PDT Partners LLC Has $633,000 Position in 89bio, Inc. (NASDAQ:ETNB)

PDT Partners LLC trimmed its position in shares of 89bio, Inc. (NASDAQ:ETNB - Free Report) by 52.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 80,918 shares of the company's stock after selling 88,327 shares during the period. PDT Partners LLC owned approximately 0.08% of 89bio worth $633,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the business. Barclays PLC increased its position in shares of 89bio by 228.9% during the third 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 period. JPMorgan Chase & Co. increased its holdings in 89bio by 77.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 99,467 shares of the company's stock valued at $736,000 after buying an additional 43,384 shares during the period. Harbor Capital Advisors Inc. raised its stake in shares of 89bio by 10.5% in the 4th quarter. Harbor Capital Advisors Inc. now owns 251,898 shares of the company's stock valued at $1,970,000 after buying an additional 23,968 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in shares of 89bio during the 4th quarter worth about $1,897,000. Finally, Hennion & Walsh Asset Management Inc. acquired a new stake in shares of 89bio during the 4th quarter valued at about $739,000.

89bio Trading Down 1.5 %

NASDAQ:ETNB traded down $0.12 during trading hours on Wednesday, hitting $7.63. 345,853 shares of the stock were exchanged, compared to its average volume of 2,269,766. The company's 50 day moving average is $7.33 and its two-hundred day moving average is $8.17. The company has a market capitalization of $1.11 billion, a P/E ratio of -2.62 and a beta of 1.23. 89bio, Inc. has a twelve month low of $4.16 and a twelve month high of $11.84. The company has a quick ratio of 11.66, a current ratio of 11.66 and a debt-to-equity ratio of 0.09.

89bio (NASDAQ:ETNB - Get Free Report) last announced 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 period last year, the business earned ($0.54) earnings per share. On average, sell-side analysts anticipate that 89bio, Inc. will post -3.19 earnings per share for the current fiscal year.

Insider Transactions at 89bio

In other 89bio news, insider Quoc Le-Nguyen sold 15,329 shares of 89bio stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $5.95, for a total transaction of $91,207.55. Following the completion of the sale, the insider now owns 328,323 shares of the company's stock, valued at approximately $1,953,521.85. The trade was a 4.46 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.80% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. The Goldman Sachs Group initiated coverage on shares of 89bio in a research report on Friday, March 14th. They issued a "neutral" rating and a $11.00 price target for the company. Citigroup started coverage on 89bio in a research report on Thursday, March 13th. They set a "buy" rating and a $25.00 target price for the company. HC Wainwright reiterated a "buy" rating and issued a $21.00 price target (down from $29.00) on shares of 89bio in a research report on Friday, February 28th. Weiss Ratings reissued a "sell (d-)" rating on shares of 89bio in a report on Thursday, April 24th. Finally, UBS Group boosted their target price on shares of 89bio from $25.00 to $38.00 and gave the company a "buy" rating in a research note on Friday, January 31st. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $27.25.

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.