89bio, Inc. (NASDAQ:ETNB) Given Average Rating of "Moderate Buy" by Brokerages

89bio, Inc. (NASDAQ:ETNB - Get Free Report) has received a consensus rating of "Moderate Buy" from the six ratings firms that are covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $28.83.

A number of equities analysts have recently commented on the stock. Oppenheimer reiterated a "market perform" rating on shares of 89bio in a report on Tuesday, March 5th. Evercore ISI upped their price target on shares of 89bio from $29.00 to $37.00 and gave the company an "outperform" rating in a research report on Wednesday, March 6th. HC Wainwright reissued a "buy" rating and set a $31.00 price objective on shares of 89bio in a research report on Wednesday, March 27th. Cantor Fitzgerald restated an "overweight" rating and issued a $29.00 target price on shares of 89bio in a report on Monday, March 4th. Finally, Royal Bank of Canada lowered their target price on shares of 89bio from $15.00 to $14.00 and set a "sector perform" rating on the stock in a report on Friday, March 1st.

Insider Buying and Selling

In related news, Director Ra Capital Management, L.P. acquired 1,350,000 shares of the company's stock in a transaction dated Monday, March 4th. The stock was bought at an average cost of $15.35 per share, with a total value of $20,722,500.00. Following the acquisition, the director now owns 12,431,584 shares of the company's stock, valued at approximately $190,824,814.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other 89bio news, Director Ra Capital Management, L.P. bought 1,350,000 shares of the firm's stock in a transaction that occurred on Monday, March 4th. The shares were bought at an average price of $15.35 per share, for a total transaction of $20,722,500.00. Following the transaction, the director now directly owns 12,431,584 shares in the company, valued at $190,824,814.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Rohan Palekar sold 4,477 shares of the business's stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $10.76, for a total transaction of $48,172.52. Following the completion of the transaction, the chief executive officer now owns 486,889 shares in the company, valued at approximately $5,238,925.64. The disclosure for this sale can be found here. 4.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Wetzel Investment Advisors Inc. purchased a new position in shares of 89bio during the fourth quarter valued at approximately $34,000. Acadian Asset Management LLC purchased a new stake in shares of 89bio in the first quarter worth $34,000. Dark Forest Capital Management LP purchased a new stake in shares of 89bio in the first quarter worth $39,000. AJOVista LLC purchased a new stake in shares of 89bio in the fourth quarter worth $42,000. Finally, US Bancorp DE boosted its position in shares of 89bio by 132.5% during the second quarter. US Bancorp DE now owns 2,202 shares of the company's stock worth $42,000 after acquiring an additional 1,255 shares during the last quarter.

89bio Stock Down 7.8 %

Shares of NASDAQ ETNB traded down $0.91 during mid-day trading on Monday, hitting $10.73. The company had a trading volume of 948,482 shares, compared to its average volume of 1,360,177. 89bio has a one year low of $6.57 and a one year high of $22.93. The company has a market capitalization of $1.00 billion, a PE ratio of -5.43 and a beta of 1.04. The firm has a 50-day simple moving average of $10.99 and a two-hundred day simple moving average of $10.63. The company has a current ratio of 20.04, a quick ratio of 20.04 and a debt-to-equity ratio of 0.05.

89bio (NASDAQ:ETNB - Get Free Report) last issued its quarterly earnings data on Thursday, February 29th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.49) by ($0.01). On average, equities analysts expect that 89bio will post -2.2 EPS for the current year.

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.