Two Sigma Advisers LP trimmed its position in 89bio, Inc. (NASDAQ:ETNB - Free Report) by 31.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 112,100 shares of the company's stock after selling 51,100 shares during the quarter. Two Sigma Advisers LP owned about 0.11% of 89bio worth $877,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently bought and sold shares of ETNB. Avoro Capital Advisors LLC acquired a new position in 89bio in the 4th quarter valued at about $32,062,000. Deep Track Capital LP boosted its holdings in 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 purchasing an additional 3,711,737 shares during the last quarter. Suvretta Capital Management LLC boosted its holdings in 89bio by 27.7% in the 4th 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 boosted its holdings in 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 purchasing an additional 1,355,838 shares during the last quarter. Finally, Balyasny Asset Management L.P. purchased a new stake in shares of 89bio in the 4th quarter valued at approximately $7,972,000.
89bio Stock Down 1.0%
Shares of NASDAQ:ETNB traded down $0.10 during trading hours on Thursday, reaching $9.96. The stock had a trading volume of 2,027,730 shares, compared to its average volume of 1,454,625. 89bio, Inc. has a 1 year low of $4.16 and a 1 year high of $11.84. The firm's 50 day moving average is $7.52 and its 200-day moving average is $8.19. The company has a debt-to-equity ratio of 0.09, a quick ratio of 11.66 and a current ratio of 11.66. The stock has a market capitalization of $1.45 billion, a price-to-earnings ratio of -3.42 and a beta of 1.30.
89bio (NASDAQ:ETNB - Get Free Report) last announced its quarterly earnings data 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 previous year, the company earned ($0.54) earnings per share. Research analysts predict that 89bio, Inc. will post -3.19 earnings per share for the current fiscal year.
Insider Buying and Selling
In other news, insider Quoc Le-Nguyen sold 15,329 shares of the firm'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 approximately $1,953,521.85. This trade represents a 4.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.80% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
A number of research firms have recently issued reports on ETNB. Weiss Ratings reissued a "sell (d-)" rating on shares of 89bio in a research note on Saturday, May 24th. Citigroup began coverage on shares of 89bio in a research note on Thursday, March 13th. They issued a "buy" rating and a $25.00 price target on the stock. HC Wainwright reissued a "buy" rating and issued a $21.00 price target (down from $29.00) on shares of 89bio in a research note on Friday, February 28th. The Goldman Sachs Group began coverage on shares of 89bio in a research note on Friday, March 14th. They issued a "neutral" rating and a $11.00 price target on the stock. Finally, Cantor Fitzgerald raised shares of 89bio to a "strong-buy" rating in a research note on Wednesday, April 30th. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $26.43.
View Our Latest Analysis on ETNB
89bio Company 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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