Two Sigma Investments LP trimmed its holdings in shares of 89bio, Inc. (NASDAQ:ETNB - Free Report) by 35.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 237,521 shares of the company's stock after selling 131,167 shares during the quarter. Two Sigma Investments LP owned 0.22% of 89bio worth $1,857,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently bought and sold shares of ETNB. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of 89bio by 2.3% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 51,154 shares of the company's stock valued at $400,000 after purchasing an additional 1,169 shares during the period. Victory Capital Management Inc. grew its holdings in shares of 89bio by 11.5% during the fourth quarter. Victory Capital Management Inc. now owns 13,969 shares of the company's stock worth $109,000 after buying an additional 1,437 shares in the last quarter. Sandia Investment Management LP raised its position in 89bio by 28.5% in the 4th quarter. Sandia Investment Management LP now owns 11,286 shares of the company's stock valued at $88,000 after buying an additional 2,500 shares during the last quarter. New York State Common Retirement Fund raised its position in 89bio by 24.3% in the 4th quarter. New York State Common Retirement Fund now owns 16,367 shares of the company's stock valued at $128,000 after buying an additional 3,200 shares during the last quarter. Finally, Arizona State Retirement System lifted its stake in 89bio by 15.8% in the 4th quarter. Arizona State Retirement System now owns 23,817 shares of the company's stock valued at $186,000 after acquiring an additional 3,252 shares in the last quarter.
Insider Activity at 89bio
In other news, insider Quoc Le-Nguyen sold 15,329 shares of 89bio stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $5.95, for a total transaction of $91,207.55. Following the completion of the transaction, the insider now directly owns 328,323 shares in the company, valued at approximately $1,953,521.85. The trade was a 4.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.80% of the stock is currently owned by company insiders.
Analyst Ratings Changes
Several brokerages have recently weighed in on ETNB. HC Wainwright reaffirmed a "buy" rating and set a $21.00 price target (down from $29.00) on shares of 89bio in a research note on Friday, February 28th. 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 assumed 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. Weiss Ratings restated a "sell (d-)" rating on shares of 89bio in a research note on Saturday, May 24th. Finally, Cantor Fitzgerald upgraded 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 issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $26.43.
Check Out Our Latest Stock Report on 89bio
89bio Stock Up 2.9%
ETNB traded up $0.29 during trading on Friday, reaching $10.25. 1,583,183 shares of the stock were exchanged, compared to its average volume of 1,456,823. 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's 50 day moving average price is $7.65 and its two-hundred day moving average price is $8.22. 89bio, Inc. has a twelve month low of $4.16 and a twelve month high of $11.84. The stock has a market cap of $1.50 billion, a P/E ratio of -3.52 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 prior year, the company posted ($0.54) earnings per share. Equities analysts expect that 89bio, Inc. will post -3.19 EPS for the current year.
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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