Two Sigma Investments LP trimmed its holdings in 89bio, Inc. (NASDAQ:ETNB - Free Report) by 35.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 237,521 shares of the company's stock after selling 131,167 shares during the quarter. Two Sigma Investments LP owned about 0.22% of 89bio worth $1,857,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. Federated Hermes Inc. grew its position in 89bio by 206.9% in the fourth quarter. Federated Hermes Inc. now owns 6,283 shares of the company's stock valued at $49,000 after purchasing an additional 4,236 shares in the last quarter. Quarry LP acquired a new position in 89bio in the 4th quarter valued at $55,000. Kingswood Wealth Advisors LLC acquired a new stake in shares of 89bio during the 4th quarter worth $86,000. Hsbc Holdings PLC acquired a new stake in shares of 89bio during the 4th quarter worth $87,000. Finally, Sandia Investment Management LP lifted its position in shares of 89bio by 28.5% during the 4th quarter. Sandia Investment Management LP now owns 11,286 shares of the company's stock worth $88,000 after buying an additional 2,500 shares during the last quarter.
89bio Price Performance
Shares of ETNB stock traded down $0.11 during trading hours on Wednesday, hitting $10.06. The stock had a trading volume of 2,867,211 shares, compared to its average volume of 1,453,111. The stock has a market capitalization of $1.47 billion, a price-to-earnings ratio of -3.46 and a beta of 1.30. 89bio, Inc. 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 0.09, a current ratio of 11.66 and a quick ratio of 11.66. The stock's 50-day moving average price is $7.49 and its two-hundred day moving average price is $8.18.
89bio (NASDAQ:ETNB - Get Free Report) last announced its quarterly earnings results 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 period in the previous year, the business posted ($0.54) earnings per share. Equities analysts forecast that 89bio, Inc. will post -3.19 EPS for the current year.
Insider Activity
In other 89bio 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 sale, the insider now directly owns 328,323 shares of the company's stock, valued at approximately $1,953,521.85. This represents a 4.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 2.80% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities analysts have recently issued reports on ETNB shares. The Goldman Sachs Group began coverage on 89bio in a research report on Friday, March 14th. They set a "neutral" rating and a $11.00 price objective for the company. Wolfe Research started coverage on 89bio in a research note on Tuesday, February 4th. They issued an "outperform" rating on the stock. Citigroup initiated coverage on 89bio in a research report on Thursday, March 13th. They issued a "buy" rating and a $25.00 price target for the company. Cantor Fitzgerald upgraded 89bio to a "strong-buy" rating in a research report on Wednesday, April 30th. Finally, HC Wainwright reiterated 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. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, 89bio has a consensus rating of "Buy" and an average price target of $26.43.
View Our Latest Analysis on ETNB
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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