Janus Henderson Group PLC Has $129.18 Million Stock Holdings in 89bio, Inc. (NASDAQ:ETNB)

Janus Henderson Group PLC boosted its stake in shares of 89bio, Inc. (NASDAQ:ETNB - Free Report) by 8.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 16,514,056 shares of the company's stock after acquiring an additional 1,355,838 shares during the quarter. Janus Henderson Group PLC owned approximately 15.56% of 89bio worth $129,177,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of ETNB. Federated Hermes Inc. increased its stake in 89bio by 206.9% during 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 in the last quarter. Quarry LP bought a new stake in shares of 89bio during the fourth quarter worth $55,000. Kingswood Wealth Advisors LLC bought a new stake in shares of 89bio during the fourth quarter worth $86,000. Hsbc Holdings PLC acquired a new stake in shares of 89bio during the fourth quarter worth $87,000. Finally, Tower Research Capital LLC TRC lifted its position in 89bio by 109.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 11,725 shares of the company's stock valued at $92,000 after acquiring an additional 6,132 shares in the last quarter.

Insiders Place Their Bets

In other news, insider Quoc Le-Nguyen sold 15,329 shares of the company's stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $5.95, for a total value of $91,207.55. Following the transaction, the insider now 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. Company insiders own 2.60% of the company's stock.

89bio Stock Performance

NASDAQ ETNB traded up $0.14 on Friday, hitting $7.78. 1,051,760 shares of the stock were exchanged, compared to its average volume of 1,373,829. The company has a market capitalization of $1.14 billion, a PE ratio of -2.67 and a beta of 1.23. 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 business's fifty day moving average is $7.26 and its 200 day moving average is $8.16. 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 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 quarter in the prior year, the firm earned ($0.54) earnings per share. Research analysts anticipate that 89bio, Inc. will post -3.19 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Cantor Fitzgerald raised 89bio to a "strong-buy" rating in a research note on Wednesday, April 30th. The Goldman Sachs Group initiated coverage on 89bio in a research note on Friday, March 14th. They issued a "neutral" rating and a $11.00 target price on the stock. 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. Wolfe Research started coverage on shares of 89bio in a report on Tuesday, February 4th. They issued an "outperform" rating on the stock. Finally, UBS Group increased their target price on shares of 89bio from $25.00 to $38.00 and gave the stock a "buy" rating in a report on Friday, January 31st. Two 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 data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $26.43.

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.