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 business's stock in a transaction that occurred on Tuesday, July 15th. The stock was 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 Securities & Exchange Commission, which is available at this link.

89BIO Price Performance

Shares of 89BIO stock traded down $0.38 during trading on Monday, hitting $10.11. 1,212,186 shares of the company's stock traded hands, compared to its average volume of 1,534,030. The company has a debt-to-equity ratio of 0.06, a current ratio of 18.03 and a quick ratio of 18.03. The firm's fifty day moving average price is $9.79 and its 200 day moving average price is $8.65. 89BIO has a twelve month low of $4.16 and a twelve month high of $11.84. The company has a market cap of $1.48 billion, a PE ratio of -2.99 and a beta of 1.28.

89BIO (NASDAQ:ETNB - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported ($0.49) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.50) by $0.01. During the same quarter last year, the business earned ($0.54) EPS. Analysts forecast that 89BIO will post -3.19 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ETNB. Weiss Ratings reissued a "sell (d-)" rating on shares of 89BIO in a research report on Saturday, July 12th. Cantor Fitzgerald raised shares of 89BIO to a "strong-buy" rating in a research report on Wednesday, April 30th. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $26.43.

Institutional Trading of 89BIO

Large investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its stake in shares of 89BIO by 3.9% during the 4th quarter. Bank of New York Mellon Corp now owns 248,156 shares of the company's stock worth $1,941,000 after buying an additional 9,314 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of 89BIO by 12.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 810,826 shares of the company's stock worth $6,341,000 after buying an additional 89,776 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of 89BIO by 11.5% during the 4th 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 during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of 89BIO during the 4th quarter worth about $2,951,000. Finally, PNC Financial Services Group Inc. lifted its stake in shares of 89BIO by 17.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 26,185 shares of the company's stock worth $205,000 after buying an additional 3,820 shares during the last quarter.

89BIO Company Profile

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.