Rafferty Asset Management LLC lowered its position in 89bio, Inc. (NASDAQ:ETNB - Free Report) by 30.3% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 88,745 shares of the company's stock after selling 38,636 shares during the period. Rafferty Asset Management LLC owned 0.08% of 89bio worth $694,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently modified their holdings of ETNB. Avoro Capital Advisors LLC bought a new stake in shares of 89bio in the 4th quarter valued at $32,062,000. Deep Track Capital LP increased its stake in shares of 89bio by 134.2% in the 4th quarter. Deep Track Capital LP now owns 6,478,249 shares of the company's stock valued at $50,660,000 after acquiring an additional 3,711,737 shares in the last quarter. Janus Henderson Group PLC increased its stake in shares of 89bio by 8.9% in the 4th quarter. Janus Henderson Group PLC now owns 16,514,056 shares of the company's stock valued at $129,177,000 after acquiring an additional 1,355,838 shares in the last quarter. Balyasny Asset Management L.P. bought a new stake in shares of 89bio in the 4th quarter valued at $7,972,000. Finally, Vanguard Group Inc. increased its stake in shares of 89bio by 13.7% in the 4th quarter. Vanguard Group Inc. now owns 5,692,331 shares of the company's stock valued at $44,514,000 after acquiring an additional 686,054 shares in the last quarter.
Insider Transactions at 89bio
In other news, insider Quoc Le-Nguyen sold 15,329 shares of the company'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 completion of the sale, the insider now owns 328,323 shares in the company, valued at $1,953,521.85. This represents a 4.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 2.60% of the company's stock.
89bio Stock Performance
Shares of ETNB stock opened at $9.65 on Friday. The firm has a market capitalization of $1.41 billion, a PE ratio of -3.32 and a beta of 1.23. The firm has a fifty day simple moving average of $7.31 and a two-hundred day simple moving average of $8.17. 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 announced its quarterly earnings results on Thursday, May 1st. The company reported ($0.49) EPS for the quarter, beating analysts' consensus estimates of ($0.50) by $0.01. During the same quarter in the prior year, the business posted ($0.54) EPS. Analysts forecast that 89bio, Inc. will post -3.19 EPS for the current fiscal year.
Wall Street Analyst Weigh In
Several analysts have recently weighed in on ETNB shares. UBS Group lifted their price objective on shares of 89bio from $25.00 to $38.00 and gave the company a "buy" rating in a research note on Friday, January 31st. Cantor Fitzgerald upgraded shares of 89bio to a "strong-buy" rating in a research note on Wednesday, April 30th. The Goldman Sachs Group started coverage on shares of 89bio in a research note on Friday, March 14th. They issued a "neutral" rating and a $11.00 price objective for the company. HC Wainwright reiterated a "buy" rating and issued a $21.00 price objective (down previously from $29.00) on shares of 89bio in a research note on Friday, February 28th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of 89bio in a research note on Saturday, May 10th. Two 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 MarketBeat.com, 89bio currently has an average rating of "Buy" and a consensus target price of $26.43.
Read Our Latest Research Report on 89bio
89bio Profile
(
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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