89bio, Inc. (NASDAQ:ETNB) Shares Purchased by Integral Health Asset Management LLC

Integral Health Asset Management LLC raised its holdings in 89bio, Inc. (NASDAQ:ETNB - Free Report) by 100.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,000,000 shares of the company's stock after buying an additional 500,000 shares during the period. Integral Health Asset Management LLC owned 0.94% of 89bio worth $7,820,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. increased its stake in shares of 89bio by 77.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 99,467 shares of the company's stock worth $736,000 after purchasing an additional 43,384 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of 89bio during the 4th quarter worth approximately $1,897,000. KLP Kapitalforvaltning AS bought a new position in 89bio in the 4th quarter valued at approximately $114,000. Barclays PLC lifted its stake in 89bio by 228.9% in the 3rd quarter. Barclays PLC now owns 214,768 shares of the company's stock valued at $1,590,000 after purchasing an additional 149,479 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in shares of 89bio by 17.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 26,185 shares of the company's stock worth $205,000 after purchasing an additional 3,820 shares during the last quarter.

Insiders Place Their Bets

In other 89bio news, insider Quoc Le-Nguyen sold 15,329 shares of the business's stock in a transaction dated 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 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.60% of the stock is owned by insiders.

89bio Stock Performance

Shares of NASDAQ ETNB traded up $0.15 during trading on Friday, reaching $7.79. 588,712 shares of the company traded hands, compared to its average volume of 1,372,246. The firm has a 50 day simple moving average of $7.26 and a 200-day simple moving average of $8.16. The company has a quick ratio of 11.66, a current ratio of 11.66 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $1.14 billion, a PE ratio of -2.68 and a beta of 1.23. 89bio, Inc. has a 52-week low of $4.16 and a 52-week high of $11.84.

89bio (NASDAQ:ETNB - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported ($0.49) earnings per share for the quarter, beating the consensus estimate of ($0.50) by $0.01. During the same quarter in the previous year, the company posted ($0.54) EPS. Equities research analysts anticipate that 89bio, Inc. will post -3.19 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on ETNB shares. Wolfe Research began coverage on shares of 89bio in a research note on Tuesday, February 4th. They set an "outperform" rating for the company. UBS Group boosted their price target on shares of 89bio from $25.00 to $38.00 and gave the stock a "buy" rating in a report on Friday, January 31st. Citigroup began coverage on shares of 89bio in a report on Thursday, March 13th. They set a "buy" rating and a $25.00 price target on the stock. HC Wainwright reaffirmed a "buy" rating and issued a $21.00 price objective (down previously from $29.00) on shares of 89bio in a research report on Friday, February 28th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of 89bio in a research report on Saturday, May 10th. Two investment 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 stock. According to MarketBeat.com, 89bio currently has an average rating of "Buy" and an average target price of $26.43.

89bio 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.