Insider Selling: 89BIO (NASDAQ:ETNB) Insider Sells 10,461 Shares of Stock

89BIO (NASDAQ:ETNB - Get Free Report) insider Quoc Le-Nguyen sold 10,461 shares of the stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $11.02, for a total value of $115,280.22. Following the sale, the insider directly owned 309,364 shares in the company, valued at $3,409,191.28. This trade represents a 3.27% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

89BIO Trading Up 0.2%

Shares of NASDAQ ETNB traded up $0.02 during trading on Thursday, hitting $10.65. 955,494 shares of the company traded hands, compared to its average volume of 1,528,494. 89BIO has a 1 year low of $4.16 and a 1 year high of $11.84. The company has a quick ratio of 18.03, a current ratio of 18.03 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $1.55 billion, a P/E ratio of -3.15 and a beta of 1.28. The company has a 50-day moving average price of $9.68 and a 200-day moving average price of $8.60.

89BIO (NASDAQ:ETNB - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported ($0.49) EPS for the quarter, topping analysts' consensus estimates of ($0.50) by $0.01. During the same quarter last year, the business posted ($0.54) earnings per share. On average, equities analysts predict that 89BIO will post -3.19 EPS for the current year.

Institutional Investors Weigh In On 89BIO

Institutional investors and hedge funds have recently bought and sold shares of the business. CWM LLC raised its stake in 89BIO by 9,265.1% during the first quarter. CWM LLC now owns 5,900 shares of the company's stock worth $43,000 after acquiring an additional 5,837 shares during the period. Federated Hermes Inc. grew its position in 89BIO by 206.9% in the 4th quarter. Federated Hermes Inc. now owns 6,283 shares of the company's stock worth $49,000 after purchasing an additional 4,236 shares during the last quarter. Quarry LP acquired a new stake in shares of 89BIO in the fourth quarter valued at approximately $55,000. GAMMA Investing LLC increased its stake in shares of 89BIO by 4,898.7% in the first quarter. GAMMA Investing LLC now owns 7,648 shares of the company's stock valued at $56,000 after purchasing an additional 7,495 shares during the period. Finally, Hsbc Holdings PLC acquired a new stake in shares of 89BIO in the fourth quarter valued at approximately $87,000.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on ETNB shares. Cantor Fitzgerald raised 89BIO to a "strong-buy" rating in a report on Wednesday, April 30th. Weiss Ratings reiterated a "sell (d-)" rating on shares of 89BIO in a research report on Saturday, July 12th. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $26.43.

About 89BIO

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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