report on Wednesday. The Goldman Sachs Group started coverage on shares of 89bio in a report on Friday, March 14th. They issued a "neutral" rating and a $11.00 target price on the stock. HC Wainwright reissued a "buy" rating and issued a $21.00 price objective (down from $29.00) on shares of 89bio in a research note on Friday, February 28th. Finally, Citigroup started coverage on shares of 89bio in a research note on Thursday, March 13th. They issued a "buy" rating and a $25.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $26.43.

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.