Harbor Capital Advisors Inc. Acquires 62,874 Shares of 89bio, Inc. (NASDAQ:ETNB)

Harbor Capital Advisors Inc. raised its position in shares of 89bio, Inc. (NASDAQ:ETNB - Free Report) by 25.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. 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 approximately 0.22% of 89bio worth $2,288,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of ETNB. Avoro Capital Advisors LLC bought a new stake in 89bio during the 4th quarter valued at approximately $32,062,000. Deep Track Capital LP lifted its holdings in shares of 89bio by 134.2% during the fourth quarter. Deep Track Capital LP now owns 6,478,249 shares of the company's stock valued at $50,660,000 after purchasing an additional 3,711,737 shares during the last quarter. Suvretta Capital Management LLC lifted its holdings in shares of 89bio by 27.7% during the fourth quarter. Suvretta Capital Management LLC now owns 10,202,696 shares of the company's stock valued at $79,785,000 after purchasing an additional 2,211,052 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in shares of 89bio by 8.9% during the fourth quarter. Janus Henderson Group PLC now owns 16,514,056 shares of the company's stock valued at $129,177,000 after purchasing an additional 1,355,838 shares during the last quarter. Finally, Balyasny Asset Management L.P. purchased a new position in shares of 89bio during the fourth quarter valued at approximately $7,972,000.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ETNB. Citigroup began coverage on shares of 89bio in a report on Thursday, March 13th. They set a "buy" rating and a $25.00 target price for the company. The Goldman Sachs Group initiated coverage on shares of 89bio in a report on Friday, March 14th. They issued a "neutral" rating and a $11.00 price objective for the company. Weiss Ratings restated a "sell (d-)" rating on shares of 89bio in a report on Wednesday. HC Wainwright restated a "buy" rating and issued a $21.00 price objective (down from $29.00) on shares of 89bio in a report on Friday, February 28th. Finally, Cantor Fitzgerald upgraded shares of 89bio to a "strong-buy" rating in a report on Wednesday, April 30th. Two analysts have rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, 89bio has an average rating of "Buy" and a consensus price target of $26.43.

Insider Buying and Selling

In other 89bio news, insider Quoc Le-Nguyen sold 15,329 shares of the business's stock in a transaction on 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 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 Securities & Exchange Commission, which is available through the SEC website. 2.60% of the stock is currently owned by insiders.

89bio Stock Performance

ETNB traded up $0.79 during mid-day trading on Friday, reaching $10.41. 3,933,699 shares of the company traded hands, compared to its average volume of 1,498,142. The stock has a market capitalization of $1.52 billion, a P/E ratio of -3.58 and a beta of 1.30. The company has a quick ratio of 11.66, a current ratio of 11.66 and a debt-to-equity ratio of 0.09. The company's fifty day moving average price is $8.06 and its 200-day moving average price is $8.28. 89bio, Inc. has a 52-week low of $4.16 and a 52-week 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, beating analysts' consensus estimates of ($0.50) by $0.01. During the same quarter in the prior year, the company posted ($0.54) EPS. On average, sell-side analysts expect that 89bio, Inc. will post -3.19 EPS for the current year.

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.